“Cyber Tax” Warning as Two-Fifths of SMBs Raise Prices After Breach
Overview
A recent study by the Identity Theft Resource Center (ITRC) indicates that a staggering 81% of small businesses in the U.S. experienced a data or security breach in the past year. As a result, many of these businesses are feeling the financial strain and are responding by increasing their prices. Specifically, two-fifths of small and medium-sized businesses (SMBs) have raised their prices to offset the costs associated with these breaches. This trend not only impacts the businesses themselves but also affects consumers, who may face higher prices for goods and services. The findings emphasize the ongoing vulnerability of small businesses to cyber threats and the wider economic implications of such breaches.
Key Takeaways
- Affected Systems: Small businesses in the U.S.
- Action Required: Businesses should enhance their cybersecurity measures, conduct regular security audits, and consider investing in employee training to prevent future breaches.
- Timeline: Newly disclosed
Original Article Summary
New ITRC research finds 81% of US small businesses suffered a data or security breach in the past year
Impact
Small businesses in the U.S.
Exploitation Status
The exploitation status is currently unknown. Monitor vendor advisories and security bulletins for updates.
Timeline
Newly disclosed
Remediation
Businesses should enhance their cybersecurity measures, conduct regular security audits, and consider investing in employee training to prevent future breaches.
Additional Information
This threat intelligence is aggregated from trusted cybersecurity sources. For the most up-to-date information, technical details, and official vendor guidance, please refer to the original article linked below.
Related Topics: This incident relates to Vulnerability, Data Breach.