Risks in Our Digital Information Economy

Defending digital assets against cyber crime

Anyone with access to a computer, tablet or smart phone can buy goods online, pay electronically and request information from corporate networks. Business websites that don’t have proper management and security systems in place provide entryways to the valuable information they have amassed.

 The data companies spend years gathering is a valuable business asset – and even a small gap in security can pose a huge risk. Cyber criminals waste no time figuring out new ways of exploiting weaknesses in the technologies that businesses spend billions of dollars on to stay ahead in the e-commerce world.

 E-criminals

 Tech-savvy criminals recognize the value of digital information and look for ways to steal it. They commit their crimes by exploiting security hiccups in corporate systems or by using malicious code to infiltrate computer networks. Smart phone and wireless technologies are being utilized by wider numbers of people, presenting increasingly tempting targets. What were once attacks on operating systems are now attacks on apps, database software, and even antivirus programs. Their motivation is simple: go where the money is. The confidential information these business amass provide a nearly infinite source of illicit profits for e-criminals.

Malware

One tactic e-criminals take is to leave behind bits of code called Trojan horses that track the keystrokes of the user to steal passwords, social security numbers, credit card numbers and other confidential information. Criminals are also able to control the systems of huge groups of personal computers by infecting them with malware. They cover their tracks by using thousands of personal computers to launch such attacks. Once discovered and shut down, they simply move on to another group of computers.

These threats are major concerns for both businesses and consumers. Companies that depend on the Internet for their livelihood can be devastated by attacks that shut down their web sites. Companies depending on seasonal sales can’t afford a malfunction or shutdown at the wrong time, as evidenced in the Target hack during the 2013 Christmas season. Such security breaches can result in huge financial losses in damage repair and lost business from gun-shy from consumers and clients.

 What businesses can do

A Technology Insurance policy costs almost nothing in comparison to the financial devastation from which it will protect your business.Seven out of 10 small businesses that experience a major data breach fail within one year. Don’t let that happen to you.

Call us at 800-622-7370 so we can help you assess your level of risk. In just minutes you’ll learn how our affordable Cyber Risk Insurance can protect your business from e-criminals and loss of property.

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Categories: Breach Of Security, Crime, Cyber Liability, Tech Insurance

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