Cyberattacks can result in significant financial penalties and reputational risk. A surprising 43% of hacking specifically target businesses and individual accounting professionals.
Are you vulnerable to hacking?
In fact, 64% of accounting companies have already experienced web-based attacks; 62% have experienced phishing and social engineering attacks. Even with the total cost for cybercrime committed globally, calculated to be over $1 trillion dollars in 2018, the detection rate for data breaches has been very low. In fact, the average time to detection is 191 days.
According to 56% of IT decision makers, targeted phishing attacks are their top security threat, even as 92% of malware is delivered by email. What you can do about cybersecurity and data protection: Prepare, detect, notify, report and recover. New laws require you to report any data breach to government authority in most countries.
Recent hacking quotes that you need to hear;
“IR-2018-68, March 22, 2018
WASHINGTON — The IRS, state tax agencies and the tax industry warned tax professionals to be alert to taxpayer data theft in the final weeks of the tax filing season. The Security Summit partners urged tax professionals to enhance their data safeguards immediately.
In recent days, the “New Client” scam has re-emerged, signaling ongoing attempts by cybercriminals to target tax professionals with spear phishing schemes.”
“‘The question isn’t whether you will be hacked, but when’
11.13.2018 | MATHIEU DE LAJARTRE Chartered Professional Accountants Canada”
“More than 1 in 5 Canadian businesses hit by cyberattacks
12.12.2018 | BRYAN BORZYKOWSKI Chartered Professional Accountants Canada
“Statistics Canada study shows more than 20 per cent of organizations in 2017 suffered data breaches. And if you think it’s solely an IT issue, think again.”
KEY TIPS INCLUDE:
- create ongoing cyber awareness education and training for employees
- leverage various tools to detect potential security incidents
- conduct periodic tests on your organization’s security program
- have a backup plan to restore lost or ransomed data
Cyberthreats and data breaches can cause significant monetary and reputational damage. The organizations that are prepared will stand to reap most of the benefits, including greater competitiveness and increased awareness. Cybersecurity and data protection are important not only to large corporations but also to small and medium enterprises. Get protected, have a plan and know what you can do to prevent and recover.
