Business and Threats Essay
Business and Threats Essay

Business and Threats Essay

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  • Pages: 3 (563 words)
  • Published: December 23, 2021
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Security in Businesses: Protecting Against Cybercrime

Modern businesses heavily rely on technology to enhance productivity and cut costs. However, the widespread use of technology also puts them at risk of cybercrime. Malicious hackers can exploit vulnerabilities in a company's systems to steal sensitive data, including competitive strategies.

Cybercriminals can tarnish the reputation of a company by gaining access to links connecting the company with its clients. They have the ability to manipulate, steal, or modify corporate data and files. When developing a continuity plan for a company, specific steps must be taken into consideration, as well as certain aspects to be checked. In today's business world, the internet is unavoidable. Clear strategies should be implemented and communicated to all stakeholders. It is important to thoroughly screen applicants to prevent internal security breaches.

Providing business ethics training is crucial for


a company. It is important to refrain from disclosing client information, particularly transaction-related details. Storing data in an external storage system is necessary, and regular protection of data is vital to prevent loss during attacks. The business should be able to easily add users while ensuring security coverage in protocols or procedures. Identifying and addressing various aspects of the business are essential.

They consist of the company's standardization to ensure data safety, auditing to verify business rules among employees and assets that may pose a threat to the business. It is also important to consider implementing a backup system for the company.

Threats Associated with Using Credit Cards for Online Business

Using credit cards for online business transactions poses several risks including identity theft or impersonation, phishing, and pharming. Identity theft occurs when an imposter gains access to an individual's credit car

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When individuals have complete access, they can withdraw money or request goods and services just like actual credit card owners. Credit cards are susceptible to phishing, where cybercriminals use deceptive links that appear similar to those of legitimate businesses. Clients are deceived into sending money or making requests on fraudulent websites, allowing the cybercriminals to collect funds meant for a specific company. In pharming, imposters manipulate and direct clients to fake websites.

The company can convince clients by providing information about changes to the website and improved delivery through a link, or by mentioning a merger with another renowned company. Cybercrimes such as identity theft, pharming, and phishing have detrimental effects on a company, leading to financial loss and a decline in loyal clients. The company also becomes vulnerable to competitors and may lose market share based on the severity of the cybercrime.

Without taking any immediate action, a business is likely to shut down.

Ensuring Security in Businesses

There are several important methods for minimizing threats in a business. These include regularly assessing the hosting web service, internet provider, web design, and software used by the company. It is crucial to constantly enhance the e-commerce website to make it harder to manipulate. Additionally, security threats such as viruses should be promptly addressed.

Companies must implement digital certificates to enable encryption of all personal data received from clients. It is crucial that employees do not have easy access to any credit card information of customers. Additional caution should be exercised when delivering large orders or dealing with easily resold goods.

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