Losing Your Money to Cyber Crime

Losing Your Money to Cyber Crime

With the advancement in internet technology, comes a number of risks hot on the heels of the progress. This makes it important to be aware of the steps that you need to take to maintain robust security whenever you are online. Read on to see how you can secure yourself and avoid losing money to cyber crime whenever you are online.

Secure Your Devices

Keep in mind that online security starts with you, and the first step is to make sure that your devices are all well-secured against potential cyber crimes. Around the world, consumers lost an average of $358 and 21 hours per year while dealing with cyber crime. This is a lot of time and money and it shows just how much is at stake as far as cyber crime goes.

To avoid downtime and financial losses, take steps to make sure that your devices are safe from potential threats. One way of doing this is to make sure that you have anti-virus software installed and your firewalls are at the right level of security. Don’t forget to keep your software up to date at all times so that you don’t fall victim to an event that you could have avoided by simply taking advantage of security patches in the latest software.

Perform Regular Backups

It’s also important for you to perform regular backups of your data and other information. This can help you make a fast comeback in case you do fall victim to a scam or attack that targets your files and information. In this way, you can enjoy better security and will know that, come what may, you will probably not have to start from scratch. The fact that 60% of the small businesses that fall victim to a cyberattack go out of business in a mere six months should motivate you to do your best when it comes to securing your business data and information.

Train Your Staff

Having a well-trained team is an investment that any business owner should be willing to make. This is because if your staff are well aware of the risks and what to do if faced with them, they are more likely to maintain safety standards. Make sure that you have a thorough onboarding process for new hires and you also hold refreshers for existing workers who may need to be trained on both existing but high-risk dangers and newer scams that they may not have heard of before.

Know the Risks

Finally, it’s important for you to be informed about the different risks available in cyberspace. When you know the dangers that you and your business may face, you can take better steps to secure yourself. Either do constant research on the issue or hire a competent team that can help you stay safe from potential issues. This should not be an issue that you are willing to compromise because the risk involved is simply too high. When you learn about a new threat, don’t hesitate to look into the most effective ways to keep yourself secure from it.

The United States Department of Defence actually knows about this enough to talk about it in their memorandum on understanding Cybersecurity Maturity Model Certification. They state that CMMC is a priority for the department and it is going to safeguard the enterprise against losses from cyber theft. These losses cost the country $100 billion every single year and the world $600 billion, an amount that equates to 1% of the global GDP.

This outline should be at the top of your moneymatters101 list as it can help you stay safe from massive losses while allowing you to grow your business. Keep the guide in mind and you will have an easier time and less stress in your daily activities.

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