Nowadays, companies are always working to build up their reputation in the eyes of customers and other businesses. However, all of that hard work can be eliminated with a costly Cybersecurity incident. Your company will have to take care of all those potentially affected as well as worrying about a tarnished reputation to scare off future business. Take the recent example of Pizza Hut. Just on October 14th, they announced a “temporary security intrusion” that potentially affected 60,000 transactions from October 1st to October 2nd. Some consumers have complained about the delay in warning of the breach and some are even reporting their credit cards have been used fraudulently.
Possibly the biggest story in cybersecurity right now is the ongoing Equifax scandal. Starting back in March, the hack accessed dozens of sensitive databases and had 30 plus separate entry points into Equifax’s systems. The company didn’t detect the breach internally until July 29th. Three other executives, including the chief financial officer, have drawn scrutiny for selling $1.8 million of company stock just days after the breach was discovered. The sales were nearly six weeks before it was announced to the public. The trouble didn’t end there because websites set up to help affected customers offered free credit monitoring, but there were problems with this. The site initially required them to agree to not bring lawsuits against Equifax, and the site itself was easily spoofed to fool customers. Now, they will continue to profit even as Americans turn away from using Equifax because alternative services like Lifelock still pay to get their data from Equifax.
Another big story in the world of cybersecurity this past week was the “KRACK” attack. That is short for Key ReInstallation Attacks which affects WPA2 Wi-Fi networks. Basically, a hacker would be able to interfere with the secure connection a device creates when it joins a network. This would allow them to potentially infect you with ransomware or access data you thought was secure like passwords, credit card info, emails, and other data. Microsoft has already released a patch, and Apple and Google are sure to follow shortly.
There have been other big stories in the world of cybersecurity recently. There are reports of a new ransomware called DoubleLocker for Android phones that can encrypt your phone’s data and change your PIN to a random combination to lock you out. This is distributed through a fake Adobe Flash install getting permissions on your phone. Currently, a factory reset is the only way to remove the ransomware from your phone. Another big story is the Kaspersky anti-virus program that was supposedly used by Russian hackers to scan computers across the world for classified US documents. Already, the Department of Homeland Security has ordered Kaspersky pulled from employee computers and retailers like Best Buy, Office Max, and Office Depot have pulled the product from shelves.
Business owners need to stay aware and up to date on cybersecurity trends in order to secure their business and their data. You put your hard-earned reputation on the line by not keeping your business up to date and secure from hackers, breaches, and attacks.
Get help securing your business and find a local technology provider at TechStak.com.
About the Author, Sean Walsh
Sean is a Digital Marketing and Brand Communication Intern at TechStak. He has over four years of experience running and growing corporate social media platforms. Sean is a lifelong lover of the latest technology and gadgets. He attends the University of Michigan-Dearborn and will soon graduate with a Bachelor of Business Administration focused in Marketing.