At present, there are several digital channels and online transactions have increased globally due to which security threats have also increased in the last 10 to 15 years.
Security threats in developing digital channels such as bank frauds, identity theft, fake identity, phishing, malware, and Denial of Services (DoS) have also crept in which can interrupt work, steal information and reduce productivity of the companies and industries. They also harm the reputation of the companies which is responsible in protecting the customer’s data.
That is why Entrepreneurs are interested in investing in the security to protect the interests of the company and their customers.
The main reasons to invest in the security are given below –
- Tackling Hacker’s Attacks – The main aim of the company is to train employees to face possible threats in their fields of work. The employees are the part of company so their training to tackle hacker’s attacks is essential. Technical workers of the company must be aware of social engineering techniques. The hackers can influence the employees in getting confidential information such as passwords or bank information, or remote access to the computer for secretly installing malicious software.
- Protecting Sensitive Information – The companies collect information of their vendors, employees and customers. If an unauthorized person accesses these information from the database of the company then chances of stealing information of employees, vendors and customers will increase harming the name of the company. The unauthorized person can misuse the information obtained from the database of the company. Thus companies invest in security for protecting the information from the company.
- Creating Strong Customer Base – The customers trust in the company to protect their important and personal data which have been given to the company must be achieved. According to 2017 Unisys Security Index (global), it was found that due to increase in the cyber attack there are chances that the important information can be given to the terrorists group which may increase the threat to the country.. Thus the customers or clients want the agreement with the organizations to protect their information and transactions from unauthorized persons or any terrorists groups.
Conclusion – Now days, security is fast becoming main concern for businesses worldwide as they lose several billion dollars each year due to hacking. Security is also a serious requirement for new companies. As per popular quote in past, ‘prevention is better than cure’ is suitable for cyber security and should be our first line of protection against cyber attacks.