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3 Cyber Security Issues Business Owners Must Be Aware Of

business security

Cyber attacks have reached a record high this year, and an estimated one-third of businesses on the market will be hit by a cyber attack at some point in 2018. Just let that sink in for a moment. There’s roughly a thirty percent chance that your business is going to be hit by a hack. If this thought doesn’t worry you, then you might not be taking the threat as seriously as you should. Don’t forget, a cyber attack won’t be targeting you and your business. Instead, it will be seeking out your customers and the personal data you hold on them. If you’re not careful, then you will find yourself in a situation where you lose the trust of your customers. Here are a few things that you need to know to protect your business from this threat.

Basic Tech Is More Vulnerable Than You Think

It’s true, Microsoft and Intel recently revealed that their hardware was significantly weak when faced with a particularly nasty piece of software that could be used by hackers afor cyber attacks. Indeed, Intel revealed that this hole in their security had been present for years, but it was only recently that hackers actually started to take notice of it. Even some of the modern hardware that you can buy today is exposed to this vulnerability.

As such, it is worth researching which tech company’s products are secure and which have left themselves open to issues like this. You might find that favoring some of the more well-known brands on the market isn’t the best idea.

A Hack Isn’t Always Preventable

Think of bugs, viruses, and hacks like illnesses. Eventually, a typical illness in the body can be treated with an antibiotic. Then the virus evolves so that the antibiotic is no longer effective and a new med needs to be created. The same is true for computer hacks, and this means at some point you will face a tech virus when there is no system in place to fight back against it. That’s why you must be prepared for the worst.

This means you need to insure your company for a potential financial loss. Interestingly, typical business insurance won’t cover you for this. Instead, you need to look at insurance quotes that include cyber liability coverage. As hacks become more common, this is going to be one of the only ways that business owners can protect themselves.

Cryptocurrency Isn’t A Secure Solution

Finally, business owners worried about theft in their business are quickly turning towards cryptocurrency as a potential solution. Many cryptocurrency enthusiasts boast about how the currency is impervious to hacks and therefore more secure. However, this is not the case. Recently, there have been a number of high profile DNS server hacks used to steal money from cryptocurrency accounts. So before you start implementing the blockchain into your business model, you may want to consider whether it’s really as secure as people suggest. The answer may surprise and concern you.

We hope this provides you with information on some of the issues surrounding cyber business security right now.

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