September 27, 2018
Foregenix, a leading cyber security consultancy firm, has recently scanned 218,000 websites on Magenta, a leading cyber security firm. About 86% of those websites do not have the necessary security patches and 2% of them are compromised. The survey was mainly focused on SME company websites across the world.
Recent research identified a growing global trend for brute force attacks in the first half of the year. According to Benjamin Hosack, co-founder and chief commercial officer of Foregenix, cyber crime undermines confidence in e-commerce, particularly in US and UK where online sales are high. Heavy penalties on small traders by card providers put them at great risk. Websites become highly vulnerable to hacking when they don’t use software updates released by e-commerce platforms.
Online businesses need to understand that web developers and agencies only craft beautiful, transactional websites but lack the expertise to take care of their security issues. Companies and their clients need to be extra cautious as even a single security breach can spell doom for a small business. Simple precautions like changing default settings on the administration interface and strong passwords can reduce a company’s risk towards hackers. Companies should also consider a cyber insurance policy as risk can never be completely eliminated.
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