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3 Ways a Digital Security Breach Can Damage Your Business

With the majority of businesses being reliant on online connectivity and IT to help them perform countless day-to-day tasks, a digital security breach for any businesses, big or small, can be disastrous. With the increased emphasis on technology in modern business, it means there are increased risks to navigate. From malware and viruses to stolen data, there’s plenty of threats to be cautious of, with each being equally disastrous as the other.

 

1.   It Can Cause Revenue Loss

 

Some security breaches can make it impossible to continue operations until the issue is fixed, as some viruses and malware take days to be removed. The resulting stall in productivity can then lead to a huge revenue loss in the passing days, which can be particularly damaging for small businesses.

 

The most common way this happens is through malware that gets installed into a PC and spreads across the network, passing around malicious software that infects all connected devices and computers, making them unusable.

 

A more extreme case is ransomware, which is a form of malware that once infected, locks files away from the user, making them inaccessible and demands a ransom be paid — usually in bitcoin — in exchange for the promise of unlocking the device. One version of ransomware, known as WannaCry, infected the UK’s national health service in 2017 and cost them a whopping $112million in damages.

 

The best way to protect a company from these issues is to never open a link sent from an unknown email address, or ones that are on unofficial websites, as these links can easily download codes that once clicked will start the installation process.

 

2.   Criminals Could Steal Your Data

 

An online security breach can lead to important staff and customer information being stolen by cybercriminals and used for malicious means. The main way hackers gain this information is through spyware that tracks the login details you input and the websites you go to, as well as phishing websites that pretend to be legitimate but that store your details once you input them.

 

A data breach can be disastrous for a business and also its employees as data such as bank details and other personal information can lead to identity theft and fraud, putting countless people at risk of harm.

 

It can also affect the reputation of the business, as customers might not be willing to trust you in the future as they may not feel that their data is being properly looked after.

 

A good way to ensure this never happens is to employ a third party IT support company such as USWired who will install all the security features needed such as firewalls, authentication systems and anti-virus software as well as maintaining your IT solutions.

 

3.   You Could Lose Data

 

Not only does an online security breach mean that criminals can access your data, it also means that some may delete your data altogether. Some malware when it’s installed to an infected machine can delete files that are critical for the running of the business, meaning that without these, the business will not be able to function and would lead to a period of downtime and loss of revenue.

 

The best way to defend against the loss of data is to back up key files regularly, either onto a separate hard drive or, as most are doing these days, cloud storage on a remote server. Backing up data means that if some is lost, it’ll be easier for a business to recover and return to normality quicker.

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