There is no denying that we now live in a world where we are becoming more and more reliant on technology. We need it for almost everything that we do. For businesses, technology is more than just a help for productivity, it’s what drives a company to be more competitive with its advancements over the years. It is now very easy to talk to customers because of technology thru emailing. But with its advantages comes bigger risks.
Let’s face it, technology has its advantages, but without security, the cons outweigh the pros. More and more hackers are emerging and becoming smarter when it comes to infiltrating a company’s system. You use emails to engage with your customers? Phishing emails are now a thing and it is very damaging to a business when they fall victim of one. Over the years, several cyber attacks have occurred to companies of all sizes.
Did you know? About 78% of businesses are concerned about their cybersecurity posture. According to statistics, only 5% of company folders are typically properly secured. Moreover, the average cost of a data breach in the US has increased to $8.64 million, an all-time high. By 2025, it is estimated that cybercrime will cost the world $10.5 trillion yearly.
Here are common cyberattack types in the recent years:
Ransomware
This is a type of malicious software, also known as malware, that prevents you from accessing your computer files, systems, or networks and demands a ransom in exchange for their return. Ransomware attacks can result in costly operational disruptions as well as the loss of critical information and data. By opening an email attachment, clicking an ad, following a link, or even visiting a website that contains malware, you can unknowingly download ransomware onto your computer. When the code is loaded on a computer, it prevents access to the computer or the data and files stored on it.
Phishing
This is a type of social engineering attacks. This is when you get an email from someone you know or from a very reputable institution. This email would sometimes contain a link or an attachment that urges you to click on them. Once you’re done clicking, a malware would be installed, breach of your data, or other forms of attack.
Malware
An attacker tries to install malware on a company’s systems in a malware attack, a sort of hack. Phishing emails, exploiting security holes, or physical access to the system can all be used to do this. After the malware is set up, it can be used to steal data, introduce new malware, or interfere with business as usual.
Social Engineering
These attacks rely on social interaction with employees who are unwittingly persuaded to disclose sensitive information.
You built your business with everything that you have, and to become a victim of hackers would just be sad and would take a great toll on you, your employees, and your customers. That is why cybersecurity should be taken seriously and invested in.
Here are reasons why you need cybersecurity for your business:
You, your investors, and your clients will have peace of mind
Investing in cybersecurity to a reputable company will increase your confidence in your cybersecurity posture and help you sleep soundly at night knowing your company data is in good hands. Knowing that their data is securely protected is also going to make your clients and investors feel more secure. This leads to better business partnerships and increases the likelihood that your company will draw in new customers and investors. Nobody wants to believe that their personal information is in jeopardy when considering a new business contract, after all. Your chances of keeping your important connections intact increase with the level of protection you put in place.
You will safeguard yourself from a high-cost breach
Customers’ trust in your firm may be damaged both immediately and over time, depending on how the breach affects your business. Also, you might need to stop all regular business operations to follow investigation rules or respond to client questions. Additionally, neglecting to protect data can result in legal action. Many businesses believe that the cost of implementing cybersecurity measures is too high, but be assured that it is nothing in comparison to the fees you’ll face in the wake of a cyberattack.
The risks are worse for remote employees
Cyberattacks against employees who work from home have significantly increased in recent years, notably with the transition to remote work in 2020. As their personal connections are less secure than those used at work and they also have more access to company networks, the majority of these attacks originate from them.
To strengthen cybersecurity for remote work, companies should concentrate on the following areas:
- Establishing and distributing security guidelines for remote work.
- Virtual private network security (VPNs).
- Limiting the usage of personal devices.
- Authentication and authorization issues.
- Educating staff members about phishing and malware tactics designed to take advantage of the current circumstances.
- Securing routes for collaboration and communication.
- Providing attentive IT support.
The occurrence of cybercrime is rising
Given the rise in cybercrime, it is extremely risky to ignore cybersecurity. Your business will suffer a loss, but the question is not if it will, but rather when. In today’s digital environment, there are so many ways for hackers to uncover weak places that, unless you step up cybersecurity, you’re probably exposed in some way. As you can see, businesses in every industry need cybersecurity insurance. These risks are important and need to be treated seriously if your business has any sort of digital presence.
Investing in cybersecurity would be the best move for your company. Imagine having that peace of mind knowing you will not be a victim of a cyberattack and knowing that your company’s important data is always secured. Moreover, cybersecurity can be a great asset for your company to stay competitive and productive.
Here at Intelecis, we will give you that peace of mind. We have the top of the line technology to combat even sophisticated attacks and we have fast and friendly cybersecurity experts who will be available to you 24/7.
If you are ready to invest in cybersecurity for your business, talk to us today!
