Cybercriminals are turning away from hacking consumers into attacking businesses, according to a recent British study. Consumers reported 24 percent fewer offenses involving computer misuse compared to the previous report. “Computer misuse” offenses include any unauthorized access to computer material, which is not limited to desktop and laptop computers, the spread of viruses and other malicious software, hacking, and distributed denial of service (DDoS). Criminals are focusing more on organizations where there is greater profitability.
Ransomware, a malicious malware that prevents or limits users from accessing their database and system unless a ransom is paid, is blamed for massive losses by businesses worldwide. Cybersecurity Ventures predicts global ransomware damage costs to rise to $11.5 billion in 2019, with healthcare organizations as the worst victim. By 2019, a business is likely to fall prey to ransomware every 14 seconds.
There 101 reasons why you should arm your business with a reliable security system. Here’s a quick list of 5 for you.
1. Property crimes are expensive
Whether you’re running a start-up in your garage or a large corporation, security can make or break your business. According to the FBI’s latest report, there were more than 7.9 million property crimes in the country with larceny-theft accounting for 71.2 percent of all offenses against property. Burglary accounted for 19.1 percent of the crimes, while motor vehicle theft accounted for 9.7 percent. Collectively, these crimes resulted in losses for an estimated $15.6 billion.
Before equipping your business with firewalls and anti-virus protection, you need to safeguard your physical office with an alarm system. Honeywell security systems protect homes and businesses with its contacts and motion sensors that can be installed in 30-plus zones. You can customize the systems based on your unique needs through the expansion modules. Protect your business with a high-quality defense system.
2. An attack can cost you your business’ credibility
Yahoo, the former Internet giant, was the subject of the largest cyber attack yet. Between 2013 and 2014. The attack compromised the personal information of about three billion user accounts. Yahoo lost about $350 million from the breaches. However, the monetary losses were just the tip of the iceberg, so to speak. Yahoo has never regained its former glory with its credibility in ruins.
Your credibility may be more valuable than any asset in your business. A security breach can raise concerns about your trustworthiness and cast doubts in the mind of your investors and customers. It’s a must that all your business computers and devices are equipped with updated security software. A security firewall ensures your internal networks are armed against threats entering your network.
3. Use technology to combat cyber-enabled crimes
Technology has changed the way we do business. Today, a start-up in California can reach out to customers in the UK, India and other parts of the world via social media. Tech innovations are revolutionizing trade and commerce in ways we couldn’t have imagined decades ago. However, advancements can come with new threats. Your database may be a target of ransomware or identity theft. Your networks may be attacked by criminals who wish to breach your alarm system and break into your office.
You don’t give up technology because there’s a risk of cyber attacks. More than 51 percent of the global population are connected to the Internet and this rate is projected to climb to 65 percent by 2022. The world is on the road of digitization and there’s no turning back. If your business is to survive this age, it needs to master the power of technology. Use tech innovations for combat cyber-enabled crimes. Seek the services of security specialists to ensure that your defenses are impregnable.
4. Save on insurance expenses
Insurance companies extend discounts to homes and businesses that have a security system. In home insurance, insurers provide discounts and incentives for deadbolts, alarm system, fire extinguishers, smoke detectors, sprinkler systems, and fire alarm. The lower the risk, the lower the cost of insuring the property.
If your office is equipped with alarms and a 24-hour security monitoring system, you’re reducing your risk of losses and damage. The fewer incidents of the breach, the lower your chances of facing lawsuits from your customers. You can ask your insurance agent about liability insurance discounts for security and theft prevention equipment.
5. Security systems can bring down your operational costs
Security systems are not only to keep the bad guys away; these can help you bring down your operational costs. Today’s security systems have energy-saving features that can reduce your electricity consumption and carbon footprint. You can set your lighting to power on only when it detects human motion in a room or calibrate your thermostat to automatically adjust with the outdoor temperature. Surveillance cameras can be remotely monitored via the Internet. Your security lights may be linked to motion sensors so you don’t need to keep the lights turned on for the entire night.
One reason why people shy away from automation is the cost. “Automated systems use energy, so they produce energy savings only if they save more energy than they use. They are typically expensive, so take a significant time to ‘pay back’ the savings from reduced energy costs,” according to the Australian Government website. You will likely shell out serious money for an automated office, but consider it as an investment. You’re investing in the security of your business, profitability, and even on the environment.
As the world becomes smarter, criminals are also becoming more sophisticated. You have been hearing news about billions of customer information and millions of dollars being stolen from businesses remotely. The new threats can be overwhelming if you’re not properly equipped to combat them. Start with a complete alarm system in your physical office. Then, protect your internal networks with firewalls and anti-virus software. Consider automating your office for a more efficient security, low operational costs, and less carbon footprint.
As the Chinese philosopher, Confucius once taught: “The superior man, when resting in safety, does not forget that danger may come. When in a state of security he does not forget the possibility of ruin. When all is orderly, he does not forget that disorder may come. Thus his person is not endangered, and his States and all their clans are preserved.”
Read More :
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- How To Secure Your Business With The Adequate Safety And Security Procedures