Guest Post: Could your company be cybercrime’s next victim?
Cyber Criminals seek out unsuspecting organizations—use these tips to help avoid becoming one of them.
Six Trillion Dollars is an unfathomable amount of money—and yet, according to CSOnline, it’s the total predicted cost of cybercrime in 2021. As technology grows, so do cybercrime tactics. Despite this increasing threat, most people don’t realize that the information they hold could make them an active target. Because cyber criminals typically work behind the scenes, their moves are easy to miss…but it’s time to shine a light on their behavior—and help protect our businesses from it.
We’ve all read about government agencies, power grids, corporations and other major entities falling victim to hacking and ransomware attacks. (Most recently, some of us were impacted by cybercrime’s ability to prevent us from having enough gasoline until a ransom had been paid).
It’s likely that cybercrime isn’t a new concept for you—and hopefully your company has increased security measures to help protect against hacking and phishing attacks. But, it’s also likely that you:
Have had your credit card or personal data stolen
Know someone who has fallen victim to a cybercriminal
Have read about a business being impacted by cybercrime and worried that you may have been personally affected
NortonLifeLock revealed that over the last year, nearly 330 million people across 10 countries fell victim to cybercrime and over 55 million people were victims of identity theft. So, how can you better protect your business from becoming just another one of the growing number of victims?
1 – Watch for red flags, including:
Communications that express a sense of urgency and ask you to take action quickly
Links from outside sources
Misspelled website and email addresses
Content that says you’ve won a prize or contest of some sort
Content that appears to be from your bank, the IRS or other governmental agency
2 – Use these best practices:
Avoid clicking on links whenever possible until you have verified that the link is not associated with cybercrime
Call to verify the validity of emails from outside sources
Consider using passphrases rather than passwords (they are longer and more complex)
Select your security questions carefully—if you decide to use your favorite band, for example, make sure that you don’t post about that same favorite band online regularly
Research and obtain insurance cyber coverage
Most business have the ability to purchase cyber coverage, which may help protect them from many of the risks associated with cybercrime. In addition, many homeowners insurance carriers offer identity theft coverage to help offset costs associated with restoring your identity after it has been stolen. Many insurance carriers for high net-worth individuals also offer coverage for additional exposures like cyber extortion and cyber bullying.
As cybercrime tactics continue to emerge, many businesses are seen as targets. It’s more critical than ever to educate yourself and get proactive. Together, we can help reduce the success of lurking cybercriminals.
The material in this article is provided solely for general information and educational purposes, and should not be construed as legal or expert advice on any subject matter. The Glatfelter Agency specifically disclaims any and all liability for any act or omission by any person in connection with the use or implementation of any information in this article, including third party content. The Glatfelter Agency does not make any representation or warranty, expressed or implied, with respect to the results obtained by the use, adherence or implementation of any material contained herein and makes no representation, warranty, or guarantee as to the accuracy, completeness, timeliness or reliability of any third party content. Any reference to third party services, processes, products, or other information does not constitute or imply any endorsement, sponsorship or recommendation by The Glatfelter Agency, unless expressly stated otherwise.
Contributed by Nick Sarver, Account Executive, The Glatfelter Agency (TGA).
Nick Sarver is an Account Executive at The Glatfelter Agency (TGA), a full-service retail division of Glatfelter Insurance Group, offering commercial and personal insurance products, benefits packages and risk management solutions. A leader in the York, PA community for 60 years, TGA is also one of the largest retail insurance operations, serving more than 6,300 clients. TGA values entrepreneurial spirit, personal development, long-term relationships and community involvement.
