March 24, 2014
I read this story today on Adweek and the article sums it all up in the paragraph below.
When it comes to data security, most companies are doing nothing, meaning absolutely nothing. Omega ATC has been urging retailers to take some steps, at least the initial steps recommended to secure their data — such as monitoring, two-factor authentication, basic rule for password use, applying critical patches, updates and installing anti-virus. Just ongoing proper management of systems in the network in itself can take care of the basics rules of data security.
Unfortunately, as the article says, “Security is almost always trailing the actual vulnerability.” Old technology, lack of following internal policies, lax in physical security can make businesses easy targets. We have arrived at a point of it’s not a matter of if, but when businesses are going to get breached.
One of the worst things for a business’s reputation to decline rapidly is not to report a breach at all. For Level 1 and Level 2 merchants this is a crucial message to keep in mind. Not reporting first and for another 3rd party to bring out the story to the public can wipe out trust in a brand. Customers are always left thinking why they would go back to shop at the same place, and wondering what else could be going on that they may not be aware of.
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