Cybercrime has forever changed the ways online businesses work. Any modern entrepreneur needs to be literate in cybercrime and security. Let’s take a look.
What Can Hackers Do To A Business?
Think about all the pieces of sensitive information your business handles. This may include:
- Sensitive customer data
- Emails
- Financial information
- Business plans
- Employee information
With this stuff, hackers can:
- Hold your business data hostage and extort you for money
- Sell your client’s data
- Commit identity fraud
This all results in a massive loss of capital. It costs thousands to recover data, but your business will also lose trust with customers. There’s no knowing the loss of potential earnings a data breach costs.
Cybercrime and How It Changes Online Markets
So did hackers change the way we do online business? Here are some examples.
Increased Demand For Higher Security Protocols
Businesses had to step up their security game to respond to the new kinds of cybercrime. Firewalls and antivirus software don’t cut it anymore. Enterprises need better security measures. This both includes smart use of human and technological resources.
Smart businesses these days educate their employees and use tools like a VPN. This way, they can keep their customer’s sensitive data safe from attack.
Need For Better Password Practices
Good password hygiene is the game’s name when it comes to online safety. This is why password policies have gotten more strict in the past couple of decades. The password needs to be properly complex to be hard to breach.
That said, there is a balance to strike with password hygiene. You need to remember the purpose of the password. It’s something your human employees need to be able to remember so they can access the things they need. If you require employees to change passwords too frequently, they start writing them down. This also represents a security issue.
Altered Customer Behavior
These days, customers are savvy about their data. They do not trust businesses that do not keep their data safe. A security breach doesn’t just cause a loss of capital; it causes a loss of credibility. A data breach will lose what would have been lifelong customers.
What Can Businesses Do to Keep Up?
Cybersecurity is almost like a game of whack-a-mole. Hackers develop new ways to mess with businesses; software developers find ways to patch those holes. When it comes to keeping your business on top of the game, there are three things you want to consider:
Employee Education
Human error is by far the biggest risk to your business’ security. Hackers target employees before they try to find holes in your tech.
You need to make sure all onboarded employees receive cybersecurity education. Do not assume anyone you hire is aware of proper password practices. You will also need to inform them of common scams like phishing emails.
Protective Technology
Whatever your business is, you need to factor in your IT budget as part of your overhead. There are two technological tools all modern businesses need to invest in: a VPN and encrypted cloud storage.
A VPN is the first line of defense against hackers. It works like an invisibility cloak for data. It encrypts all your data end-to-end so no one can see it. It also masks your IP address, so no one can tell where the data (that they can’t see) is coming from.
You’ll want to select a VPN service that can expand your business. Check NordVPN review for more security and speed information.
The other thing a business needs: is encrypted cloud storage. That backs up your files and stores them in a different location. These can be accessed from anywhere globally, as long as you’re granted permission. If you do get attacked, you can still access your data.
Security Maintenance
Cybersecurity is not a one-and-done type of deal. Remember how we said it’s like whack-a-mole? Many businesses get hit right as they are hitting their stride because they get lazy.
To avoid this, you want to think about your cybersecurity long game. Do you have all devices set up to update automatically? What kind of cybersecurity is continuing education set up for your employees? Keeping up with these can close holes that hackers otherwise would have been able to exploit.
Bottom Line
Cybercrime can cripple your budding business. But with the proper precautions, your business can stay safe. Keep your employees educated and invest in tech security like a VPN.
Ella Marcotte
Latest posts by Ella Marcotte (see all)
- UA vs GA4: The 4 Big Differences You Need To Know - April 8, 2024
- Understanding The Role Of Control Valves In Industrial Automation - April 8, 2024
- How Automation Can Boost Your Business Outcomes - April 4, 2024
