You’ve been hacked. Three words you never want to hear.
Human error. In our experience, the majority of banks and credit unions think of cyber security as an inside-out proposition. You have standard measures in place like firewalls, anti-virus protection on bank computers, fraud detection systems and website encryption.
But the reality is that the risks of online banking often have less to do with your technology than with the human beings who use it.
Introducing CyberSmart for Business
The numbers are staggering. Research conducted by the National Cyber Security Alliance found that more than 70 percent of attacks target small businesses, and almost 50 percent of small businesses have experienced a cyber attack. With the average cost to a small business upwards of $150K, it can easily be lethal, as 60 percent of hacked small businesses go out of business after six months.
Avoid Human Error.
Small business customers are in the crosshairs of cybercriminals. Human error is involved in more than 90% of security breaches, according to a study by IBM and the Ponemon Institute. These criminals know that most small businesses do not have the resources to provide their employees with effective cyber education.
Cut Down on Security Threats.
According to Accenture, only 14% of small businesses are prepared to defend themselves. To reduce these security threats, business owners and their employees need to learn how to avoid phishing and other types of email fraud, ransomware, malicious software, insecure passwords, insecure mobile devices, and more.
Enhance Your Security.
The threat to the banks and credit unions is also a large concern. The financial footings of small businesses that are hacked are weakened making loan repayments more difficult. Also, cybercriminals use small business customers of banks and credit unions as a gateway to attack the bank and credit union themselves.