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premises Security Stats

How Vulnerable are Your People and Property?

Here are more statistics that surprised us!

These stats may surprise you too, and you’ll understand why we champion education on security and making improvements that allow your business to thrive.
• Theft, both internal and external, accounts for 65% of shrink overall and up to 70% in some retail sectors. (National Retail Security Survey, 2023)
• U.S. data breaches surpassed 3,000 in 2023, impacting an estimated 353,027,892 victims. (Verizon Business, 2024 Data Breach Investigation Report)
• 6,845,908,997 known records were breached in 2,741 publicly disclosed incidents in the USA from November 2023 – April 2024, showing a significant increase in impact over 2023 totals. (IT Governance USA, June 2024)
• The average cost of a data breach in 2023 was $4.45 million. (IBM report)
• Only 4% of 1,663 IT professionals had sufficient security for 100% of their data in the cloud which meant that 96% of those organizations didn't have the necessary security to protect all of their sensitive data. (Cloud Security Alliance report, May 2023)
• 82% of all data breaches involve the human element, such as human error, credential theft, or social engineering, such as phishing. (Verizon Business, 2024 Data Breach Investigation Report)
• Studies show that surveillance systems result in a 25-51% reduction in crime, depending on location and source.
• FBI statistics say 60% of commercial burglaries occur after hours when no one is on site.

From Forbes Advisor, June 2024:

• 79% of small business retailers reported monthly losses between $500 and $2,500 due to theft.
• To make up for losses due to theft, most retail small business owners have increased prices (64%) and/or installed security cameras (50%).
• Small business retailers with 21 to 30 employees were most likely to experience internal theft (66%), followed by businesses with one to 20 employees (63%).
• Small business retailers with 41 to 50 employees were least likely to experience internal theft (30%), followed by businesses with 31 to 40 employees (29%).
• The majority of small business retailers (58%) report that current or former employees have stolen from their business, including cash, money, and/or physical products
• The survey also ranked Minnesota as the 10th worst state in their retail theft index, meaning it accounts for 10% more retail crime than expected, based on its share of the population.

Contact us for a free, basic risk assessment. Let’s talk about these growing concerns and how to best protect your business. It’s time to get serious!
Premises Security:

Did You Know?

Surveillance systems result in a 25-51% reduction in crime.

60% of commercial burglaries occur after hours when no one is on site.

79% of small business retailers incur monthly theft losses between $500 and $2,500.

58% of small business retailers say that employees have stolen from the business.

Minnesota ranked as the 10th worst state in the retail theft index.
“There’s no silver bullet solution with cyber security. A layered defense is the only viable defense.” - James Scott, Institute for Critical Infrastructure Technology