Cyber security refers to the protection of IT systems and network equipment. Believe it or not, cyber security is something only a few businesses think about. The ugly truth is that some of those firms do something about it when they get hacked!
As you can appreciate, prevention is better than the cure, so to speak. Cyber security is a topic that needs to be taken more seriously by businesses of all sizes. If you think you’re not in danger of getting hacked by rogue people, think again! Still not convinced? Take a look at these reasons why cyber security should be high on your priority list:
Infographic Provided by KEYper Systems
EVERYONE is a target
Some business owners will say there is never a chance they will become a target. But, it’s one of the most naive things they could ever say! All companies can become victims of hacking attacks and malware infections. It doesn’t matter whether they are small enterprises or large corporations.
Hackers love the challenge of finding security vulnerabilities in things like websites and LANs. They don’t care who they hack. They just want to see what damage they can do if they gain unauthorized entry. Especially to firms that don’t use secure online communications. Examples of such include secure Wi-Fi and encrypted messaging.
Ransomware can cost businesses money as well as time
One form of malicious software that can infect business computers is ransomware. This is where a full-screen image gets displayed when a system boots into the OS. The image usually makes a demand for money to “release” the computer.Sometimes, the ransomware might look like it’s from a local police force. They scare users by “detecting” suspicious activity and request a “fine.”
Of course, police forces don’t do such things. Some unwitting business owners pay the ransoms. That extorted money then gets used to fund other illegal activities – including terrorism.
One way to avoid such problems from happening is by installing ransomware protection software. Business owners can also ensure security software gets kept up-to-date to minimize risks.
You could be breaching PCI compliance
Does your business take card payments from its customers? It’s likely that it does. If that applies to you, cyber security is something you NEED to take more seriously. If you don’t comply with PCI DSS regulations, you could face a big fine from your bank.
You might think that PCI compliance doesn’t apply to you if you outsource your card payments. But, I’m afraid that it still does!
You could end up with disastrous financial consequences
Imagine if word got out that you’ve been the victim of a data breach. First of all, hackers can sell sensitive data about your customers to the highest bidder. Second, consumer confidence in your brand will drop sharply. And, third, you could even end up getting sued by disgruntled customers.
Cyber security isn’t just about ensuring you don’t become a victim of hacking or malware. It’s also about protecting the financial interests of your business.
Final thoughts
Those are just a few of many reasons why businesses of all sizes need to take cyber security more seriously. There is an increasing threat of hacking and viruses for all Internet-connected devices. Make sure your cyber security is up-to-scratch.
IntelligentHQ Your New Business Network.
IntelligentHQ is a Business network and an expert source for finance, capital markets and intelligence for thousands of global business professionals, startups, and companies.
We exist at the point of intersection between technology, social media, finance and innovation.
IntelligentHQ leverages innovation and scale of social digital technology, analytics, news and distribution to create an unparalleled, full digital medium and social business network spectrum.
IntelligentHQ is working hard, to become a trusted, and indispensable source of business news and analytics, within financial services and its associated supply chains and ecosystems.
