The news is replete with stories of cybercrime these days; we are constantly being reminded that criminal gangs are moving away from the CCTV covered streets and into the far better hidden cyber world where they are free to steal data, hack networks, and disrupt business operations unless we ensure that our networks are continuously and effectively protected. Can you afford the significant amount of time and money it takes to recover from a cyberattack and the associated risk of enormous data loss? If not, then take a look at our brief guide for three reasons you should keep your network well protected.
Digital identity theft is getting more common
In the US alone, over 14 million instances of identity theft occurred in 2018. It’s one of the easiest crimes for a cyber crook to undertake because our personal information is everywhere on the web. Without proper protection, a company can suffer a data breach that leads to their customer’s details being sold to the highest bidder. Passed on to the wrong hands, that data is quickly turned into fast cash for these criminals who know where to get the best price for a stolen identity on the dark web.
Losing your data can cause huge financial losses
Did you know that over 140,000 hard drives fail each year in the US? That’s a lot of data and if it’s not backed up then that data is lost to the wind. Unless you have a secure data recovery plan in place then you risk becoming one of the 60% of businesses that go out of business within a year of a big data loss situation.
It doesn’t matter the size of the business; most organizations rely on significant amounts of data to run efficiently on a daily basis. From stock levels, logistics and customer information to financial and staff personal data, if it falls into the wrong hands or disappears completely then the financial burden of that disaster can be too big for some companies to carry. Even a list of passwords could compromise every device used by staff, including smartphones, tablets, and laptops, which are often carried off-site and become immediately vulnerable to theft and data theft.
You are only as good as they say you are and if they are reporting you as culpable for a data breach that leads to significant customer data loss, then the press and the social media influencers are going to have a field day with your brand reputation. They will want to know why you didn’t protect your customers’ personal data in the first place so don’t leave it to chance, ensure that your IT security infrastructure is robust enough to keep your reputation intact and the customer confidence you have worked so hard to earn in the first place.
Keeping your customer’s personal and financial data as safe as possible, employing preventive maintenance to your data loss prevention strategy, having a data recovery plan and guarding that hard-earned reputation will save you a lot of money in the long term, so always make sure you invest sensibly in your IT security systems.