Did you know many small businesses are one fraudulent wire transfer away from going out of business? The average cost for a data breach for a U.S. company as of 2016 was seven million dollars. Many businesses have already been breached but don't even know it. So how do you protect yourself and your company's information secure? Scott Shackelford, assistant professor of business law and ethics for the Kelley School of Business shares how you can keep your information protected from hackers in this episode of The ROI Podcast.

Show Notes: 0:01 What does "hacker" mean to you? 0:36 Introduction to The ROI Podcast with Shane Simmons and Phil Powell. 1:08 In this episode of the podcast, Shane and Phil talk with Scott Shackelford, assistant professor of business law and ethics for the Kelley School of Business. 1:47 The average cost of a data breach for a U.S. company as of 2016 was seven million dollars. 2:19 There have been several data breaches in Indiana, including Anthem. 2:56 It's not only big companies that can be targeted. 4:54 How do you protect yourself and your data from being hacked? 5:25 There's a focus on offense rather than defense in the cybersecurity space. 6:04 Right now many companies have a faith-based approach to cybersecurity where they pray every night nothing bad will happen. 8:00 Tips for mitigating your risk of being hacked. 10:40 Shane and Phil wrap-up this episode of The ROI Podcast.

----

Do you have a question? Looking to get help on a business decision? Know a great guest for our show? Email roipod@iupui.edu so we can help your organization make better business decisions.

----

Ready to take your next step? Check out if a Kelley MBA is right for you: https://bit.ly/3m2G6D5

Why not doing this puts you at risk of being hacked | Ep. 27