BusinessHub

The terms cyber security and cyber breach have become quite the common business "lingo" these days. It’s hard to browse the internet without reading a story about another company or retail establishment being hacked with millions of customer data points compromised. And, no matter if you’re a small business, big box retailer, Marriott or even a Manufacturer—you’re not safe.

In the age of information, today's most valuable currency is customer data. Over the years, especially in recent years as cyber breaches have increased in frequency, the public demands that businesses take preserving customer information very seriously. Most companies understand the significance of asking for and storing their customers' data and do their best to safeguard this valuable asset. However, with hackers adapting and finding ways around security features, ransomware continues to be an ongoing problem for businesses and organizations.

If you were one of the estimated 16 million people that watched the anticipated Game of Thrones (GOT) episode on Sunday, July 31, or any of the other most recent episodes, you might have heard buzz about the HBO cyber attack. The Huffington Post reported that hackers obtained 1.5 terabytes of data from the HBO network and leaked the script to the August 5 GOT episode, plus files and proprietary information from other top-rated HBO shows. In laymen’s terms, 1.5 terabytes is equivalent to 32 months of continuous music play, downloading 225,000 full-length movies, or 768 years of photos. Now, that’s a lot of data!

In today’s world, it's difficult to get through the day without interaction of a cell phone, computer, or other electronic devices connected to the internet. Technology, today, is simply all around us in everything we do, from work to our leisure time. We use technology to perform our jobs every day, leaving us vulnerable to cyber attacks whenever we get online. Cyber criminals have become the world’s most dangerous criminals simply because they can act covertly and from anywhere in the world. Regardless the size of your business you are not immune to cyber attacks. The potential impact to one’s business, for some, could make it nearly impossible to recover from a cyber attack. Having just one breach incident occur can mean the difference from running your business one day to closing shop the next.

Everyone knows that fraud, in all its forms, is expensive. According to the Association of Certified Fraud Examiners, the typical organization loses 5% of its revenue any given year to fraud. Assuming you don't want to hand over 5% of your company's revenue to fraudsters each year, here are some tips to tighten your electronic controls and prevent cyber attacks, which affect the majority of companies on a daily or weekly basis.

According to the Small Business Administration, there are almost 28 million small businesses in the United States. Small businesses are the backbone of our economy, and since the 1970s, they have provided 66% of all new net jobs. However, because small businesses don't typically have the technology and human capital resources of larger corporations, it makes them more vulnerable to fraud and cyber attacks. Hackers have gotten more and more sophisticated with their tactics, making it increasingly difficult for businesses to defend themselves, and each year there are nearly one million new computer threats released each day. Every October, we celebrate Cyber Security Awareness Month to shed light on this issue and offer tips and advice to prevent cyber breaches and malicious online attacks.

If done right, real estate investing can be a great source of secondary income and even become your primary source of income. Starting on the right foot and understanding the process is imperative and can save you time and money in the long run.  If you are currently a real estate investor or thinking about becoming one, here are five essential tips that every real estate investor should know-no matter where you are in the game.