What Can A Hacking Attack Cost Your Company?

With the internet controlling more of our lives, we are starting to become more vulnerable to the attacks that can happen over the network. From our personal lives to our business lives, everyday there is a new cyber attack that threatens to harm us.

Black hat hackers these days are starting to become more sophisticated in their attacks. In the past they would release an attack that would strike random targets. They would either try to fool victims to take an action that would give away information that they should not be giving out or they would release a technical attack that would get the information from the computer without the user’s help. Now the black hat hackers that are out there are starting to realize that there might be more money for them if they start to specialize in their attacks. This means that they will go after a particular target and try to loot from them.

Attacks like these can be very dangerous to your company and they are something that you need to watch out for. In this article I will talk about attacks directed specifically at your company, the money that they can cost you and what you can do to stop them.


How They Will Target Your Company

You might think that the black hat hackers that are out there will only take the time to go after huge multinational companies. That may have been the case in the past but no longer. Smaller companies have more than enough money to satisfy an attack and they also have less security concerns that the black hat hacker would have to worry about.

In the past, most companies knew very little about the cyber world. Even the IT people that they would hire only had a limited knowledge on how to protect the systems that they were running. In the past couple of years these same companies were forced to make sure that they had everything secured. Black hat hackers were starting to steal financial information from their customers and that would make them look bad so they spent the money to make sure that they had all of the security that they needed on their systems.

Smaller companies do not have this same luxury. They have a very limited budget and they must make do with solutions that are off the rack. These are systems that black hat hackers will have studied to try the find the holes in them.

Once the hackers are able to get into a system they will usually take a quiet approach. There are other approaches that might be taken but the one that is used most often these days is a stealth attack. They will slip a program in the network that will record everything that is going on. Once the program is filled up with useful data, it will then send that data back to a server. The person who is running that server can now do whatever they want to it. In most cases, they will take that data and sell it to someone else. It is these people that they sell it to who will cause the most harm to your company.

What Can An Attack Like This Cost You?

When most people think about the cost of such attacks they think about the monetary effect that the attack will have. They know that they, and possibly their customers, can lose money but there is something more at stake that they have to worry about. The thing they have to worry about is the trust that they will lose from these same customers.

When you have a customer base there is a two way trust system that happens. You trust them to pay for the services that are rendered and they trust you to provide the service and to keep the information that you give them safe. If the company cannot provide the safety that the customer expects to have then they will have no reason to do business with them anymore.

For example, just imagine that you used your credit card at a certain restaurant and the card number was then used for some nefarious purpose two weeks later. You would not visit that restaurant anymore, no matter if the problem is directly with the restaurant or not. This is the same case for any other business as well. If your company is a known target for hackers then your customers will move their business somewhere safe.

What Can Your Business Do To Stop Them?

The only thing that you can do is to make sure that you spend a good amount of money when it comes to security. Make sure that your employees are well trained in basic security techniques and that the person that you have running your IT system is well trained.

If you follow these steps then there is a good chance that you will be able to keep your company from becoming a victim.

About Lee Munson

Lee's non-technical background allows him to write about internet security in a clear way that is understandable to both IT professionals and people just like you who need simple answers to your security questions.

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