The modern business landscape throws up so many pros and cons. From a positive perspective, it’s easier than ever to start a business. Nowadays, you can create an online company with very limited resources, then start making a lot of money. It’s all thanks to the growth in digital and internet technologies. 

However, this comes with a con. Thanks to this technology, it’s also easier for your business to be put at risk. We’ve discussed cybersecurity in a previous post, which you can check out here if you’re interested. That article spoke more about the need and importance of good cybersecurity measures, but this post will focus on the specific threats to your company. Here are three security concerns you need to be wary of:

Fraud

Clearly, fraud has been around since before the birth of online businesses. However, it’s far simpler to carry out fraud on the internet. Somebody may get ahold of another person’s credit card details, which almost gives them free rein to run rampant. Your business has a duty to try and spot and stop any fraud at the first signs of it. This can be done using investigative data analysis, which you can learn more about if you have some spare time. The general aim is that you analyze and identify any fraudulent patterns, so you can clamp down on them before they get out of control – potentially saving a customer loads of money. 

Data Theft

This is far too common in the digital age, and you’ve got to look at ways of preventing it. As the name suggests, data theft is when people steal data from inside your business network. This can be your data, customer data – anything. Needless to say, this is potentially catastrophic for your company. Money can be lost, private ideas can be shared online, and customers can be put at risk. Thankfully, as you can see here, there are plenty of ways you can protect data in your business and keep any cybercriminals at bay. 

DDoS Attack

DDoS stands for distributed denial of service. It’s a term you may have seen thrown around before, but what does it mean? Effectively, it’s when hackers flood your site and take down your server. They deny you the ability to continue offering your service because your website is basically offline. You can find more info on these attacks here, and they can be very damaging. In some cases, a DDoS is used to weaken your cybersecurity before moving in and stealing data. Other times, it’s done just for fun, to disrupt your business and make you lose out on potential sales. Then, you have hackers who take down your servers and demand payment. If they get paid, they will call off the attack and its business as usual. No matter how you look at it, this is a significant security concern!

So, while running an online business certainly has many advantages, it also presents some cybersecurity risks. Your company needs to know these threats, so you can work on preventing them from causing problems right now and in the future. 

By Erica Buteau

Change Agent. Daydream Believer. Maker. Creative. Likes love, peace and Jeeping. Dislikes winter, paper cuts and war. She/Her/Hers.

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