Business Security Information

Businesses just like yours spend time, money and energy every day trying to protect their assets from a variety of security issues.  How do you know if you are expending that time, money and energy covering the right security issues?

This month I came across a survey of security directors from a variety of companies that covered the major security issues they face and the cost of security incidents when they did occur.  I will highlight some of that information in this article so you can see the type and cost of a variety of security issues.  You can use this information to evaluate if you are addressing the right security issues in your own business.  Here is the list of security issues based on the highest annual dollar losses to the lowest dollar losses:

• Business Interruption and Disaster Recovery – 32% of those surveyed reported experiencing this issue in the past year with an average loss of $100,000.
• Data Breaches – 32% of those surveyed stated they had experienced one with an average annual loss of $50,000.
• External Theft and Vandalism – 65% of those surveyed stated they had problems with this security issue with an average annual loss of $20,000.
• Fraud or White Collar Crime – 37% of the surveyed respondents stated they had experienced this security issue with an average annual loss of $11,000.
• Theft of Laptops – 58% reported experiencing this security issue with annual losses of $10,000.
• Employee Theft – 68% of security directors had experienced employee theft with an annual loss of $10,000.

This survey primarily covered security directors who are responsible for physical security and fraud.   This is probably why data for computer security-related issues are lacking in these findings.  This is probably also why the percentage of data breaches is lower than I have seen in other information sources.

Limitations of the Survey

With experience in several areas of security, I know that when you discuss security issues with someone who is responsible for and experienced in only one area of security, you will always get more information related to their area of responsibility.  This is what I feel has occurred in this survey.  Those responsible for this survey are very experienced and thorough, but again it surveys mostly those security directors with physical security responsibilities.  If you gather similar information from those responsible for computer security, the information would cover more computer security issues with only some physical security.  Be aware of this survey’s limitations but also realize that this information is still useful in deciding where to direct your security efforts.

While disaster planning and recovery issues should be high on a business’ list, it is usually one of the last security issues address by most businesses.  Most businesses also address external threats (criminals) without addressing employee threats.  Review the  survey information and use it as one source of information when planning what security issues you are and should be addressing in the protection of your business.

Related posts:

1. Security Issues Related to Insider Threats
2. Cybercrime Small Business Survey
3. Physical Security Issues in the Hospitality Industry