Cyber-attacks continue to challenge sites and business owners. Fortune says in 2021, Governments reports a thousandfold increase in attacks, and the health industry was a core target by hackers with ransomware.
If you’ve got an online presence like a website, then 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, you might not be taking the threat as seriously as you should. Don’t forget that 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, you will find yourself in a situation where you lose the trust of your customers.
Here are a few things you need to know to protect your business from this threat.
Basic Tech Is More Vulnerable Than You Think
Vulnerabilities can happen to any business, including the best in the industry. Microsoft and Intel revealed that they have had vulnerabilities with their software. Intel went as far as saying they were unaware of holes in their security for years.
Always research software security flaws before signing up to use them in your own business. You might find that favoring some of the more well-known brands on the market isn’t the best idea.
Common areas of vulnerability to cyberattacks include where data is managed:
- Encryption, passwords, authentication – when they’re not used properly
- Systems resource management, e.g., how resources like memory are treated
- Connection between devices, computers and networks
A Hack Isn’t Always Preventable
Think of bugs, viruses, and hacks as illnesses. Eventually, a typical illness in the body can be treated with an antibiotic. Then the virus evolves, so the antibiotic is no longer effective, and a new med needs to be created. The same can be said for computer hacks, and this means there may be a time when 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 get insurance cover for potential financial loss. Interestingly, typical business insurance won’t cover you for this. Instead, you need to look at the insurance that includes cyber liability coverage. As hacks become more common, this will 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 cyber business security issues right now. See this article on 5 ways to prevent cyberattacks so you can improve your security making it harder for hackers to succeed.
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