Without a doubt, Black Friday and its younger sibling, Cyber Monday, are two of the biggest shopping events of the year. Businesses slash prices and offer mega deals in an effort to excite consumers across the U.S. to purchase their products and services – and it has proven successful. However, with all of the excitement of making sells and turning profit, companies often forget the bigger risks to their customers – cyber crime.
The potential for data hacks and theft are very real. Not providing a secure system for your customers can have devastating consequences and could potentially harm your business. If you’re planning on offering “big savings” on Black Friday and Cyber Monday, here are some reasons why you should beef up your network security.
3 reasons to strengthen your network security during the holidays
1. Data theft
Whether you own a brick-and-mortar store or sell your items online, it’s crucial debit and credit card data is secured when collected. Do you remember Target’s holiday data breach that cost them $18.5 million dollars to settle claims? Hackers were able to gain access to customer data by accessing their gateway server through stolen third-party credentials. Since the hack, Target has been forced to adopt stricter security measures when collecting customer information.
Hackers live for the holidays. They know customers will be out and about shopping and spending without much thought to security – and their hoping businesses will do the same. Prepare in advance. Check your network for any vulnerabilities and take the right measures to enhance your systems to ensure your information, and your customers’, is properly protected.
Spoofing is a situation in which a person or program successfully masquerades as another by falsifying data to gain an illegitimate advantage. On Black Friday in 2017, hackers took down supermarket sale websites, even though they weren’t attempting to obtain data from customers.
To properly protect your business from online spoofing, it’s essential to work with an experienced IT security specialist who can properly monitor your network and determine if there are any inconsistencies or vulnerabilities hackers may take advantage of during the holidays.
3. Ransomware and malware
Ransomware and malware have made big names for themselves over the years and as hackers become more sophisticated, it’s crucial businesses take it more seriously. Big name brands are no longer the sole target of cyber criminals. In fact, according to the Verizon Data Breach Investigations report, small business now make up approximately 58% of cyber attack victims.
Malicious software such as these can have lasting effects on businesses and could potentially bankrupt them. That’s why it’s important to constantly be vigilant, especially during the season where there is an uptick in sales and usage. Make sure you contact a business security company who specializes in network security to monitor and update your system and ensure your business is taking the proper security measures to prevent infection from other sources, such as email attachments.
Be vigilant in protecting your business
The security of your business is important, not only to you but to your customers. A lack of vigilance on your part could not only result in your customer data being compromised but could also result in the severely damaging your company financially.
If you’re planning a sales extravaganza this holiday season, don’t wait until you’ve been compromised to secure your network. Contact an experienced commercial security systems company to assess your vulnerabilities and provide a security plan that works for you.