More than half (53%) of all C-suite executives say data breaches in their organizations are due to accidental loss by an external party or human error, according to "Shred-it's Ninth Annual Data Protection Report." In addition, 96% of Americans hold negligent employees as least partly to blame for data breaches at major US companies, the report found.
These types of mistakes have been costly, anywhere from thousands to millions of dollars, and the price tags keep growing. For example, the city of Riviera Beach, Fla., recently paid $600,000 to hackers to decrypt their files after one of its employee accidentally clicked on a phishing link that delivered ransomware to its computer systems. And Moody's recently estimated that the Equifax data breach — caused by the — will cost it about $400 million in cybersecurity expenses and capital investments this year and next.
As threats continue to evolve, and cybercriminals become more sophisticated and targeted in their attacks, organizations that lack a mature security awareness and training program place themselves at serious risk. That security awareness managers need rethink the ways (emphasis on the plural) they inform and educate employees about potential cyberattacks is nearly an understatement.
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