The transition to online operations has become a top priority for many industries due to the pandemic, and the same is expected for next year. As such, businesses like yours need to ensure that there are preventive measures against cyber threats – an enduring hindrance to consumer and business welfare. Additionally, Bournemouth University’s IT Services finds that cybercrime damages in 2021 are expected to cost up to six trillion dollars.
This article will discuss the three industries that need to pay attention to their cybersecurity protocols to neutralise threats and protect their business assets. Take this information into consideration as a means to effectively regulate your business’s activity and your customers’ welfare.
1. Retail
The retail industry continues to find ways to adapt to the so-called New Normal and transfer business operations online. These developments provide customers with convenient access to timely essentials, and they let employees work comfortably from their homes. However, threat data shows the increased online activity is being taken advantage of by hackers through phishing and POS (point-of-sale) malware.
For example, let’s say you handle a retail business that offers handbags and jewelry for women. You can expect many customers to start buying during the holiday season since many consumers also want to take advantage of Black Friday and other pre-holiday offers. However, your business can be held back by hackers who use POS malware to scam your customers.
As such, retail companies should invest in cyber threat intelligence tools to monitor daily operations and prevent online attacks on customers and employees. These companies must be mindful of data breaches and possible fraud that can affect their online reputation and payment collection. There may also be new updates on POS malware that can make transactions fraudulent and inconvenient.
2. Information and Communications Technology (ICT)
You can expect more companies to rely on ICT firms to provide timely access to IT infrastructures and software for their operational use and scalability. There may not be any cyber-attacks at the ICT’s base of operations because there are well-constructed firewalls and online surveillance systems that can protect their assets. However, much of the issue lies on their clientele’s side, as the growing demand for tech may affect their cyber threat mitigation.
The ICT industry should take active steps to bolster its current anti-malware protocols by partnering with cybercrime experts. Their partnership can fill in the cyber intelligence gaps, meaning ICT companies can expand their client base and sustain their reputable business. It can also provide the industry with new opportunities to explore other new technological means to expand professional development.
3. Finance
The finance industry is sure to prioritise digital streams for all monetary assets because there are growing concerns about on-hand cash being a vehicle of the COVID-19 virus. This concern is also why many consumers are reluctant to withdraw from their bank accounts, prioritising online banking. These are lucrative reasons for hackers to find vulnerable entry points within the Internet to retrieve client information and misuse stolen data to get easy access to cash.
As preventive measures, financial institutions should start working with cyber intelligence providers to safeguard their clientele’s welfare and protect all assets. Doing so can also keep the economic activity going, benefiting stakeholders and investors. That way, there are significant strides to sustain financial security and recovery among affected communities.
Your company’s cybersecurity should always be a top priority no matter what industry you come from as the world continues to anticipate the ‘new normal’. Consider all the previously mentioned industries and prioritise foresight to sustain your reputable business.
Are you looking for top-of-the-line, affordable cyber threat intelligence service? We at FraudWatch International can provide you with that. We are the leading online brand for cyber intelligence, equipped to offer you the best surveillance and security software to protect your company. Consult with us to keep your business’s digital assets safe.