In the aftermath of yet more damaging revelations about systems being hacked and e-mails and private customer information falling into the wrong hands, are companies doing enough to protect confidential customer information? In public at least, companies would appear to be spending billions of dollars on airtight computer systems but in reality nothing is ever 100% secure, either online or off-line. Hacking is becoming a major problem for online companies and there are suspicions that only a fraction of the security issues occurring are ever made public.
Is your information safe?
Private and confidential information has been stolen on a regular basis right across the online arena. We have governments, regulators, leading companies and even hospitals under attack from the hackers. The main problem is that so many people now feel comfortable acquiring products online that they are happy to hand over their confidential bank details. While much of this information is often encrypted, making it more difficult for the hackers to obtain meaningful data, not all companies are at the same level of security.
Spamming
There is nobody with an Internet connection who will not have come across numerous spam e-mails purporting to be from legitimate companies. We’ve all seen the ones where you are promised $1 million to help somebody with a banking issue, which are very easy to discount, but what about e-mails from the taxman or your favourite online companies?
There is no doubt that the hackers are becoming ever more professional in the way in which the use stolen e-mail addresses and private and confidential information. The “dark web” is a marketplace where these types of lists are bought and sold with individual account details often exchanging hands for less than one pound. The simple fact is that if you receive an e-mail you did not expect from a financial institution/company with which you do business, be very cautious.
Do not click on any links in the e-mail, do not reply to the e-mail and if you are uncertain as to its legitimacy call the company in question to query the e-mail. A note of caution here, do not take any contact details in a potential spam e-mail as legitimate. Many people have rung these numbers only to be charged hundreds of pounds in connection fees!
Public exposure
There are two sides to this coin when considering public exposure of hacking incidents and the loss of private and confidential information. On one hand it can decimate a brand reputation while on the other it can give more credence to the hacking fraternity. There is no doubt that where private and confidential information, including bank details, has been stolen that customers should be informed as soon as possible. Companies are also obliged to inform law enforcement agencies although some are a little reluctant to get the police involved if this can be avoided.
The growing threat of hacking
While it would be wrong to suggest that online companies have not invested heavily in online security it is difficult to argue that more could not be done. Very often an investment in online security is seen as “irrelevant” at least until the hackers appear. The damage negative publicity can do to a brand image is littered across the historic world of e-commerce. Companies have literally gone under because of online security issues and an inability to guarantee a certain level of security for customer’s private and confidential information. So, while investors continue to scour the stock market to find the best investments, surely an investment in the “Google” of the online security world would be the gift that keeps on giving? However, finding that elusive investment is where the skill in research comes in!