Nine out of ten employees know they have a password problem, but they continue to behave the same way. When attackers disclosed a breach, the total cost was $1 million more than it would have been had the internal team caught it first.īusinesses are particularly vulnerable when it comes to how they manage (or don’t manage) their passwords. Only 1 in 3 breaches were identified by an organization’s own security teams and tools, while a full 67% of breaches were identified by a benign third party or even the attackers themselves. The average cost of a data breach in 2023 was $4.45 million, representing a 15% increase over the previous three years. When businesses cannot adequately defend themselves from a cyber attack, the impact to the bottom line is swift and severe. According to the World Economic Forum, the cybersecurity measures that businesses, governments, and individual people take are often outstripped or rendered obsolete by increasingly sophisticated and frequent cyber crimes. Cybersecurity threats are growing more sophisticated and severeĪll businesses, regardless of their size or the industry they’re in, are struggling to protect their critical data from today’s cyber threats. Here’s how a business password manager can help your company address both of these pressing challenges at the same time and, in doing so, lay the foundation for a password future that is even more secure. If you leave password safety up to them, it’s a matter of when you’ll fall victim to a data breach - not if. Meanwhile, even though employees are aware of the dangers involved with using weak passwords or re-using passwords across multiple accounts, they show no signs of changing their behavior. Cyber attackers are bolder than ever, targeting business of all kinds with increasingly audacious and damaging attacks. Your business is up against some strong headwinds.
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