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5 Consequences of an Information Security Breach

data-breach

For a business, providing the most fool-proof security system available to your network isn’t always feasible. Information security systems are often incredibly expensive, and difficult to set up and maintain. However, not spending the extra time and money to have the security that you need is a huge risk.

Having your information hacked into can literally put you out of business. Some of the biggest and most detrimental consequences to having your business’ information hacked include:

Ruined Reputation

Once you put something on the web, you can bet that it will forever live on – no matter how hard you try to erase it. If you send something through email that you would rather not have the public know, it could easily be made public if your account is hacked. If you keep private documents online, they could easily be made public if your computer is hacked.

Vandalism

Vandalism is the planting of false information and is a tactic that major hacking groups like to use. By planting false information, your company’s reputation could be ruined in a matter of minutes if customers or others find poor information brazenly placed on your site.

Theft

If hackers are able to get into your website or network, you can guarantee they will be able to access your bank account information. A prime example would be the Citibank security breach which occurred over the summer.  Following the same principle, this is exactly the reason why you should never leave your home networking system open and unsecured. Following the same thought process, you should never leave your business network unsecure either — this could lead to potentially disastrous situations such as classified documents being leaked, trade secrets being revealed, etc.

Revenue Lost

If a hacker gets into your site and crashes it or causes an extended period of downtime, your operations will cease and you will lose revenue. The longer your site stays down the more you will lose as well, as you will begin to look unreliable and potentially lose credibility.

Damaged Intellectual Property

While stealing your identity and money can be incredibly bad, stealing your intellectual property can be just as damaging to a business. If a hacker gets in and steals ideas, plans, or blueprints, you could miss out on being able to fully implement new products or designs – which could keep your business from expanding.

When it comes to your business’ security, don’t skimp. You will definitely get what you pay for, and it will be a business expense you won’t regret spending. Hackers are always going to keep pushing the envelope to access data that they have no business getting, but by keeping your security systems as up-to-date as possible you will have a greater chance at longevity and success without being hacked.  I would also recommend you read the article on how to stay secure online which provides additional tips and advice that applies to both personal and business environments.