What’s Scary Expensive? A Cyberattack

Costs nearly double to $7 billion since COVID-19.

Is it a coincidence that National Cybersecurity Awareness Month and Halloween are both in October? They can both be frightening – unless you have the right safety measures in place.

According to data from the Federal Bureau of Investigation, the total cost of cybercrime from 2019 to 2021, skyrocketed from $3.5 billion to $6.9 billion, essentially doubling since COVID-19. That figure includes international businesses.

That figure, however staggering, makes sense, experts say, because most businesses shifted to hybrid or remote to survive the pandemic. However, with smaller companies less likely to invest heavily in cybersecurity, they are most vulnerable to hackers.

In a 2021 Forbes interview, Fred Voccola, CEO of Kaseya, an IT software management company, warned, “Comprehensive and frequent cybersecurity training can no longer be considered a ‘nice-to-have’ for businesses—it’s now absolutely crucial for organizations that are facing an ever-evolving array of cybersecurity threats in the current work-from-home environment. In addition to training employees to spot phishing emails, organizations really need to invest in a robust, integrated suite of cybersecurity solutions that prevent, detect, and mitigate ransomware and other cybersecurity threats.”

These increased threats and the need to push businesses to digital transformation lead one organization to develop the SOHO (Small Office/Home Office) Protection Package. Created by a renowned cybersecurity risk management advisor and CPA.CITP, to provide small accounting firms enterprise level cyber protection and peace of mind at an affordable price, the SOHO Protection Package enables small accounting firms to stop worrying about the cybersecurity risks they face and feel confident that they have minimized the risk of disruption.

“Most firms know they need cybersecurity protection, but they struggle to know what’s right for them,” said Alisa Nishimoto, PMP, director of accounting firm services for the Center for Accounting Transformation. “That is why the Center is driven to empower small and mid-sized accounting firms with enterprise level cyber protection. Every firm, regardless of size, deserves the peace of mind that their data is protected. That starts with having the right information security policy, technology, and strategy for IRS compliance in place.”

To help accountants understand cybersecurity threats, the Center is offering a complimentary no risk advisor consultation, as well as access to a free webinar recording, “Understanding Your Cybersecurity Tech Options: How Non-Techies Can Mitigate Their Malware Risks.” The program will help:

• Identify cybersecurity risk areas and associated business impacts.
• Classify controls as below basic, basic, better, or best in mitigating cybersecurity risks.
• Determine residual cybersecurity risks.
• Address why privacy and cybersecurity matters.
• Identify what solution best meets your specific needs and budget.

“The right cyber protection isn’t just one thing,” Nishimoto said. “It’s finding the best set of options for each company’s needs that is the perfect mix of technology, policy, and strategy.”

Visit https://link.improvetheworld.net/soho-cybersecurity to learn more about the SOHO Protection Package and get connected with an advisor today.

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