No company is safe from a data leak, a phenomenon that costs Canadian companies an average of $6 million annually, according to an IBM report. We also learn that Canada is the third most affected area by data leaks after the Middle East and the United States.
For example, the Desjardins data leak affected approximately 6 million people and cost $108 million. The choices companies make in securing access to their information are crucial to data security.
Definition
Data leakage occurs when an individual gains unauthorized access to sensitive or confidential data. This information is then, in most cases, sold online on the Dark Web for profit.
Data theft can be spontaneous, involuntary or provoked. They affect all spheres of human activities, economic, social and professional. They can even have an impact on people’s intimacy.
Impact Of The Pandemic
Cybercriminals have targeted the most cyber-vulnerable people during the pandemic – telecommuters and people in the healthcare industry.
“Nearly two-thirds of companies worldwide, and 63% in Canada, have seen an increase in targeted cyberattacks since moving to telecommuting. More than half (51%) of information security executives in Canada said human error is the biggest vulnerability, as most cyberattacks involve interpersonal interactions.”
Also, according to the IBM report, telecommuting increased the cost of a data breach in the U.S. by an average of $137,000 during the pandemic. Cybercriminals are taking advantage of every vulnerability to attack.
Avoiding Leaks
It is important to understand the impact of certain behaviors that can put your data at risk, such as the use of unauthorized devices or software, weak passwords and phishing email attempts. These are the most common issues we see at the heart of data leaks within organizations.
Data leaks can no longer be taken lightly. They are very costly and the financial, reputational, technological and human risks are numerous. Some companies may never recover from a data leak.
In Short
The most important thing is to raise awareness of your employees through training and to give you the technological tools to minimize the risks related to cybersecurity.
At MS Solutions, we offer cybersecurity training for your employees to be proactive and develop the skills of your team to identify and manage cyber threats.
Our secure outsourcing offering is also a tool to consider for peace of mind, maximizing your productivity and minimizing your risks.
Feel free to contact us for more information on our secure outsourcing offering at 1-888-877-3365 or through an online form here.
