The Digital Age means an increase in cybercrimes for businesses of all sizes. Data security insurance has never been more necessary for protecting the financial assets of small businesses. Here are three common crimes that affect data security.
Criminals use these malicious software programs to access data. They then encrypt the data and hold it hostage. The business must pay a ransom to have their data returned to them. Failure to pay may end up with bigger problems as the ransomware continues to work through the network or destroys data.
As seen on www.caitlin-morgan.com/, malicious viruses are another way criminals can wreak havoc on a business. These viruses may download onto a single computer or device connected to the larger network. They then travel through the network causing untold damage to the business’ network infrastructure.
An employee may inadvertently be a victim of a phishing attack. These emails look legitimate until opened by an unsuspecting person. The fake links including in the emails end up stealing confidential information. They may start with the person and then move onto company information.
In addition to developing a risk management strategy to address these risks, companies should have a comprehensive data security insurance policy in place. No business is immune to a cyber attack. Insurance can help protect your business.