Lax IT security exposes small businesses
20 November 2013, 20:14
Nairobi - Small businesses overlook their information
technology security and the in the process expose their customers and put the
future of their businesses at risk.
This is according to the Verizon’s 2013 Data Breach
Investigations Report, which cited consultancy firms, independent legal firms,
financial advisers and dentist offices as the most vulnerable.
“Of the 621 data breaches analyzed, companies with fewer
employees accounted for 193 of the breaches, which represents over 30 per
cent,” revealed the report that incorporates data from worldwide forensic
Verizon sampled companies with 20 or less employees.
The latest report follows another survey by
PricewaterhouseCoopers which indicated a 76 percent increase in the number of
breaches on small and medium size firms.
It was reported that 15 per cent of the businesses
attacked last year confirmed that the attack was because of unauthorized access
to business data with another 9 percent citing theft of intellectual property.
Cyber criminals have been targeting mostly financial services and healthcare
Customers in those services trust the service providers
with very sensitive information such as medical records, payment and bank
details, which can have devastating effects on both the business and the client
if accessed by unauthorized persons.
“Cyber crime has become the second most frequent type of
economic crime being experienced by financial service companies after asset
misappropriation,” read an extract from the Pricewaterhouse Cooper’s report.
– CAJ News