Securing Your Online Business

by Emily on November 8, 2016

in Articles

it_security_network_cable_lockThe news is filled with stories of hackers infiltrating companies and stealing sensitive pieces of data. In many cases, this data is the personal info of the customers of those companies. The hackers will then sell this data to other criminals or use it to create fake identities for the purpose of committing fraud. This is a very real problem that all online business owners need to take steps to prevent. Otherwise, they could become the victim of a massive data breach that could end up crippling their business. Here are some of the reasons why you need to make the security of your online business your top priority.

1. Customer confidence will be negatively impacted if a data breach occurs. 

A customer places a large amount of trust in you when he or she provides you with a piece of sensitive data like a credit card number or a social security number. They are assuming that you have the resources to protect their data and prevent it from falling into the hands of criminals. However, companies have come up short in this department far too often. A data breach could be such a serious thing for your online business that it could cause your company to collapse. News of the breach will begin to spread and nobody will trust you enough to give you their personal info. This lack of customer confidence will eventually impact the bottom line of your business. Therefore, you need to make sure your site has the best security available so you can avoid being put in this position.

2. Customers could potentially sue you if their personal info is stolen while it is in your possession.

This is another major concern that you need to keep in mind as you begin to store the data given to you by your customers. A data breach can have several very harsh consequences for you. Your business might not be the only casualty of such an incident. There is a very good possibility that some of your former customers will take you to court. They might sue you for failing to adequately protect their personal data. This type of lawsuit could drag on for months and leave you in financial ruin. This is why you need to make sure you have the latest SSL certificates as part of your online security.

3. Properly securing your online business will protect your company secrets.

You might have certain secrets about your products that you do not want any of your competitors to know. If this is the case, you must make sure that your online security measures are good enough to protect these secrets. They could potentially be worth a great deal of money if your business becomes a success. Identity thieves are not the only people who might try to hack your online business. Corporate espionage is a very common thing. Companies try to steal the secrets of their competitors. Make sure this does not happen to you.

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