The Expert Podcast

• Main Points Covered:
  • Severity of the Threat:
    • 60% of companies that experience a cyber attack go out of business within six months.
    • Small and midsize businesses are the most common targets for cyber attacks.
    • The impact can be especially severe for businesses like repair shops, stores, or restaurants.
  • Types of Damage Caused by Cyber Attacks:
    • Cyber attacks often involve holding businesses for ransom rather than just infiltrating systems.
    • Attackers may shut down essential systems such as point-of-sale (POS), payroll, accounts receivable, or customer management systems (CMS).
    • Potential consequences include the deletion of client files or selling sensitive data on the dark web.
  • Financial and Operational Impact:
    • Inability to process sales, collect payments, pay employees, or buy from vendors for weeks can cause irreversible damage.
    • Companies can face customer loss, employee turnover, financial penalties, and government enforcement actions for data breaches.
  • Case Study - CDK Attack:
    • A cyber attack shut down 15,000 car dealerships for a month, disrupting sales and repairs.
    • Larger businesses may survive with financial reserves, but small businesses often lack such a safety net.
  • Recommended Cybersecurity Practices:
    • Implement active monitoring and develop a response plan to minimize risks.
    • Don’t assume that being a non-tech company reduces your vulnerability.
• Call to Action:
  • If you have questions about protecting your business from cyber attacks or managing potential losses, click the link below for more information.
  • Access live, one-on-one consultations with experts in fields such as investigations, insurance, civil mediation, real estate, business development, and more.
  • Visit actualhuman.com for expert advice tailored to your situation.
• Additional Resources:
  • Explore previous episodes discussing cybersecurity best practices and protective measures.
  • Submit questions or comments about the episode via the link below.