Privacy and Cyber Attacks
With its vast interconnected network, the IoT promises considerable advances in technology and convenience. However, the immense stores of private data may be vulnerable to cyber attacks. Therefore, if your company collects and stores customer data—such as home address, billing information, date of birth, etc—you should safeguard it against the potential threat of a data breach. And the threat is real—90 per cent of large organisations and 74 per cent of SMEs suffered a cyber security breach last year, according to government research.
If your company were to suffer a cyber attack, stolen customer information and money are not the only ways in which your company could be damaged. Your company’s reputation and public image may be diminished or lost as well. Regardless of what shape a cyber-attack may take, it reflects poorly upon your company.