In light of the growing number of high-profile cyber attacks hitting tech and financial institutions across the country, the U.S. House Small Business Subcommittee on Health and Technology held a hearing on the topic of “Protecting Small Businesses Against Emerging and Complex Cyber-Attacks.”
A recent study cited by the subcommittee chairman Rep. Chris Collins, (R-NY), found that though more than three-quarters of small businesses believe their companies are safe from hackers, 20 percent of all cyber attacks hit small businesses with 250 or fewer employees. And while major corporations like Facebook and many big banks seem to easily bounce back from their reported tech infiltrations, according to the same study, nearly 60 percent of small businesses will shutter within half a year after being victimized by cyber crime
Dan Shapero, a CompTIA member and the founder of IT company ClikCloud, was one of the professionals testifying at the hearing. Shapero said that the average cost of a data breach is $6.75 million total and $214 per compromised customer record, which could potentially send a small business into bankruptcy.
Most Small Businesses Don##Q##t Recover from Cyber Crime | DFI News.