For cyber attackers, size does not matter and they attack large and small businesses likewise. They even hesitate before attacking a large organization only because they are aware that they must have prepared for such risks. On average, a cyber-attack and only a single breach can cost up to 3 million dollars. Now, do small businesses have this kind of financial cushion to suffer this big blow? Apart from the fact that cyber-attacks need to be prevented and business owners should be on the lookout of them, it is very important for them to know as to what could be the possible repercussions of those attacks.
Hacking is the process of getting unauthorized access to computer resources of an organization. Today, it is not just organizations but small businesses too. The book, Small Business-A Hacker’s Playground (ISBN 978-1071086070), that there are a number of kinds of cyber-crimes that do not drive suspicion towards them as destructive as they are and are not very conspicuous which causes the companies to not anticipate the risk and are too late to do anything about the breach. When a business’s database is breached, it does not just bring a lot of financial crisis or other data related glitch, but it also affects a company’s reputation as well.
Cyber-crime impacts businesses in a lot of ways other than damaging their financials. Organizations have to rethink everything such as, how they can collect and store information to ensure that sensitive information is not at risk anymore. A lot of companies have stopped keeping the customers' financial and personal information, such as credit card numbers, social security numbers, and birth dates at different addresses and more secure locations.
Not just this, a lot of small businesses and companies had to shut down their online stores because to protect them against cyber-theft. Today’s customers are also getting more and more interested in knowing as to how the organizations are dealing with cyber-attacks and handling security issues.A cyber-attacks come with a decrease in business and cash flows for an organization. Financial damages are one of the most feared repercussions of a cyber-attack. The costs to go up, expenses are incurred in order to set everything up from scratch and businesses sometimes have to bear refunds to the clients.\
In short, we often hear about cyber-attacks happening all around the world through news, media, social platforms, etc. and these threats have taken the IT industry by surprise, more like a shock, because they are still in the phase of figuring out as to how they can efficiently deal with the cyber-crimes and how they can protect their businesses.
Author Bio:
Jason Rorie grew up in Mississippi and served in the US Navy for w few years where he learned about the technical and security-related aspects along with work ethics, leadership, and conduct. He has a degree in Computer network engineering and writes to create awareness among people about cybercrimes.
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