It seems like every day there is another news story about a cyber-attack. The story is almost always the same – a company is forced to inform the public, provide an apology and promise that they have enhanced their cyber-defenses to prevent a future breach from happing. We then go on with our day and see the same thing tomorrow.
We are at a point where the sheer number of known cybersecurity breaches is absolutely astonishing. Keep in mind that we are only hearing about cybersecurity breaches that have been publicly reported. According to the ISACA “State of Cybersecurity 2020” report 62% of cybercrime is underreported! We are becoming numb from learning of just a portion of this crime wave.
Today, the cybercriminal is well funded, has the best technology and live and breathe how to rob you. You on the other hand, are not living and breathing cybersecurity. Dealers focus on selling and servicing cars and trucks – as they should. But you need to realize that you are in an escalating battle that many dealers aren’t fully acknowledging. And, until you acknowledge the threat at hand, you won’t seek a way to continue focusing on your core business while also finding a way to effectively defend against the cybercriminal.
The purpose of this blog post is to try draw attention to cybersecurity fatigue and the danger that it is causing. If you resign to the idea that cybercrime is just the way it is and hopefully the cybercriminal will just pass you by – then you are doing exactly what the cybercriminal wants. You are letting your guard down and you will be hacked.
The cybercriminal is making lots of money and they are rarely caught. It is a great business for someone without morals. They are not giving up or slowing down. In fact, they are ramping up and they are shifting their focus to small businesses (those with less than 1000 employees). It is reported in the 4iQ Identity Breach Report that there has been a 424% increase in small business breaches. Add to this that a BullGuard survey of small businesses found that 60% choose to “keep their heads in the sand about attack and breach risks.” This may be because of cybersecurity fatigue.
Our advice is do not give in to the cybercriminal. A successful breach is very, very expensive. It is estimated that the total cost of a breach for an organization with less than 500 employees is $2.64 million. Not only is a breach costly, but it also punches your reputation in the gut. 84% of consumers claim that they will not buy another car from a dealer whose data has been compromised by cybercrime. Don’t let this happen to you.
Focus on selling and servicing cars and trucks and augment your existing IT with a team of cybersecurity professionals who can monitor your dealership 24/7/365 and quickly detect and then neutralize a cybersecurity threat to your dealership. This is how to fight cybercrime.