Businesses have never been so at risk from the threat of fraud. Our need to be ever connected to our customers provides us with a wider range of opportunities, however, it also exposes us to much greater danger.
Whatever industry your business works in, it needs to be protected. There are no two ways about this.
But who faces the biggest threats? what are the dangers that these businesses face? and, what security measures should your business utilize to minimize the risk?
The At-Risk Sectors
While all businesses face the threat of random malicious activity in the form of automated attempts at finding weak spots in their digital infrastructure, there are of course organizations that will face a greater risk.
It may not surprise you to learn that the banking sector is the industry that is most at risk from the threat of a cyberattack. In 2018, the average cyberattack in the banking industry cost $18.4 million. A staggering rise of 11% against the previous year. And, as the threat rises, so do consumer fears. This can have wider implications on their willingness to put their money with at-risk institutions. High-profile attacks on major high street banks may help push some people toward alternative fin-tech and cryptocurrencies that have security hard-wired into their infrastructure.
With the presence of valuable patient data as the prize, criminals are known to attack healthcare organizations. This high-risk sector is a potential goldmine of usable data for criminals, who can exploit stolen patient files to run up debts in their names.
Protecting Your Organization
If your business does not have a strategy for mitigating the significant risk from cyber attack then it is sleepwalking off a cliff.
For healthcare organizations that do not have a dedicated IT department, specialist support from the likes of Healthy IT will ensure that they are able to meet the requirements of the specific healthcare data protection regulations.
A good IT service provider will provide a full audit of your systems, and procedures in order to vastly improve the security across the board. They will often support in areas such as team training, as well as providing round the clock system monitoring.
The financial sector is obviously another area that requires specialist support. This comes in the form of specialists that understand the specific data protection regulations surrounding card payments and payment systems.
Taking The Right Steps To Protect Yourself
Training should be a fundamental area in your business protection policy. Guiding your employees towards a greater understanding of the dangers of clicking on links in phishing emails, through to the reasons that they should never share their password, will help create a culture where the employees work together to protect the business.
Ensure that you are following good standards of practice at all times. This might include ensuring passwords are changed monthly, and that biometrics and multi-factor authentication are used at every opportunity to cut down on the risk of passwords being compromised and utilized.