The advancement of technology has brought us, as well as solutions that facilitate our routine, several threats that can cause damage to business. Daily, organizations are prone to blows and attacks that bring numerous damage to their image and reputation with the market. An example of this is the leak of information that, in addition to harming customers and partners, damages the institutional image of a business . For this reason, risk management should be a priority.
Companies must adopt a contingency plan that helps deal with this type of event. A risk management plan is no longer an option to become a priority for companies of all sizes and segments.
Even the simplest incident can be reflected in the results of a business and directly impact its growth. Even contamination by a malicious virus or software has the potential to turn into a true crisis, and the company must prepare to deal with this type of situation.
Any business that leads with technology to maintain your activities needs to have information security as a primordial feature. The number of cybercriminals increases every day, so it is important to know how risk management can help your business and ensure that your reputation remains intact.
There are numerous types of cyber attacks that can hurt a business. Depending on the purpose of Cyber criminal, this attack can be turned to:
- Information theft;
- Confidential data leakage;
- Contamination of the devices used by the company;
- Data kidnapping;
- Interruption of activities;
- And much more.
Security violations have a huge impact on the image and costs for the business, as it will be necessary to bear possible requests for redemption, maintenance of devices , among other measures to repair the damage caused.
Famous data leakage cases
In recent years, cyber attacks have gained a lot of visibility, mainly because of the impact caused by these actions. Here are some companies that suffered this type of attack and had their image quite shaken in the market:
In June 2012, the LinkedIn social network suffered a data leakage in 2012, which resulted in data exposure from over 117 million users. Cybercriminals leaked personal data, emails and passwords.
Facebook and Cambridge Analytica
Cambridge Analytica obtained data from 50 million Facebook users, using this information to illegally perform numerous behavioral tests for the campaign of former US President Donald Trump.
HERE
In 2018 C&A suffered a huge leakage of customer data, having 2 million customer data released.
Amazon
In 2021, Amazon was fined € 746 million by the National Luxembourg Data Protection Commission for data protection failures.
The impact of lack of internet security
Failing to invest in information security becomes much more expensive than allocating resources for this type of protection. This is because the consequences caused by cyber attacks end up making the company need to fund the necessary measures to resume its activity . Unfortunately, most companies only understand the importance of risk management when it goes through such a situation.
Due to the immense demand for rapid and efficient information exchange, business has been adopting technologies that enable this data to manage. These tools are constant cybercriminous targets that seek ways to divert information and generate profits by kidnapping this data.
Preventive information security solutions help maintain a business compliance and ensure that the company does not suffer from the impacts caused by cyber attacks. Here are the main problems faced due to the lack of efficient risk management:
Information theft
Data theft is among the main problems caused when investing in information security. In addition to making this data inaccessible for the business, cybercriminals may also require payment of a redemption to ensure that the company resumes this information.
This type of cyber coup, in addition to causing substantial financial losses to the business, can also cause immense damage to the company's reputation. This is because your image will be harmed by your competition and your consumers.
Lack of confidentiality of information
Investing in measures that help increase data protection is an indispensable step so that companies can adapt the general data protection law . This legislation brought us the rules on the need to protect confidential and sensitive data from customers, partners and employees.
Failures in this process, in addition to impacting the company's image, can also generate punishments by the LGPD supervision . These punishments can range from warnings and suspension of activity to exorbitant pecuniary fines. Anyway, this punishment will hurt the company and its growth.
Interruption of activities
One of the punitive measures established by the General Data Protection Law is the interruption of business activities. In addition, kidnapping or blocking a company's data may make it unable to stay active until the solution is found .
Cybercriminals, through a blow known as ransomware , perform the kidnapping or blocking of data, requiring the victim company to archa with the payment of a rescue amount. Companies of all sizes have already suffered from this type of scam, and in many cases it was necessary to bear this extortion to resume this information that was kidnapped.
Loss of contracts
Breaking confidence caused by information security problems can make the company stop doing business in the market. Once your reputation has been damaged by this safety failure, it is very difficult to circumvent the problem and resume your position on the competition.
