29 percent of small to medium-sized businesses (SMBs) spend less than $1,000 for their IT security each year. This comes as a worrying statistic considering the rampant cybersecurity threats that all businesses face these days.
Falling victim to a cyberattack can have serious consequences especially for SMBs. Security breach costs are rising. The recent IBM study showed that the cost of data breaches has risen by 12 percent over the past 5 years.
See: Why So Many Businesses Can Never Recover After Cyber Attacks
A breach to an organization with less than 500 employees results in an average of $2.5 million in losses. Such costs can easily drive an SMB towards bankruptcy.
Fortunately, solutions providers are now leveraging cloud computing and software-as-a-service (SaaS) deployment models to make their tools available and more accessible to SMBs. File-based attack protection solution odix, for instance, was recently awarded a 2 million euro grant by the European Commission (EC) to allow SMBs to better access its malware disarm technology.
See: What If Your VPN Keeps Logs and Why You Should Care
“Cybersecurity threats have come a long way from the viruses of decades ago. What’s alarming is that hackers now have a multitude of tools, methods, and technologies to help them carry ..
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