Start-ups beware: Security is not just for established companies. One big data breach could cost you your business.
Big companies such as Sony, Home Depot and Target have been able to weather major data breaches, but young companies that aren't taking security seriously are at high risk of losing everything when they get hit with an attack, security industry pros said on Monday at eMerge Americas conference.
"You are never too small. If you have a vulnerability and it gets exploited. It will bring a great deal of attention on you, and the smaller the start-up the more likely it is that a major incident will kill your company," said Matt Anthony, a senior vice president at the Herjavec Group, a security consulting company.
So what should young companies be doing to protect themselves?
First, start-ups should have a plan in place for how they will deal with a breach, said Ian Ballon, a shareholder in Greenberg Traurig LLP.
"If you are not planning ahead you are going to have terrible, terrible legal problems," said Ballon, who defends companies that have been breached.
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