Businesses of all sizes dedicate considerable resources every year to develop, secure and defend their computer network. Software companies constantly introduce new firewalls and other anti-virus programs to fight off illegal breaches. Despite best efforts, network hacking continues making headlines and compromising sensitive information.

Giving In To Hackers’ Demands

In what has become a widely publicized case of hacking, that seems to feature the release of new details on what feels like a weekly basis, ride-sharing giant Uber acknowledged that it paid hackers $100,000 to delete the data they stole in 2016. The personal information of nearly 57 million Uber drivers and riders was accessed illegally by two, yet-to-be-identified electronic thieves.

Even when you take proactive steps to protect your company’s network and stored data, there are individuals constantly looking for opportunities to expose and exploit any weaknesses. Hacking is a major issue facing companies and, if the news is any indication, electronic thieves and computer hackers are showing no signs of reducing their illegal and damaging activities.

Companies are Being Hit by Hackers

There have been a number of high-profile hacking incidents that made the news over the past few years that impacted major retailers and financial institutions, as well as their customers and clients. The latest company to fall victim was the ride-sharing business, Uber.

The term “hacking” conjures images of illegal activities by highly-motivated cyber criminals looking to steal and exploit vast amounts of business and personal information. However, as the internet changes and laws evolve to keep pace with the rapid growth of cyber activity, the federal government has begun considering ways by which companies might use hacking to their advantage.

Hacking to Combat Hacking

Until recently, a business’s only defense against a cyber attack or hacking might be the installation of updated firewalls or software to combat electronic intrusions. However, it seemed that as soon as new defensive software was created, hackers were finding and exploiting inherent weaknesses or developing techniques to subvert network protection.

When the digital age took hold in America, and an increasing number of businesses began conducting trade online, it became necessary to protect commerce, transactions, and other online activity from illegal access and fraud. The Computer Fraud and Abuse Act (CFAA) is a federal anti-hacking law that was passed in 1986, and is now the subject of updates in order to keep up with the constantly evolving digital world.

Why the CFAA Needs Updating

In its current form, the CFAA does not allow a business to go beyond its own network to fight or protect against cyber attacks, such as the installation of malware. While the CFAA was expanded upon in 1996, proponents of this newest legislation do not believe the existing language goes far enough in allowing businesses to protect their digital property.

Due in large part to the hacking of websites and subsequent theft of the personal information belonging to millions of consumers, company and website privacy policies are facing renewed scrutiny. When storing huge amounts of data and concern for personal privacy both demand attention, it is critical for companies to establish clear guidelines for gathering and retaining information at the onset.

Protecting Privacy While Doing Business

Privacy is a cherished right, yet it is one most web users surrender every time they visit a website. As businesses strive to know more about their target audience and build stores of information as a way to grow their customer base, the use of technology to gather information is more prevalent than ever. However, building trust between a business and a customer (or potential customer) is an important part of doing business, and that is where strong privacy policies come into play.

When credit reporting giant Equifax announced that millions of consumer records were exposed to hackers by means of a data breach, it was just the latest in the series of recent commercial cyber attacks which have impacted millions of people. Perhaps the primary takeaway from this news is that if this type of breach can happen to a company as large as Equifax, it can happen to any company that maintains digital business and client records.

How Can a Business Protect Company and Client Data?

By most accounts, the breach at Equifax was due to complacency in addressing a software flaw in the company’s website involving a tool which consumers used to contact the company and address issues with their credit reports. Every company should be aware that hackers will seek to expose any flaw in your company’s software or website protocol.

Businesses of all sizes are being targeted by hackers and other electronic criminals more and more frequently in modern times. Incidents involving large corporate entities such as Target and Equifax make national headlines, but it is a fact that even small businesses are attacked by hackers. In fact, experts agree that nearly 43 percent of all cyber attacks are launched at small businesses. 

Protecting Your Business

Being unprepared is no longer acceptable, as the cost of repairing your business’s reputation and defending your company from subsequent legal action can drain resources and even result in bankruptcy. Because physical storage of records and data is costly and can require an inordinate amount of space that could be better used for other business purposes, storage of customer information and proprietary company data is frequently converted to some electronic format. This action makes that data vulnerable to breach and theft. Here are some basics steps to follow when considering how to best protect your company’s cyber assets:

No longer is it necessary for one to key-in a password of letters and numbers in order to gain access to computers, smartphones, or other electronically-secured information. The use of one’s facial features, fingerprints, and even their iris for electronic security purposes is becoming more common, yet concerns pertaining to personal privacy and use of stored information is now facing legal challenges.

Wide Use for Biometric Technology  

The use of biometric technology has allowed various businesses to enhance service and security for their customers. Some examples include:

Recently, the Internal Revenue Service issued a warning that electronic scammers were using official-looking emails to illegally obtain information and hold it for ransom. Despite frequent cyber security warnings that the IRS does not solicit information by means of email, businesses have reported falling victim to this and other forms of phishing activity.

Phishing Exhibitions with Official-Looking Bait

Hackers, online scammers, and other electronic thieves have elevated their efforts in order to obtain personal, confidential, or otherwise critical data as a way to make money. A few of the latest attempts include very official looking emails:

The use of computers by companies doing business in a variety of industries started years ago, and continues to grow. However, with that growth came the need to to use valuable office space for servers and data storage equipment. Now companies are migrating digital information to virtual storage known as “the Cloud,” which frees up physical space, but comes with some risks.

Benefits of Cloud Usage

It stands to reason that Cloud storage usage would not be popular among companies if it did not offer valuable benefits. In addition to reducing or eliminating the need for on-site data storage, other advantages of Cloud usage include the following:

More and more companies recognize the value of using the Internet to grow and strengthen their business. Whether for communications, marketing, e-commerce, research, or other purposes, online activity among employees and customers has expanded exponentially. However, with this growth comes the increased threat to information moving along or stored by electronic means. 

Business Activity Has Moved Beyond Laptop and Desktop Computers

Hand-held devices have taken on an increased presence among business operations throughout a variety of industries. From tracking inventory to recording important statistics and other real-time data, the threat to the information stored on these devices is no less real. This may complicate matters for cyber professionals charged with protecting intellectual property. 

Often times, to the untrained eye, the Internet seems like a vast maze of information, images, advertisements, and videos. With the constant flow of data, it is sometimes difficult to differentiate the authentic from the imitation. It is just that confusion and uncertainty which emboldens unscrupulous types to appropriate the intellectual property of others and use it for one's own purposes.

Laws protecting intellectual property encourage creation, development, and innovation of ideas; however, when your company does business online nearly everything about it is accessible to anyone with an Internet connection.

Does Theft or Misuse of Intellectual Property Really Occur?

Just as one’s company name and logo are vigorously protected against misuse and infringement, a business must remain equally vigilant to ensure its online identity is not stolen. Speedy resolution of Internet domain disputes allows a business to continue its e-commerce efforts while cracking down on those who might try to benefit from unscrupulous or even illegal use of a company’s domain.

Obtain a Strong Domain Name

Perhaps the best way to avoid domain disputes altogether would be to obtain, properly register, and monitor with vigilance your domain and online presence. This was considered much easier when the Internet hosted only generic top-level domains such as .com and country codes, but with the introduction of .net, .org, .info, and other domain names, monitoring domain names requires a renewed effort. Here are some steps for finding and establishing a strong domain name: