In today’s climate, security threats are a reality that we all must personally and professionally come to understand. It’s estimated that cybercrime will cost approximately $6 trillion per year on average through 2021. In addition to the immediate and expensive out of pocket costs, businesses have reputation and brand risk exposure that may be insurmountable after a breach.
A recent Ponemon Institute Study revealed 79% of businesses surveyed lack comprehensive strategies to understand, monitor and manage external threats. The 505 enterprises and financial institutions surveyed experienced an average of more than one cyber attack each month and spent an average of almost $3.5 million to deal with the attacks.
Security attacks from malicious actors or nation-states are constantly looking to exploit vulnerabilities and create opportunities to steal information and extort money. These physical and cyber threats are growing and developing in sophistication at a staggering rate and have the absolute ability to put any size company in jeopardy.
In efforts to mitigate cyber risk for our merchants and processing partners, MIDsource is proud to introduce (CARP) Cyber Assessment Risk Profile. CARP is a multi-point, cyber security assessment provided to assist merchants in identifying cyber threat indicators ultimately enabling the affected parties to act and mitigate these vulnerabilities by increasing their cyber security posture.
CARP includes a review of 5 key cyber security and risk components:
Moving forward, CARP will continue to help MIDsource in our ongoing efforts to bring valuable services to merchants that are not offered by other payments providers. If MIDsource can assist in thwarting even one cyber-attack that could result in a data breach or any other brand or reputation impacting event, CARP is an immeasurable success.
Call MIDsource today… The Processing (and Risk Management) Solutions You’ve Been Looking For.