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According to IBM’s 2019 “Cost of a Data Breach” report, companies lose approximately $150 per record lost in a data breach – a figure that’s up from $141 in 2017. It’s getting more and more expensive each year to recover from the aftermath of an attack. To make matters worse, Coveware found that the average ransomware attack, in particular, results in approximately 10 days of downtime. That’s even MORE money spent recovering from a data breach. For most accounting firms, this type of impact isn’t sustainable, especially during tax season. So what can accounting firms do to stay safe?
This is critical for all businesses, but accounting firms are particularly at risk due to the massive amount of sensitive data they store. You’re not only storing your own information, but you’re also storing information belonging to your clients – and possibly their customers, vendors, and employees. That’s a lot of sensitive data that can be quite lucrative for cybercriminals looking to sell information on the dark web or demand a ransom fee in exchange for access during the busy tax season.
Here’s the thing… Cybercriminals KNOW how busy the tax season can be, and because of this, they know most accounting firms need access to their sensitive information to stay productive and keep their paying clients satisfied. It’s the perfect time to commit an attack, such as:
Unfortunately, no single security measure or solution will protect your accounting firm against a myriad of threats out there. If you want to stay safe now and going into the busy tax season, a robust cybersecurity strategy is necessary. Here’s a few tips to help you get started:
The Tips Listed Above Are a Great Place to Start, But a Robust Cybersecurity Strategy Should Be Left to the Professionals. Contact Tier One Technology Partners – Your Baltimore IT Company. Call (443) 252-3947 Now.
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