SMALL BUSINESS ACTUAL COST OF DATA BREACH

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Financial Cost – on average, it costs a small business between $36,0000 and $50,000 in the event of a data breach. From PCI examination to liability costs and POS upgrades. The many costs of a data breach add up.

Notification Cost – if your business falls victim to a data breach, it is your moral and sometimes legal (depending on the state in which your business operates) obligation to notify your customers of the breach.

Reputation Cost – data breach lessens your credibility and trust with your customers. This can have a long-term affect on your business.

Time Cost – as a small business owner, your focus is on the daily operations of your business. In the event of a data breach, your focus will be shifted entirely to clearing up the issue.

The cost of a data breach is more than financial and can often have a lasting negative impact on your business.

The quickest and easiest way to protect your business is to prevent fraud from happening. At National Transaction, we give importance to your security. For your electronic payments needs give us a call at 888-996-2273.

 

 

June 28th, 2016 by