(Video) – The Cost of being compromised by cybercrime

The Cost of being compromised by cybercrime

Hello. My name is Roger.

Today, I’d like to talk to you about the cost of cybercrime to a small or medium business enterprise and a not-for-profit organization. The cost of cybercrime is not only something that we see in the loss of money, but there are also other things that can come into the cost of if you get hacked and get compromised.

And yes, money is a very main—a very important component of that, because money is what makes literally the world go around. But there are other things in the digital world that we really need to look at. One of them is loss of reputation.

Not very many people are going to do business with someone who they know has been compromised, and know that their information is no longer safe when it’s stored by your organization. And then there’s also intellectual property or trade secrets, how you do business, what you do business, what you build for your business.

All of those components really do make up how—your reputation. On top of that, we have cleanup costs. The cleanup costs for a cyber-attack can be very costly. Because they are very costly, one of the things you do not want to have happen to you is have a cyber con perpetrated against you. So there you have it.

The cost of cybercrime to a small or medium enterprise is loss of money, loss of reputation, loss of IP and the overall cleanup costs of getting it right afterwards. Thank you very much.

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Roger Smith is the CEO of R & I ICT Consulting Services, Amazon #1 selling author on Cybercrime, author of the Digital Security Toolbox and author of the SME Digital Security Framework.   Rapid Restart Appliance Creator.   He is a Speaker, Author, Teacher and Educator on cybercrime and how to protect yourself from the digital world. 

Roger Smith, is an educator. Teaching students at ADFA (UNSW) and showing them how vulnerable they are to cybercrime.

He is also CEO at R & I ICT Consulting Services Pty Ltd, an Amazon #1 author on Cybercrime and founder of the SME Security Framework. He is a Consultant who specialises in inexpensive and highly effective security strategies for small and medium businesses and not for profit organisations.

He has developed and authored the SME Security Framework and the Security Policy Training Course which are considered to be the definitive guides to helping SME's protect their organisation using the principles of Technology, Management, Adaptability and Compliance.