2019 has been a year that saw many major state-level and corporate breaches, forcing governments and businesses to invest in advanced malware plans. Headlines constantly feature hackers attacking major organizations like Toyota, Facebook and Marriott — leaving millions at risk.
With most businesses being more and more dependent on digital systems for day-to-day operations, the need for a robust security architecture framework has become non-negotiable.
Let’s take a look at some reasons why your business needs the very best cybersecurity solution.
Protection of customers and employees
When your company experiences a data breach, everything from an Excel spreadsheet to the entire company database can be accessed and misused. This can lead to unauthorized log-ins or complete infrastructural breakdown, putting employee and customer data at risk and threatening your business’s bottom line
There are virtually limitless ways in which your business can be affected — the most common being compromising the company’s email server using phishing emails masquerading as official representatives, tricking customers into exposing their banking details.
Moreover, malicious software like ransomware can take over your company equipment — through perhaps an attached email — and hold your firm to ransom once it’s embedded. One such example of a high-profile attack was against the UK’s National Health Service, which affected the personal medical data of surgeries, hospitals, and clinics all across the country — a real wakeup call for organizations worldwide.
Earns Trust and protects productivity
Customer loyalty and trust is priceless. When your business is reputed to have a strong cybersecurity solution in place, it helps you earn the trust of not only customers but of potential business partners as well, putting you ahead of your less security-conscious competition.
The New York Times reported that the theft of customer data of US retail giant, Target, had a serious impact on the company’s profits. The massive drop in sales could’ve been avoided with a strong cybersecurity solution. Such solutions keep security breaches at bay or at least limits their severity, avoiding the risk of losing millions in addition to your customers’ faith.
The financial cost of a cyber attack
The most significant risk of a cyber-attack is the financial blow that the company has to bear. In 2016, Tesco ended up paying out £2.26m owing to a security breach that resulted in fraudulent removal of money from the bank accounts of around 20,000 customers. To make matters worse, Tesco was further fined £16.4m by the FCA, claiming that the bank failed to exercise due diligence in protecting its consumers against a cyberattack. Moreover, businesses are heavily fined if they don’t report breaches.
Cybersecurity reports warn CIOs that if businesses still leave their doors wide open to security breaches, despite the focus on the importance of cybersecurity, it’s their own fault!
That’s why at Lean Security, we aim to provide a comprehensive set of robust cyber security solutions including Web Application Vulnerability testing, malware detection services and cloud security assessments, and much more! From web security audits to penetration testing services our team of experts provides unprecedented online business solutions. Get in touch with us today for more information.