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Why Cybersecurity Is Becoming A Top-Priority Investment

New IdentityTheft Scam

In the e-commerce industry alone, there are hundreds of thousands of sites in operation. All of these sites can benefit from investing in cybersecurity. Transactions conducted on e-commerce sites require the exchange of confidential data that can be compromised at any time if companies don’t have the right type of cybersecurity protection.

If a company’s data is compromised and hackers get ahold of customers’ credit card information, the company is responsible for that breach of data. What’s even worse is that it has now lost the trust of loyal customers, losing hundreds of thousands of dollars in revenue in recurring and potential new sales.

And it’s not just e-commerce companies that need to be wary of cyber thieves. Sensitive data like social security numbers, routing numbers, passcodes and other types of relevant information can be stolen for identity theft.

Cybersecurity is needed in every business industry.

Your company doesn’t have to be in the business of handling financial information to take cyber threats seriously, either. Companies with complex operations cannot afford to have a cybersecurity breach.

Having served in the military for over a decade, I understand how important it is to make cybersecurity a top investment. My time in Afghanistan gave me better insight as to how intelligence can easily be extracted. What I learned is that cybersecurity is applicable to every business operation, whether it’s in the military, corporations or entrepreneurs.

Why should you invest in cybersecurity?

The main goal for investing in cybersecurity is to protect customer data. However, it doesn’t stop there. In a business to consumer (B2C) operation, you likely also have a business to business (B2B) operation with suppliers and vendors where sensitive information is exchanged. As a business, your business’s private information is stored in other servers that you can only hope are secure. Many business owners are concerned about their suppliers’ cybersecurity.

When I launched my media aviation publishing company, I made sure that cybersecurity was a priority by doing the research to find which type of software best suited my B2B operation. Client contact and payment information need to remain secure at all times, so look for software that make securing this information a priority. Using tools like Privnote is one way to securely transfer valuable data. Privnote is a platform that securely transfers data online and then self-destructs.

For protecting large amounts of data, the smartest way to go about finding the right cybersecurity company is to ask around for referrals. You’re better off doing this than making a blind Google search and hoping for the best. If a cybersecurity company is good enough for your colleagues and peers, then it will likely be good enough for your business.

My business develops engaging content that attracts the millennial generation, which means we launch a considerable amount of online advertising campaigns. Some of these campaigns require creating B2B accounts with other platforms, so I’m not only protecting my clients’ information, but also my own. Additionally, your product itself needs to be protected. Cyber thieves will try to steal your products’ Amazon standard identification number code and profit from your online sales.

What types of cyber threats should you be aware of?

The most common types of cyberattacks typically come from viruses, spam and identity fraud. My business is fortunate enough to not be a victim of any breach of data, but that doesn’t mean I should get comfortable. Even the most robust cybersecurity tech isn’t 100% effective. This is because cyber thieves are always plotting ways to breach new security systems. However, a considerable part of data compromise is a result of human behavior — not being educated about the dangers of cyber predators.

Cybersecurity is about equipping your business with the right technology and informing your employees on how to avoid falling into the traps cyber thieves hatch. It’s about investing in the necessary training to educate your employees on how to protect your company’s information, your customers’ information and your B2B’s information. Schedule routine meetings that focus on the latest cybersecurity scams and share what your employees should be looking out for. Additionally, you can encourage employees to subscribe to Homeland Security’s Cybersecurity page for updates and prevention tactics. Making cybersecurity a top priority is the key to retaining trusted B2B and B2C relationships.

Source: on 2018-08-31 07:26:15

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