When businesses send their customers' private and confidential data through unsecure channels, they are placing both themselves, and their customers, at risk of cyberattacks. The sad thing is, businesses are well aware of this issue, and they are still doing it.
This is according to new research by cybercrime solutions provider StayPrivate. And it is not just large enterprises. Small and medium-sized businesses do it just the same, but there is this trend among businesses where everyone seems to believe hackers will only target large organisations. This could not be further from the truth. StayPrivate says businesses of all sizes are partially to blame: they don't have "sufficient processes, procedures and solutions in place” to handle this problem.
“In the past few years we have seen too many examples of how corporate reputations can be left in tatters if a firm is attacked by cybercriminals and our research shows that British SMEs are simply not doing enough to address the cyber threats posed to them and their customers,” said Rob Reid, founder and COO of StayPrivate. Research claims email is where the majority of these problems happen. It is either that confidential data is being sent over email, or it’s being used personally, or their accounts got breached.
“The business community needs to understand that email is not like traditional mail where a physical letter will only end up in the hands of the intended recipient, however with email once the message has been copied and sent, it has gone for good and becomes fair game to cybercriminals.
It doesn’t take much for a cybercriminal to capitalise on the unsecure communication behaviour of SMEs, leading to either the business or their customers suffering from considerable financial loss. These risks can be easily mitigated by having the right policies and solutions in place.”
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