Despite the extra attention which is now being given to cybersecurity there is still a huge number of business owners who don’t quite understand what the damage which a cyber attack could really be and how it could affect their company. This is one of the biggest threats which is facing businesses at the moment yet there are still so many who believe that increasing security looks like adding new cameras and more guards. To help us understand a little more about the clear dangers which a cyberattack can have on your business, we must first realize just what could happen in the event of a system breach from a cyber criminal. To help us with that, we spoke to industry expert Bharat Bhise HNA, who knows only too well what these risks are.
Very often we see hackers who are looking to break into systems in order to obtain personal details. These can be details of the clients who you look after or your own staff. In many cases they will do this in order to sell the information on, to people who will then use such details to commit identity fraud. In many criminal cases where people have traveled to other countries or passed through certain systems, they have done so using fake names and passports, they get the information from hackers who have taken it from business owners just like you. This is one of the biggest risks to your business, the loss of the personal details which people have entrusted you with.
The cost of a cyber attack, even for a small business can be huge. You must remember that once you have been hacked you will need to have your entire system reviewed, locked down and then beefed up in terms of security. Any damage to software or hardware which has been caused will also need to be fixed, and the price will just keep rising. Something else which is going to cost you a lot of money is the fact that your business is going to be out of action for at least a day, perhaps more. The cost of reparations and the fall out after an attack is huge, which is why it makes so much more sense to invest now and prevent it from happening. The investment in cybersecurity will be significantly cheaper than the cost of fixing things after it has happened.
Loss of Trust
The trust between you and your customers and other businesses who you work with is so incredibly hard to gain, yet so easy to throw away. If your systems are breached and important personal details or trade secrets are stolen, you are going to completely lose the trust of your partners and your customers. This will be something which takes years to recover from and certainly something which no business needs.
Don’t run the risk, invest in cybersecurity today.