What would a security breach cost your organization?

Quentyn Taylor
Quentyn Taylor

Senior Director – Information Security and Global Response, Canon EMEA

According to Quocirca’s Print Security Landscape, 2022 report, the average cost of a print-related data breach is £632,000 (€750,100). 
That’s a lot of money, by anyone’s standard. However, this figure doesn’t account for the financial impact of reputational damage, disruption to your daily operations and more. These are much harder to calculate and may last significantly longer than the immediate threat, particularly when it means losing out on opportunities you would previously have exploited. It’s of grave concern that the same research reports that only 26% have complete confidence in print security, especially when it needn’t be complex. However, it’s important to recognise this lack of confidence, the challenges fuelling it and how to solve them. 
Hybrid working, blended working, teleworking – whatever you call it, it’s now generally accepted as the way we now work across Europe. And while it’s good news for employees and companies alike, location-flexible working can cause headaches for Information Security teams. Remote staff are either using consumer-grade technology (laptops, desktops, mobile phones and tablets) for work purposes or allowing members of their households to use their work equipment for leisure. This can inadvertently open the door to cyber criminals and accidents. In short, hybrid and remote working have made data security more complicated than it used to be – and attackers are taking advantage. 
An ineffective hybrid defence system, in your print infrastructure and beyond, is a one-way ticket to a world of issues. Data breaches can cost an organisation financially, but the loss of confidential information, such as academic research, medical records, or personal financial details, can be disastrous in terms of reputation and legal consequences. 
There is a silver lining. New ways of working offer an opportunity to reinforce your cybersecurity infrastructure and re-examine workflows in other areas. By bringing these up to date, your information lifecycle management becomes the key to efficient working that is also secure – not just protecting your data but actually using it. And, of course, help is at hand.  
Our latest security white paper outlines how we do this, following the guidelines set out in the NIST Cybersecurity Framework, which is recognised globally as a powerful best practice tool. Five core elements – ‘Identify’, ‘Protect’, ‘Detect’, ‘Respond’ and ‘Recover’ – simplify and clarify what is needed to safeguard your assets. This is just one of the reasons we have been praised as an industry leader in print and document security by Quocirca, who are an independent market insight provider. Our teams work to ensure that Canon devices offer in-built functions to support best-in-class cybersecurity, end-to-end and we encourage our customers to take the same approach within their organisations. 



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