Wednesday, February 21, 2024

Different Reasons why most of the Companies are Moving towards Cyber Security

For a business to become successful, the management ought to concentrate on the sales, the talents of the employees and the growth in general. However, most of the big companies rarely concentrate on the tech-savvy of the companies.

This is because most of the cyber-crimes are targeted to the smaller businesses. In the end, the smaller companies may fail to manage their security as they imitate the larger businesses only to fall victims of the criminals.

The main reason for targeting smaller companies is due to the fact that SMBs are caught up giving out small payoffs thus making them vulnerable.

However, this is a risky behavior by most leaders and it would take a whole company down. It is the high time that managers embrace the idea of securing their businesses and data from external crimes. If you are still wondering why you need to secure your business, here are a few reasons why you need to consider focusing on cyber security.

Failure to have a good insurance can put you out of business

For small businesses, owners are known to hate extra expenses. In fact, they cut off anything that seems less necessary. Truth is, investing in cyber security could be the smartest move for any SMB executive.

For any cyber and security insurances, they cover some of the most important damages. These include fines or penalties given to a company, loss after an attack, costs of notifications, and monitoring of money. These are liabilities that could get waivered by insurance. No matter how much money it’s worth, never doubt its importance in a business.

Mobile devices risk the threat of attack

Many people are so serious in securing their offices and the computers. However, do you ever stop and think about the security of mobile phones owned by your employees? External attackers are aware that offices are well secured.

They therefore turn to mobile phones to extract important data about the company. Some people have the habit of accessing the office via the mobile phone at the comfort of their homes. Attackers can use this chance to breach the mobile security and get access to the business. In addition to this, mobile phones get stolen, lost or even mishandled.

The best way to handle this situation is by educating your employees about cyber security, using fingerprint identification, banning the use of automatically remembering passwords in a page, and staying away from free Wi-Fi. These Wi-Fi’s lack enough security. Additionally, ensure that your phone has an antivirus application.

Investing in a cyber-security is cheaper than losing your business.

When a cyber-crime happens, the business is forced to pay fines to the courts and the investors in general. An investigation is always launched to find out what went wrong. In the end, a business will lose all their esteemed customers.

This will lead to an extra cost of acquiring new customers and rebuilding the brand. However, this is only possible to a big company. For small businesses, they might go out of business in just a few months due to lack of money to cater for that. Securing your business would have cost way less than these expenses.

An attack on a business is a threat to the employees and customers too

Personal information gets breached once an attack occurs. This includes the personal home addresses, credit information, and phone numbers. Such information could cause personal attacks on the people and their data thus compromising their security.

Cyber criminals are more agile than businesses

A cyber-criminal is a well-trained genius who has security details at hand. Before a company’s IT realizes their security is being breached, the criminal will have bypassed all the necessary valves to get what they want. This means that stopping them could be hectic and impossible in most instances. A business’s option should be moving towards cyber security for safety.


There has been enough data breach in the business world. An example is the Equifax that drained a lot of businesses. If these attacks are not enough to convince businesses on the need to get cyber security, they should get ready for a rude attack.

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BALAJI is an Ex-Security Researcher (Threat Research Labs) at Comodo Cybersecurity. Editor-in-Chief & Co-Founder - Cyber Security News & GBHackers On Security.

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