Physical security incidents cost companies $1 trillion in 2022

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Written By: J. Lasswell
September 26, 2023

In the past year, 25% of companies saw a decline in their corporate value due to an internal or external security incident.

A new report by Allied Universal, a global security and facility services provider, has found that physical security incidents cost companies $1 trillion in 2022. This is a significant increase from the previous year. 

The report also found that the biggest security concern for the next year is economic unrest. Other major threats include climate change, social unrest, and disruption to energy supplies.

Companies expect to spend significantly more on security in the next year in response to these threats. The report found that 51% of organizations plan to increase security investments as a result of a breach, including incident response planning and testing, employee training, and threat detection and response tools.

What can organizations do to protect themselves?

There are a number of things that organizations can do to protect themselves from physical security incidents, including:

- Conducting regular risk & vulnerability assessments to identify and mitigate vulnerabilities.

- Implementing and enforcing security policies and procedures. 

- Investing in security technology, such as access control systems, video surveillance, and intrusion detection systems. 

- Training employees on security awareness and procedures.

The World Security Report is a valuable resource for businesses of all sizes. It provides insights into the latest security threats and trends, as well as recommendations for how to protect against them.

Businesses should take the time to review the report and develop a security plan that is tailored to their specific needs. By investing in security, businesses can protect their assets, people, and reputation.

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