Top 10 Cyber Risks Facing Your Business

Within the past several years, technological advances have swept the business industry. The dramatic increase of technology used daily has drastically increased the importance of cybersecurity measures to protect private data. Lately, there has been an increase in hackers trying to obtain some of this valuable data. This has left many businesses trying to find the most secure applications to keep their data safe from these hacking accounts. Of course, this is often difficult to do as hackers have multiple different ways of getting inside access to a business. This is inconvenient, but it just means that businesses have to stay on top of their cybersecurity methods to keep these hackers out. One of the most popular ways for businesses to keep their data safe is by enhancing their protection by using security services offered by companies like Castle (https://castle.io/product/identity-aware-bot-detection/). Castle offers bot detection services that help businesses to find suspicious accounts that aren’t acting similarly to real customers. This then allows the business to block that bot, preventing a potential cyber attack. Unfortunately, this is how it is for online businesses nowadays. They have to pay a lot of attention to cybersecurity, ensuring they keep all of their confidential data safe from people who shouldn’t be accessing it.

The following list outlines some of the greatest threats in cybersecurity for a business, so make sure your company is aware of these issues to ensure you have protected yourself against them. The most common cybersecurity issues are:

1. direct monetary threat
2. cyber extortion & ransomware
3. exposure of client information
4. damage to reputation and client trust
5. fines & settlements
6. business continuity loss
7. damage to competitive position
8. legal liability and defense cost
9. loss of data integrity
10. potential business closure