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Protecting Your Business from Cybercrime

We are reliant on the internet and being connected to the digital world more than ever. All businesses now have a heavy online presence, while most individuals have a Facebook profile and pretty much all of us shop online. 

Thanks to all of this, the internet is a huge hub of data which cybercriminals want to get their hands on for their personal and financial gain. Unfortunately, cybercrime is hugely diverse and comes in many different forms. Constantly new and insidious methods are used to commit cybercrime, which devastates the lives of millions of people and causes huge financial harm to businesses across the world.

Online businesses particularly are target for cybercriminals, because of all the sensitive financial data they hold. It is not just online businesses which are under threat, though; individuals are just as vulnerable to cybercrime.

Cybercrime is easily preventable, however, with the right security procedures in place and investment in certain software and security services. Companies are beginning to recognize the importance of this and are spending big bucks on securing their businesses and business interests.

For example, in the UK, the average security breach costs around £36,500, so it should come as no big surprise that the cybersecurity industry is worth over $120 billion! It is a massive business and many companies are investing in it.

Preventing Cybercrime

Ransomware was the most popular and widely used tool to commit cybercrime in 2017, with its monthly rate being over ten times higher than in 2016. There was a record breaking 700 million ransomware attacks in 2017.

With this in mind, then, how can you protect your business? Well, it is actually pretty simple and as a small business, you probably do not need to invest much into cybersecurity, as long as every investment is strategically valuable.

Following some simple steps is all you need to do to be on your way to having a secure and safe commercial environment.

  • Encrypt wireless networks and use a strong password. Change it regularly. Public networks are not secure and you should not be doing business over them. Ideally, any serious dealing should go through an encrypted private network tunnel.
  • Encrypt all files and folders which contain sensitive information. Keep your operating system and applications up to date.
  • Operate a strict password policy if you employ other people.
  • Educate your employees on the importance of cybersecurity.

Want to learn more about cybercrime and the grip it has on our modern world? Check out our infographic below!