Attacks involving compromised passwords cost SMBs around $384,598 per attack (Ponemon Institute and Keeper Security): According to a report by the Ponemon Institute and Keeper Security, 68% of SMBs worldwide say their employees’ passwords were lost or stolen in 2019. Additionally, 68% also said employees using weak passwords was one of the biggest causes of hacking issues. Attacks involving compromised passwords cost around $384,598 per attack. Unfortunately, only 48% of companies require employees to use strong or unique passwords, and 55% of brands say they don’t have employee password usage policies. Only 38% of SMBs stop employees from using the same password on all internal systems.
100 Mind-Blowing Ponemon Facts
Remote working may be causing increased hacking issues (IBM): According to IBM and the Ponemon Institute, there’s been a 10% increase in the average total cost of data breaches between 2020 and 2021. Remote working and digital transformation caused by the pandemic of 2020 increased the average cost of a data breach by around $1.07 million. During the pandemic, IBM notes customer PII was the most common type of record lost, included in around 44% of breaches, and each record was worth around $180.