What are the costs and benefits of developing cybersecurity programs in business?

Cyber security programs in business are crucial to create a safer way to operate your business, especially if your business begins to grow and expand. Data breaches are popular among big companies that hold valuable data such personal information of customers. In a recent incident, the company Roku was hacked, and they breached about 576,000 accounts from their database. Another example is in March American Express had a data breach where names, account numbers, card details were potentially leaked, and this was caused by a third-party merchant with American Express. The average business loss to data breaches can cost up to 9 million dollars on average. Businesses should do their best to prevent this type of loss because it is less expensive to create a cyber security program than it is to lose millions of dollars because they were caught off guard with extra security measures. When a business takes a loss like this, it stays with them. Meaning, the business loses its integrity, their company name. This will cause distrust in the community and will cause customers to not trust the company and take their business elsewhere. So not only can you lose money with hackers, but you also take a loss with the customer base you built up that is making your business run so efficiently. There many different factors to protection as well. You have to make sure you covering all sides of the wall. The security measures shouldn’t being only to train your employees and put in a firewall. There needs to be layers of security to prevent hackers from having a chance to penetrate your wall. Firewalls, backups, cyber security experts, updates, security software, network security, and more. Cyber security programs are crucial to keep the business up and running and as safely as possible to protect the integrity and customers involved with your business.