How hacking can damage your organization’s reputation
With cyber-criminals on the growth over time, as we move into 2016, it’s just getting more important to safeguard your company from the damage a hack can inflict. Not only could it severely damage your reputation, but it could also severely hurt your business in the long run.
Price of hacking
In 2015 it had been noted that antivirus software provider McAfee and world primary search engine, Google, revealed that hacking is becoming a severe problem. With an estimated 2,000 cyber-attacks taking place per day that the global economy is being hit by roughly #300 billion per year from the price of thus attacks.
For e-commerce businesses hacking is something that’s high on their agenda with such companies being prime targets for potential hackers.
Californian based technology firm ThreatMetrix stated that during the 2014 Christmas period 11.4 million fraudulent transactions were carried out. A 25% increase from the last quarter.
The rising hacking attacks have targeted many companies across the globe; JP Morgan Chase, eBay, Ashley Madison and Talk Talk to list a few, are some of the high profile companies which endured among many other.
2014 saw online merchant; eBay’s sit breached, with hackers getting access to their database containing passwords for more than 100 million users. This situation is a particularly good illustration of how a cyber-breach may have a severe impact on an online retailer.
The hackers could gain access to customer accounts which led to negative headlines and conversation, ultimately damaging their reputation.
While eBay did execute a crisis plan in the form of directing members to reset their passwords; this wasn’t put in place as quickly as it ideally should have been.
This further fuelled the negativity surrounding and proved as detrimental towards the picture e-commerce site.
It’s no real surprise to learn that not merely is cyber-crime a growing issue for big businesses but also small to medium sized companies are becoming increasingly worried, particularly those selling services and goods online.
More than two-thirds of businesses feel as though they don’t have sufficient protection from the growing problem of hacking.
The knock on effect can be unsalvageable because of the way in which the customer’s hope is damaged upon learning of the event.
If you run in an e-commerce website, then this may lead to consumers feeling unsafe when submitting payment and personal details, resulting in a loss of earnings.
Research conducted by general info and measurement firm, Nielsen demonstrated that 84% of consumer would anticipate product recommendations from colleagues, friends and loved ones.
From losing the trust of just one customer, a knock on effect could quickly take place, for instance, if their negative experience was shared amongst a broader community, family, and friends or current consumers.
Blacklisted by Google
It has come to light that hackers are now beginning to use progressively smart methods, for example, malware to breach online systems.
Malware is a complex, malicious application which allows hackers to access company information, with the ability to take charge of office computers and business’ website.
If your website is believed to be infected with malware, Google will automatically blacklist said website. This may result in almost any online assets that you have optimized to appear on the initial page of a Google search to be rendered.
Meaning social media profiles and websites will no more be viewed by your target customer and are therefore deemed useless.
To safeguard your online reputation, securing your business’s online assets from cyber-attacks is something that ought to be high on the agenda. To achieve this, we suggest you:
Secure your waiter:
The use of services which will allow you to scan your site for vulnerabilities such as malware will make sure you’re shielded from hackers. Another precaution comes from the form of routine PCI scans. Whether there are any issues that pirates may have the ability to exploit to breach your e-commerce site this scan will alert you to them.
Refrain from storing payment data:
Services like Braintree and PayPal are used by companies around the world to minimize the probability of reduction of consumer’s details. Customer’s payment data should not be kept on record, in the instance of your website being hacked, if this exposed information was to be obtained it could cause irreparable harm to the brand’s image.
Keep passwords protected:
As most of those cyber-crime scandals have revealed, once hacked, employees, customers and business passwords could be accessed with ease. An efficient means to guarantee all passwords are safe and secure is to utilize LastPass. All passwords are saved in a secure vault, providing you with the assurance that hackers may no longer access client data and passwords. Training covering protocols, policies, and protocols will minimize the likeliness of a breach caused by simple mistakes. To be able to keep your website secure, staff should be cautious concerning the regulations.
Secure your website
No matter what size, any company can become the victim of cyber-crime. It’s crucial that a plan protecting online assets from hackers is employed to protect your business’ online reputation.