FIVE ESSENTIAL TIPS FOR SMALL BUSINESS DATA SECURITY – BY GUY CHIARELLO (Huffington Post)
Given the increasing frequency and sophistication of cyber attacks in today’s world, it is more important than ever for small businesses to understand the costly effects of a data breach and develop an approach to mitigate the risks. The cost of a data breach for a small merchant can be catastrophic. The lost business and resulting liability from such an event can create significant financial losses, but the damaged reputation could be even more difficult, if not impossible, to recover from at all.
A recent study from Ponemon Institute shows that 90 percent of data breaches impact small merchants. Given that payment data is the target for 65 percent of breaches, small business owners should be concerned by the potential vulnerability of sensitive payment data used to process transactions every day, in multiple ways — in person, online and even via mobile device.
Small businesses can protect their customers and themselves, even though there is no guarantee of complete immunity to the threat. By staying educated and understanding solutions and best practices that are available, small businesses can reduce the risk of a data breach with cost-effective options.
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