Businesses have always protected themselves from theft, fraud and crime using surveillance technologies and more. As they have evolved and innovated to provide better services, criminals have also upgraded their tactics. To keep up with digital technology advancements, business must understand what they are up against. By understanding the risks to your business, you can avoid significant data breaches or financial losses.
Businesses Affected By Cybercrime
While these threats may be alarming, it is important to protect your business in any industry. For example, cybercrime is now the second most common type of economic crime in the financial services industry. Both large and small businesses are affected by this trend and should not be ignored. To learn more, a professional indemnity insurance broker Aon has put together this infographic highlighting how businesses of all sizes are affected by cybercrime.
Other Cybercrime Warnings
In addition to all of the cybercrime happening in business, there is much discussion about cybercrime affecting government institutions in the wake of the 2016 election hacking scandal. The FBI, the lead cyber attack investigation agency, cautions citizens, and business owners especially, that the threat of cyber crime is growing, and it is very serious. Ransomware, in particular, is one type of cyber crime that can be especially catastrophic for business and government, alike. If you are concerned for your business, or a future incorporation venture, the FBI Cyber Action Team may be able to help. This organization can help you find the hacker’s signature tools, techniques and procedures, or TTPs. Remember the name of the Cyber Action Team if you believe that your business is at risk of falling victim to internet crime.
The rising cyber crime statistics have led to the development of an all new kind of business insurance called cyber crime insurance. These new policies help to protect your business from potential liability related to a hacking, data breach or similar. However, they are only offered by a few insurance companies, as they are so new to the market. These cyber crime insurance policies are also not comprehensive, of course. But, this is certainly something to keep in mind if you are looking for tips to bulk up your cyber crime prevention tactics.