Small Businesses and Start Ups Need Cyber Security

  • Security

According to a study conducted by the National Cybersecurity Alliance and Symantec, two-thirds of small/medium businesses (SMBs) do not consider cyber attacks as a threat. Many business owners believe that hackers and cyber thieves are only interested in larger corporations, as they have more desirable assets. As breach reports have shown, small to midsized companies account for a large number of victims of online fraud.Forty percent of 1 billion-plus cyber attacks prevented in Q1 of 2012, were aimed at businesses 500 employees and less. Even though small business owners may not feel they are at much risk, most cyber criminals target small companies for several different reasons. One reason that small businesses are so vulnerable is that fact that online thieves see them as low-hanging fruit. SMB owners do not seem themselves as being attractive enough for online fraud, and therefore do not invest in protecting themselves.

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In addition to lack of online security, small business may also think they cannot afford fraud prevention even if they do recognize it as an important asset. Identity verification and authentication serve at the forefront of fraud prevention that wont cost smaller companies an arm and a leg. By implementing verification and authentication, smaller companies can ensure that the person visiting their site is the true identity holder. As Eric Knapp, VP of Client Services, discussed in his last blog more start-ups and small business are going straight to an online business model as physical storefronts become less important. Having identity verification and authentication as a part of your fraud prevention solution will make your business safer and more successful. Protecting your consumers will help build trust in the business to consumer relationship that is vital for start-ups reputations. Being a victim to a break or hacking early on in a businesss life cycle and be very costly and difficult to recover from. Build report and protect your consumers by enforcing fraud prevention measures to help grow your business.

[Contributed by EVS Marketing]