When Target publicly confirmed that the credit and debit accounts of 40 million customers had been compromised in December, many consumers received a rude awakening to the real danger of entrusting businesses with so much data.
If the recently exposed Heartbleed OpenSSL vulnerability didn't make the state of data security even more horrific, odds are you don't fully understand it.
For businesses and organizations, especially those of the small-to-medium variety, the need for security vigilance and data protection is as vital as it's ever been. It's estimated that cybercriminals steal $1 billion every year from small and medium-sized businesses in the U.S. and Europe.
For smaller businesses, data breaches don't only mean a potential lawsuit -- they could mean bankruptcy. In fact, 72% of businesses that suffer major data loss shut down within 24 months. Not all of this data loss occurs through malicious breaches like hacking, of course. Some is just simple negligence -- not backing up data (which 60% of small and medium businesses admit to being guilty of) and installing applications with vulnerabilities.
Money is likely the biggest factor in a lack of data security. In a 2013 survey by the National Small Business Association, 44% of small business owners cited the cost of upgrading technology as one of their biggest challenges.
The folks at Imprima have compiled this infographic, complete with facts about data loss and data breaches in the small business community.