The loss of contracts will make your business grow and end up regressing your competitive position. Investing in risk management will help the company deal with these problems more intelligently and avoid damage caused by cyber threats .
Leakage of information
Like other security problems, information leakage can also negatively impact business image towards its customers and consumers. If we look at the situation from the point of view of a possible customer, we can understand how a company that has suffered some security failure may not be the best option to do business.
Our personal data is extremely valuable, and it is necessary to have great confidence in exchanging this type of information with companies.
Corporate spy
There are data that is stored by companies that are directly related to their strategy and commercial measures. Providing this type of information for general knowledge will bring numerous problems for the business.
Competitors can gain advantages in the market knowledge of their corporate strategy . For this reason, it is essential to rely on resources that help protect this information and prevent this type cyber threats from reaching your devices and networks.
How to implement efficient risk management
As we have seen, relying on the risk management protocol is essential to being able to deal with the main problems caused by cyber threats. Although many companies perform risk management informally, it is necessary to have a cluttered risk management built on a solid methodology.
It is important to remember that the risks to which companies are subject can start from both external and internal sources. This is because some behaviors and attitudes adopted by users can make information vulnerable to digital threats.
Taking this into consideration, we can understand that it is necessary for employees to understand the importance of adopting a preventive stance through these threats that surround the internet. To be able to establish efficient risk management, you need to follow some basic steps, as we will see below:
- Planning: At this stage, managers should determine how risk management should be done within the company. It is time to choose the methodology to be applied and what tools are available for this risk management.
- Identification: Based on a well -structured research, managers must determine what risks the company is subject , taking into account external and internal threats. This will allow the evaluation of all uncertainties and aspects that can have some impact on the business.
- Qualitative Analysis: Once determined what are the main risks that can affect the company, it is necessary to determine what the probability and impact they can have on the organization . With this, managers will be able to classify these risks according to their priority and possibility of damage.
- Quantitative Analysis: Following the same line of reasoning as qualitative analysis, it is necessary to transform into accurate and consistent data for investigation of the likelihood and impacts that can be caused.
- Answer Planning: At this stage managers should establish what strategies should be adopted in the face of a threat. This planning will help the company deal with problems wisely and efficiently if they occur.
- Monitoring: Once a risk management plan has been established, the company needs to be constantly monitored the adequacy of preventive measures and expected behaviors. This makes it easier to prevent problems from happening.
Use everything technology can offer
Technology brought us tools and resources aimed at greater convenience and efficiency in processes. It is important for the company to know how to use these features to your advantage to ensure superior and smarter performance. There are automation tools that can help in risk management, error reduction and process efficiency.
It is possible to rely on the help of technology to avoid both external and internal problems. An example of this is password management tools. Through them, managers can deal with some of the leading causes of digital vulnerability within business, such as creating easy -to -deduct passwords, leakage of passwords that have been noted, storing passwords in a safe way, among others.
Considering that many of the security gaps within the company can be caused by the inappropriate behavior of certain employees in the use of the internet, access control tool can be the output your company seeks. The internet is full of threats and traps that can cause serious security problems, and control of this tool can make all the difference in your business risk management.
Improper access during working hours can cause vulnerabilities that favor cybercriminals. Through these security gaps, these criminals can invade networks and corrupt systems, causing numerous damage.
Internet Access and Safety Control Tools
There are several solutions and tools for internet access control on the market. These features can help your business keep your employees away from problems and ensure that information is safer.
These optimized tools, focused on improving access management within your organization, such as Lumiun Box and Lumiun DNS , can be valuable allied in your risk management process. Counting on the correct tool , your company will be able to manage the access made during working hours and prevent employees from exposing their information due to cyber scams.
As familiar as this employee has digital tools, there is a great possibility that, unsuspectingly, he will end up favoring the action of these criminals and exposes the confidential information stored by your company.
Contact us and find out the best tool to ensure more efficient risk management within your business. The lack of internet security is an aspect that should be a priority within your business, in order to avoid the main problems it can cause for your business.
Until later!
