5 reasons why your business can’t afford to be a victim of cyberattack

Cyber attacks are increasingly becoming common. Online criminal gangs are devising sophisticated of attacking all types of businesses, from small establishments to multinationals; no one is safe. Statistics indicate that, small businesses are especially more vulnerable to these attacks than large corporations mainly because they tend to lack sufficient resources to effectively cushion themselves. Just because attacks to well established companies such as Uber attract a lot of media attention doesn’t necessarily mean that the others are safe.

There are many types of cyber-attacks whose effects can be devastating and must be prevented at all costs. Discussed herein are five reasons why your business can’t afford to be a victim of cyber-attack and why it is important that the Jacksonville-based Scarlett Group provides Disaster Recovery.

1. Data Theft or Loss
A large number of cyber-attacks are after crucial data. We live in a world where information is power. Businesses, in their efforts to remain relevant will stop at nothing to steal information about their competitors. Information about customers, marketing strategies, pricing, profits, technological advancement for better productivity, employees, name it. Companies are hungry for data to have an edge in the market. Through a cyber attack, anyone can steal your company’s data and sell it off to your rivals or simply destroy the electronic data that you might have stored in the company’s computers, leaving you with nothing to work with.

2. Lost Business Opportunities
Cyber security has made it possible for organizations to safeguard their data, but there can always be a loophole somewhere. If an attack damages a number of computers in your company, you will have to purchase or hire new machines to remain operational as the attack is neutralized or the computers are being repaired. During downtime as a result of such an attack, you are automatically losing money. The longer it takes to bounce back, the more the losses you risk incurring.

3. Possible Lawsuits
Cyber-attacks can result in possible lawsuits. Considering the confidentiality of the information stored in the company’s computers, it is possible that the affected parties can decide to sue you. The attacks can decide to leak confidential business dealings with your customers or partners to the public. The resulting damage can be enormous and you risk being sued for damages due to breach of contract or infringement on privacy. Any information related to any business has value to someone else out there, it must be protected.

4. Extortion
Another very important reason why your business can’t afford to be a victim of cyber-attack is because, such an event will open windows for extortion. It might not really be about the theft of data, but damage of sensitive data by some psychopath somewhere who later demands large sums of money to enable you access the files. They do this mostly through malware and phishing; it can happen to anybody.

5. Battered Reputation
The success of any business is pegged on the reputation it builds. No one will want to be associated with a company that cannot protect its data; it will be like sharing a secret with a known rumor-monger. You have invested heavily into your business and attracted some of the best customers. You have build a brand for yourself and the bank accounts are loaded…you are happy. Imagine, after all those years of sacrifice, a preventable cyber-attacks makes you lose all that you have toiled for.

Final Thoughts
The internet is an important resource that can build or break any business or individual. Every business, professional or personality is at risk of these attacks. The best thing to do is to invest in the latest cyber-security solution that are difficult for anyone to penetrate. Remember, an attack can originate from within the organization (possibly a disgruntled employee) or from external sources. Protecting your business from cyber attacks is guarding its future; don’t take chances.