It seems like almost every day there is another cyber attack making headlines on social media platforms, different websites, and the media. Companies around the globe have not only lost large sums of money to these cyber criminals but data too. Individuals who have fallen victim to cybercrime have lost money, sensitive files and folders, and even their identity. 

Cybercriminals have been around since the early days of the internet, but since the outbreak of Covid-19, there has been a major increase in cybercriminal activity being reported. This is terrible news, especially for those who have been affected. With more people working from remote locations than ever before, hackers are finding it a lot easier to access their target’s computers and other devices that they use to connect to a network. The main priority for a business is to make money, but very few businesses can generate cash without data. Businesses and individuals have to secure confidential data in this modern society we live in.

Employing cybersecurity services will help protect your networks, programs, systems, and data from cyber-attacks. But even with the best cybersecurity systems in place, people are advised to remain vigilant. A lot of cybercriminals enjoy a challenge, so don’t leave your guard down. 

What do Cybercriminals do with Data they take from individuals?

Cyber attackers do a lot of different things with your data after stealing from you. Here are a few examples:

• Siphon funds from your bank accounts: Unauthorized people who gain access to your device will be on the lookout for passwords, credit card numbers, and other bank details in the hope they can access your account. When they gain access their goal is to take as much money from your account as possible. This has left many people in financial difficulty. 

• Identity theft: They will also be looking for your private information so they can steal your identity. Hackers can do a lot if they know your home address, details on your passport, or other forms of identification. If your identity has been stolen, it might take years to get it back. This can cause the victim financial difficulty and a lot of stress. They can use this information to take out loans, book flights, and sign up for new credit cards. 

• Hold you to ransom: If a cybercriminal found incriminating images, videos, or other data stored on your device, they will often look to hold you to ransom. They are known to ask their victim for a sum of money, and once this is paid they will hand over the stolen data. However, once the ransom is paid, there is no guarantee that the victim will get their data back. Plus, the criminal might keep the data instead of deleting it and hold their victim to ransom again in the future. 

In the United States alone, a recent report suggested that there is a cyber attack every 39 seconds, and many believe this figure will increase in the near future. To make sure you are safe online, use a quilty VPN service, use strong unique passwords for each of your online and banking accounts, and run a well-known highly secure anti-virus package. Keeping up to date with cybersecurity is key to staying safe while connected to a network, so make sure you keep an eye out for new cybersecurity services and familiarize yourself with the different practices. 

What are Cyber Criminals looking to take from Businesses?

If you are running a small-sized business, don’t assume that hackers are only looking to target big corporations. They are seeking opportunities to take data or finance from every business they can gain access to, and because smaller-sized businesses rarely use the same high-end security services that big corporations use, hackers often find accessing their systems a lot easier.

Small-sized companies often use technology for different tasks, including managing the payroll, tracking inventory, accounting, etc. Technology has improved the workplace and made doing business more efficient. When a cyber-attack occurs, it could cost the company dearly. Several companies have been forced to close after they have experienced a cyber attack. When these criminals successfully gain access to systems within a company, here are a few things they are looking for: 

• Personal information: They will often look for the personal information of the company's staff members and clients. In 2017, it was reported that approximately 17 million people throughout the United States had their personal information stolen, and with cybercrime on the rise, it is scary to think how many people are having their personal information stolen today. Losing your employee’s private details is bad enough, but losing your client’s information can destroy a company's entire business. Many people in business will have worked extremely hard to get new clients and even harder retaining them. If their personal information is stolen, your reputation and client base will more than likely go down the drain. 

• Product information: Businesses who are developing new products have to be extra vigilant. If a hacker was to get their hands on the new product’s prototype that was stored on a system, then years of hard work and the finance invested in the product will have been lost.  

• Corporate accounting information: Cybercriminals are constantly trying to gain access to corporate accounting data. With this data, they can impersonate a person working with the organization to gather more information from their clients. This can ruin an organization and cause major disruptions within an organization. 

But it's not always data that motivates these criminals. Sometimes they look to take control of the company’s network and attack the network with malicious software. 

Why are so many Businesses using a Virtual Data Room? 

To help protect sensitive data, it seems like businesses all around the world are investing in a VDR (virtual data room). Before technology took over, a lot of businesses used a traditional data room. This was often a physical room that was located in a secure area in the workplace. But there are a lot of security issues with these rooms, so people felt that a safer, more modern room would be a better alternative. It is a cloud-based sharing system that allows people to preview, edit, store and organize data.

A VDR makes it easy to collaborate with the business’s customers, fellow employees, members of the board, and others in a highly secure online environment. It helps businesses to Secure Data, so it is not surprising that businesses in almost every country are using it today. A quality VDR run by a reputable provider will do the following:

• Improve the company’s relationship with its customers: A VDR room will be able to ensure that the company’s clients’ personal information is secured. 

• Improves efficiency

• Increased security: Some of the top VDR providers use the world’s best security.

• Easy way to share sensitive data

• It will make your business look good: Potential clients will want to make sure that they are going into a business with a company that prioritizes cybersecurity, so implementing a top VDR will reflect well on a business. 

There is a variety of VDRs out there. If you are looking to invest in a VDR for your business, consider researching different providers first. VDRs that use high-end security systems and create user-friendly interfaces on their program will have gained a very good reputation. It might be worth your while asking other business owners about the VDR they use.