Point-of-Sales (POS) Systems used by Small to Medium Sized Retailers continue to be highly targeted by cybercriminals according to the latest Verizon’s DBIR. Big Brands may make the headlines but regardless of size of business, types of costs to remain in the game are the same and only scaled according to number of records compromised in a breach.
As stated in Mandiant’s 4th Annual M-Trends 2014 Report ‘Beyond the Breach’, advanced Cyberattacks go undetected for average 32 weeks. Consumer financial information ultimately is the goal of cyber-scams and it is by far the most costly for a business involving their creditors. Having a multilayered approach to data security combined with a Breach Preparedness and Business Continuity Plan can help a SMB significantly reduce costs in several ways from number of records breached or more importantly specific types of consumer data stolen. By using multilayered defenses like malware prevention in addition to detection you can protect your business from both risks.
Malware evolves quickly and today’s authors easily code malware that can by-pass traditional AV and firewalls. At Wontok, we take that into account and assume that malware has the potential to slip by even your best detection efforts, so we’ve devised an added layer of protection that keeps malware out of your sensitive transactions. We don’t mean that you shouldn’t keep all systems patched and up to date. But if malware slips in, Wontok
SafeCentral ensures it can’t access your most sensitive transactions by placing them in a safe containerized environment.
In a Ponemon’s report on ‘The Cost of Data Breaches on Business’ breaks notification costs down by determination of all regulatory requirements, CRM database creation, engagement of outside experts, postal expenditures as well as post breach costs such as identity protection services and administrative expenditures for help desk and communications. In addition, notifications legislation is not National but State by State so businesses must be up to date with current State notification laws.
Inarguably, most significant for any business breached where sensitive consumer financial data is stolen is loss of return business, reputational damage and consumer trust. Having both a data security system that reduces the risk of types of data breached as well as an effective system to swiftly investigate and communicate to customers that their most sensitive data is safe and they can put their trust into doing business with you in this time of global cyber-warfare is a must for cost reduction and customer loyalty.
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