In the Los Angeles Times this week, reporters E. Scott Reckard and Tiffany Hsu wrote that “for every high-profile case, there are dozens of threats to confidential data held by everyday enterprises: wine shops, dentist offices, colleges, gay and lesbian community centers, makers of dog tags, defense electronics, sports gear.” Many small entities “know little or nothing about cybersecurity,” they wrote, citing the National Small Business Association. “The trade group reported that 44% of respondents to a survey last year had been victims of at least one cyberattack, with an average $8,699.48 cost for each breach,” Reckard and Hsu wrote.
“This is really just the beginning,” Brian Thornton of ProWriters Insurance told HB. “The fact that there were 380 breaches reported to the California Attorney General since January 2012 where more than 500 Californians were affected means to me that there are a lot more that have gone unnoticed or undetected.”
“Many small businesses think that because they outsource credit card processing to a third party that they are safe or removed from any liability,” Thornton said. “It will take time to continue to educate small business owners on the exposure, but the momentum is going in the right direction.”
Thornton will be one of the panelists who will speak about cyber risks facing small entities during the Oct. 8-9, 2014, NetDiligence Cyber Risk & Privacy Liability Forum in Santa Monica. Click the banner below for details.