As hackers look to expose any information that could be used for criminal purposes, businesses have to respond accordingly
When internet banking first became a useful tool for consumers and businesses, the widespread adoption of using online servers to make monetary transfers resulted in security issues that saw hackers looking to steal funds from the accounts of unsuspecting victims.
With the protection of people’s finances key to banks who aim to instil confidence in their customers – as well as to the continuity of companies who carry out significant transactions on a regular basis – systems were developed that enhanced the efficiency of security measures designed to prevent criminals from cracking in and enjoying an easy payday.
Yet as thieves have been increasingly shut out of online banking servers, it appears they are finding new ways to take advantage of other details that they are able to steal via alternative methods, and one expert believes that businesses need to adapt to this in order to prevent the exposure of sensitive data.
"The latest attacks have tried to scrape various types of data from a system for different benefits. One of the benefits might be stealing intellectual property, another benefit might be getting customer data that has credit card numbers," said the founder of Silver Tail Systems, Laura Mather.
As such, effective data protection strategies are needed to prevent customers’ details falling into the hands of criminals, and this can include everything from secure electronic document storage to educating staff of the need for efficiency when handling people’s details.
Indeed, IT security consultant Kevin Wharram believes that ensuring workers are fully aware of the need to consider security measures is a great way to safeguard against potential data breaches that could result in companies being fined or having their reputation damaged as a result of any lapses.
"The key to effective IT security education is [to] have an ongoing commitment. Education should be visual and it should apply to users outside of the office," he said.