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Technology

4 Cybersecurity Concerns Every Entrepreneur Should Know About

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In the 1990s, researchers observed that women tended to be slow in adapting to the digital age As a result, technology was mostly seen as a male-dominated area.

As the internet and mobile use rose, women in most countries were not left behind. Today, security and privacy are important and women are concerned about accessing secure online platforms where they can be safe from electronic snooping.

We are moving towards a cashless society, and more people, especially Millennials, prefer to do their banking online. Here are the 4 most common digital threats facing entrepreneurs worldwide.

1. Weak Passwords

When setting passwords, the worst thing you can do is make it easy to guess. It should be easy enough for you to remember without racking your brain, yet hard enough for any person to guess.

Do not set passwords with your children’s or pet names, or your year of birth. Using the same password for several sites is a recipe for a successful hack. Use two-factor authentication that requires the user to use a password and a special code sent to a different device that only you have access to.

This way, a hacker would have to obtain the device with the second passcode. Biometric authentications such as the retina or fingerprint scans are effective techniques to use beside a password. Your password should consist of upper and lower case, numbers, and special characters.

2. Ransomware

Ransomware attacks are very common and they increase every day. Ransomware is like a kidnapping case. The attackers ‘kidnap’ your data and hold it for ransom. If you have poor security, you are likely to get attacked. Hackers target smaller businesses for their poor security and that they are far more likely to pay ransomware than bigger companies are.

This may run down your business, and you are doomed if you pay the ransom (assuming you can afford it) ad doomed if you do not. You cannot be 100% sure that the hackers will release your data when you pay, and you will have lost your reputation, and probably get sued for the data breach.

3. Phishing

In terms of popularity with hackers, phishing is on the same level as ransomware. A hacker can inject malware and viruses into your network using phishing emails. These emails contain a link that once clicked; the hackers can access your network and steal all data such as user IDs and passwords for your accounts. Downloading a VPN (Virtual Private Network) creates a private and secure tunnel between your device and the internet. It encrypts all data with 256-bit encryption, used by the American government and security agencies globally to send classified data.

4. App Fraud

In-app stores, there are millions of apps, and some are not as secure as you would expect them to be, and when installed, they access your data. Cybercriminals create fake apps, which breach your network via mobile devices connected to the network.

If you have employees, most of them in this mobile banking era connect their phones and tablets to the company network. Just a single fake app on one device could attack the entire network.

Conclusion

When managing your business, you must not neglect the importance of cybersecurity. The weakest link to any attack is always the human factor, and clicking on email links is just one of the ways we welcome hackers into our networks. Cybersecurity is a full-time job since hackers never sleep and are always waiting to pounce on unsuspecting networks.

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