A Business Will Fail in 2015 Due to a Cyber Attack

A Business Will Fail in 2015 Due to a Cyber AttackCyber attacks, already responsible for millions of dollars in damages and reputational harm, are the new normal. Not preparing for a cyber attack or security breach is now the equivalent of negligence.

A cyber security expert at AEGIS London is predicting a company will going out of business in 2015 due to the financial consequences of being ill-prepared for a cyber attack:

“These attacks are now increasingly destructive as we have seen with the recent attack on Sony Entertainment and statistics from the Organisation of American States (OAS).

“This trend is going to continue, with affected businesses squeezed between a shrinking top-line due to reputational harm and rising costs to get back on their feet.”

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What Do These Security Breaches Have In Common?

Some of the more well-known security breaches we’ve heard about in the past several years have one thing in common:

  • Russian hackers infiltrating an unclassified White House computer system
  • Ransomware infection at the Tewksbury Police Department
  • 2012 breach of the South Carolina Department of Revenue
  • 2013 Espionage efforts of China’s People’s Liberation Army Unit 61398
  • 2014 Sony Entertainment breach

If you remember the report of the infamous Sony breach early this year, that may give it away: all of these security breaches occurred due to an employee clicking a link in a phishing email.

Phishing was used in 95% of state-affiliated espionage incidents, according to a 2013 Data Breach Investigations Report conducted by Verizon.

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How well is your organization prepared for a cyber attack?

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