The world has considerably shifted to the digital side. Gone are the days where we had records rooms having shelves after shelves of paperwork. All of that can now be stored in the size of your thumb on a pen drive or not physically at all, in the cloud. Companies and brands are coming to the understanding of the need for an IT department, in this day and age. It was only a few years ago that people agreed with, just having an antivirus, encryption tools and the right firewalls, you are good to go.
However, ask a cyber-security expert the question on what it takes to keep your data safe and away from prying eyes, and they will tell you that there are a myriad of elements. So the question that business owner and you should ask is….what has changed?
A Rampant Rise In Cybercrime
There has been a rise in the number of cyber-attacks. The risk vs. reward ratio is tipped more to the side of rewards. On one end of the spectrum of information and technology attacks, we have the newbies that try to sneak in a ransomware in the hopes of landing a few crumbs. On the other end of the spectrum we have Governments that sponsor hackers to penetrate the defences of other parties and Nations because of it being seen as a cleaner form of attack than picking up arms.
The Damage To Companies
Data is power, but at the same time it has become a very sensitive subject too. We deliberately hand over our personal information in full public view to social media and other portals. When this information is taken and used for ill-intent, it becomes dangerous and tarnishes the image of brands who keep information protected. A few notables include:
Facebook- Close to 540 million user records were exposed on Amazon’s cloud computing services.
Yahoo- the web giant had undergone a breach exposing close to 3 billion customer accounts. There is no number to quantify the reputational damage, and over the years people lost trust when giving their personal information to anything Yahoo.
Equifax-a global credit rating agency that experienced a data breach of 147 million customers; it took them close to $500 million to recover from the hack.
The statistics that say that you are at potential risk of losing out if you don’t invest in IT security is staggering. Be on the safer side and keep yourself and your business protected.