Security Threats in Businesses

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Security Threats in Businesses

Introduction

The business environment is becoming a fast paced globalized economy that depends on information and data carried via open channels. As a business organization, it is critical to maintain and protect both physical and virtual property that is being owned against intruders, potential theft and other acts that could cause loss of any form. Dominos, for example, one of the biggest pizza delivery company faced a massive data breach where customer information was made public, hence resulting in loss of sales and customers. In today’s global, digital world, data rules. Safeguarding intellectual property, financial information, and a company’s reputation is a crucial part of business strategy. With the number of threats and the sophistication of attacks increasing, safeguarding becomes a formidable task.Businesses, both small and big are under massive attacks by external agents in order to get credit card information and other confidential data which can be have a negative impact on the growth of the business. However, this security threats are not limited to attacks from the outside, but also from within the firm (BusinessSecurity, 2013).

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A recent survey shows that 80% of security breaches are caused by insiders- most often employees, more than 20% of attacks on the corporate WEB sites come from the inside, almost 30% of companies, experience more than 5 attacks from the inside every year. However, it has also been argued that having too much security may affect business processes. According to Cowan (2012), while there are various security solutions to help protect businesses from potential reputational or financial damage, a heavy investment in business security solutions may have a counter-productive impact on the business. It can affect the corporate culture, flow of information and operational processes, leading to inefficiencies and productivity loss (Cowan, 2012). On the other hand, being too permissive can have the same result, with employees able to access, share, lose or damage sensitive data too easily (Cowan, 2012).