In the modern world, more and more of our lives are making the transition online. From online shopping to online gaming, everything we do for fun and for work is moving into the world of the internet. We know how to keep ourselves from most threats in real life, but threats from online can be more difficult to identify and protect ourselves from.
We’ll be looking through the different types of cyber-attacks to be aware of as well as the benefits that come from having the best online protection.
The movement of businesses online
As the modern world becomes increasingly reliant on technology, companies have had to follow suit. The uptake in technological advancement has happened quicker than a lot of businesses can keep up with, and those who fail to make their business successful online can suffer.
As online shopping has become most people’s favourite way to shop, our high streets and physical shops have taken a hit. Even restaurants who fail to add their businesses onto delivery services can seen a downward trend in their profits.
It’s now imperative to have a website for any kind of business – and one that functions well. Previously, customers could get behind a bit of shabby chic in a physical shop. However, the same cannot be said for a website that doesn’t function in the way that it should.
Another element to contend with is making your website safe. This isn’t just for the customers benefit, but for yours as well.
The importance of cyber security for your online business
Cyber threats have also made advancements. We used to be able to tell quite quickly whether we were receiving a scam email, but cyber criminals have modified their tactics making it more difficult to spot.
Instead of emailing you from an obviously fraudulent address, they can now impersonate someone you know and are in frequent contact with to ensure their scam is a success.
This makes having good cyber security paramount. We know that security is important for all of us but why is it especially important for online businesses?
- Protects your customers and your personal data
One of the biggest benefits of having good cyber security is that is protects both your data, and the data of the customers who use your business. Due to GDPR rules, protecting your customers data is now a legality rather than just a common courtesy.
Not all hackers are after money – some are after your data or the data of the customers you provide a service to. This is a particular threat for businesses that deal with customers with considerable funds such as banks and other financial services.
Personal data can be used as a way to extract money as well. Having access to personal data or passwords to funds can be used by hackers to get you to hand over your money or risk having this data shared.
Online casinos are an example of an industry who need to ensure that their cyber security is advanced due to players needing to provide personal and sensitive data including their payment details. Many online casinos will offer a range of protected payment options including major debit cards, PayPal and some casinos even offer the option to pay via a phone bill to add an extra layer of protection for their players.
- Protects from external hacks
External threats to businesses cost a massive $1 trillion in 2020 alone. This goes to show just how important it is to make sure your business has watertight cyber security systems in place. If your business deals with a lot of money, an external hack could drain this if they are able to get access. Putting the necessary protection in place can save this from happening.
- Protection from internal hacks
Whether it’s by negligence or malice, sometimes hacks can come from inside your own company. This could be as innocent as someone clicking on a link they shouldn’t have, to someone within the company purposefully sharing something they shouldn’t.
- Improves productivity
Hackers can make it impossible for people to work as they slow down the business network. And if the network needs to be shut down completely because a risk has been found, this can lose your business valuable working time.
If the right measures aren’t put in place, there is a higher chance of this happening. That means your customers can’t use your site and your employees lose out on their ability to work. These costs escalate at an alarming rate so the better your security, the less chance of this happening.
- Helps regulate compliance
Although there are many regulatory systems already in place, the rate at which online industries are expanding means that there are always going to be more added to the list. We already have systems such as GDPR, HIPAA, and SOX but chances are that more are coming up. Having systems in place already means you won’t lose time having to set them up when they become a legal necessity.
Which industries have the biggest need for cyber security?
In short, it’s important for all businesses across industries to have the best cyber security. However, this is particularly important for those industries that revolve around money. This includes banks, financial services and even entertainment industries such as gaming sites who are always dealing with money, a lot of the time in huge quantities.
However, even if your business doesn’t fall into any of these categories, it’s still important to get ahead of the game. Setting up protection now can save you valuable time and money in the future.
Whichever industry you are operating in, cyber security has never been more important. Threats from cyber criminals are only set to become more advanced so the quicker you protect yourself and your business, the less work you’ll have to do in future.