With more and more companies undergoing digital transformation and moving their business operations online, cybercrime has become more present than ever. Avoid Internet Scams follow the Guest Posting as we provides you most updated technology news. It always seems to find a way to adapt itself to exploit businesses and individuals better and steal their hard-earned money. They don’t care who their victim is and how big their business is, as long as they can make some profit out of it. The question is no longer will you become a victim of a cyberattack, but when. This is why businesses need to shift their priorities and move cybersecurity from the sidelines. The only way they can deal with today’s cybercrime challenges is to develop a proper fraud detection strategy and prevent the attacks before they can cause any damage. For many businesses, falling victim to a cyber attack will mean the end of the line, which is why prevention is the key with Today’s Challenges.
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What are the most common attacks businesses need to deal with?
While the cybercriminals constantly update their attacks so they can exploit more victims, there are several fraud categories that are most dominant in the business world:
- Data Breach
- Phishing attack
- Identity theft or account takeover
- CNP fraud
- Chargeback fraud
These types of fraud can cause significant damage regardless of the industry you work in or how big or small your business is.
How can you defend your business from growing cyber threats?
There are two most significant elements when protecting your business and its customers from the ever-growing threat of cyber attacks, and those are technology and people. They are vital in making a business successful, but they can also be its downfall.
According to the research about cyber breaches conducted among thousands of businesses in over 130 countries, human error contributed to 95% of all breaches. This percentage could be seriously reduced by realizing the importance of customers and employees in every business and implementing the proper steps.
Cyber awareness – If they are unaware of which dangers they face, how can we expect them to recognize them and prevent or react to them? By organizing regular cyber awareness training, you can educate your employees about the danger and empower them to protect themselves and your business.
Password hygiene – Poor password hygiene can be a contributing factor to various attacks such as identity theft or data breaches as it allows cybercriminals to access personal or business accounts easily. By introducing a password policy for your customer and employees, you reduce the risk of the attack.
Technology is constantly evolving, especially in cybersecurity. Implementing different cybersecurity strategies can protect your business and help you fight against evolving cybercrime threats.
Device fingerprinting – allows you to gather additional information about your users from their device and recognize fraudulent attempts.
Data enrichment – Uses a single data point such as email address, phone number, or user’s name to gather more information about them and to confirm they are who they say they are.
Remember, knowledge is power. By gathering more information about your users, you will be able to verify their identity and discover their intent.