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Table of Experts: The business of cybersecurity – Memphis Business Journal

Butler Snow attorney Melody McAnally recently served as a contributor to the Memphis Business Journal article, “Table of Experts: The business of cybersecurity.”

The following is an excerpt from the article:

MBJ: How big is the cyber risk facing small businesses these days? What are some of the potential consequences of a major cybersecurity breach at my business?

Melody McAnally: Forty-three percent of cyber attacks are aimed at small businesses, but only 14% are prepared to defend themselves, according to the Ponemon Institute. For small business owners, this means it is no longer a matter of if security threats will arise but when.

Hiscox, an insurance carrier, estimates each data breach costs a small business $200,000 on average, and the National Cyber Security Alliance reported 60% go out of business within six months of being victimized.

To read the article in its entirety, click here.

To download a PDF version of the article, click here.