When it comes to cyberthreats, it’s not a matter of “if” but “when.” Warner Norcross + Judd LLP partner Nate Steed told MiBiz that small to medium-sized businesses may think they’re unlikely to be a target of cybercrime, but they aren’t immune from cyberthreats – and they need to be prepared.
“Data security is not usually a technology problem, it’s a people problem,” Steed told MiBiz. “You can spend as much money as you want on all of the bells and whistles to protect yourself, but all it takes is one person to click on a link that they shouldn’t and it undoes all of that time and money and effort that you put into securing your own environment.”
The article put the cost of cybercrime at more than $181.6 million in 2021. MiBiz noted phishing attacks cost an average of $4.91 million per incident – although that went down dramatically for companies that were prepared.
“Train and prepare. Nobody is immune. Everybody is a target, and you’ll be in a much better position if you’ve already planned for it, even a little bit,” Steed told MiBiz. “Investing is a preventative measure now that will save you money in the future.”
Read the entire article here.
Nate Steed counsels a variety of organizations in technology, data privacy and information security law, as well as related contracts. He advises on the acquisition, use and audit of software and hardware and the internet of things, regularly guiding clients through data breaches and ransomware attacks – helping to prepare for and prevent breaches but also to craft and implement a comprehensive data security incident response should a breach occur. He is a frequent speaker on compliance with state and federal privacy and information security laws. Learn more about his practice here.
About Warner
By providing discerning and proactive legal advice, Warner Norcross + Judd LLP builds a better partnership with our clients. One of Michigan’s largest law firms, we’re focused on providing the best legal solutions and exceptional client service to organizations throughout the world. Connect with us on wnj.com, LinkedIn, Twitter or Facebook.
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