Security threats in the work place are no longer limited to those in the physical world. Thanks to great strides in technology, the sharing and retrieval of information and data is seconds away, often with the stroke of a key or a click of a mouse. However, this convenience comes with added responsibility in preserving privacy and security on an entirely different level. Because of potential breaches in systems put in place for storing and sharing sensitive information, it is important to consider how cyber risk services might be a practical investment in today’s workplace.
Types of Data That Can Be Compromised
It can be quite eye-opening to think about the data stored about a company, its employees and its clients. For example, when considering an average retail business, consider the type of information that can be accessed remotely:
- Credit card information
- Personal Information of clients and employees
- Social Security numbers
- Company data
How a Breach Hurts Business
With a growing reliance on computers, one can imagine how unresolved cyber risks can threaten a business’s livelihood if not covered by cyber risk services. The costs involved in restoring and reinforcing a faulty system, coping with a drop in client confidence and employee morale and possibly even litigation over who may be liable for the incident can add up without the proper safeguards in place.