How important is cyber security? What advantage can it provide your client? Is your client ready to handle a cyber attack that may happen anytime soon? With all the technological changes, cyber attacks in the business world have become more dangerous.
Most small business owners and large corporations are concerned about their clients’ privacy and security on the internet. Unfortunately, most of them still take the security issue lightly. The reality is that both small businesses and large corporations are at risk of being hacked.
Continue reading to learn more about cyber security and its importance to every business.
What is Cyber Security?
It’s a term used to describe the protection of information and networks from cyberattacks. It has become a significant concern for many people, businesses, and governments because of the increasing number of cyberattacks.
Several different types of cyberattacks can be executed on networks. A denial-of-service (DoS) attack is meant to stop people from being able to use a website or network. While a distributed denial-of-service attack (DDoS) tries to overwhelm the target with more traffic than it can handle. This is usually done by using multiple malware-infected systems or devices. Another type of attack is called phishing. It involves sending emails or messages with links to websites that ask users for personal information like passwords and credit card numbers.
Alternative Dispute Resolution Professionals and Online Security
Today’s arbitrators have far greater obligations of confidentiality than their predecessors did.
Time has changed! With so many people using email and so much data being stored electronically, sent electronically, and stored in the cloud, it’s clear that we need a new level of information security. Criminals, competitors, non-governmental organizations (NGOs) like WikiLeaks, and even governments, have shown how easy it is for them to get this information illegally. This has led to a re-evaluation of business processes, which is changing the way businesses, attorneys, governments, and others work.
Businesses now set aside a lot of money to protect their sensitive information, and they have come to expect their attorneys to be just as careful. Arbitrators must see themselves as having the same duty to protect the information given to them so they can help settle disputes. To be sure, arbitrators today must take their confidentiality responsibilities to a whole new level.
The Case of Equifax Data Breach
The Equifax data breach is the latest in many data breaches over the last few years. These data breaches are costing businesses and consumers billions of dollars every year. The Equifax breach is an excellent example of why companies need to take security seriously and take steps to prevent these breaches from happening in the future.
The Equifax data breach should be a wake-up call for companies worldwide. It should serve as an example of what can happen if you don’t take intellectual property protection seriously, which we’ve seen repeatedly occur with many different companies.
Repercussions of Ignoring Online Security
The consequences of neglecting cyber security can be severe. Even inexperienced hackers can try stolen credentials on other public websites if they have a reasonable expectation that some users will have reused the same credentials. Hackers with more experience can “guess” passwords with software tools and just an email address. If they manage to get in, they can do anything from changing your password to locking you out completely and stealing all of your private files, including medical and legal documents. Moreover, the targets of cyberattacks aren’t the only ones whose security is put at risk. A computer infected with malware can spread it to other machines. There is evidence that legal and financial services providers have been attacked solely for the purpose of attempting to gain access to a client database.
Now Is the Time to Prioritize Your Internet Security!
Even though there are many problems with ensuring data is correct in cyberspace, they can’t be ignored. A well-orchestrated cyber attack can penetrate any weak cyber security system. This vulnerability can reveal private information about the mediator, their clients, coworkers, and anyone else they’re connected to online. Confidentiality is one of the most important significant principles in mediation. Suppose we want to stay true to that value. In that case, mediators must consider and use as many online security protections as possible.