Businesses are prone to all sorts of security risks every day. For example, it’s estimated that companies can lose $150,000 on embezzlement alone. It’s a huge risk that can happen to any company, big or small.
Moreover, because the world is becoming more digital every day, companies are also prone to the dangers of cybercrime. It’s estimated that cybercrime costs the entire economy $6 trillion annually. That’s about 30% of the country’s overall GDP! So it’s pretty clear that cybercrime will be a massive trend in the coming years.
If you’re part of a company, either the owner or an employee, it’s good to know about emerging trends in security and risk. Here are some trends you should know about this year.
Fire Risk
Not all security risks come from criminal activities. For example, fires can also be a considerable risk to businesses. According to the NFPA, fires cause over $20 billion in property damage annually.
You can do a few things to mitigate the risk of fire in your business. First, ensure you have a fire sprinkler system installed and that it’s up to date. You should also have a plan in place in case of fire. Finally, everyone in the company should know what to do and where to go in the event of a fire.
You should also regularly check electrical wiring and ensure there are no hazards. Furthermore, you should never leave flammable materials near heat sources.
Lastly, it’s good to have professionals to manage your alarms. Hiring an alarm monitoring company can make a massive difference in the efficiency of the first respondents to your business. In addition, they can drastically reduce the time it takes to get the authorities to your business in the event of a fire. This can mean millions of dollars saved because of the fast response team.
Employee Theft
Employee theft is a massive problem for businesses. It’s estimated that employee theft costs businesses over $50 billion every year. That’s why it’s so essential to prevent employee theft in the first place.
There are a few different ways to prevent employee theft. First of all, you need to have reasonable security measures in place. It includes things like access control and CCTV.
You also need to train your employees on how to prevent theft. For example, they should know not to leave valuables unattended and report any suspicious activity.
Lastly, you need to have a policy for dealing with employee theft. This policy should include things like disciplinary action and termination.
Cybersecurity Mesh
As cybercrime becomes a bigger and bigger problem, businesses are looking for new ways to protect themselves. One of the latest cybersecurity trends is using a security mesh.
A security mesh is a network of devices that work together to provide security. Each device in the mesh is connected to all the other devices in the network. This way, if one device is compromised, the others can still provide security.
The benefit of using a security mesh is that it’s much more difficult for cybercriminals to attack. They would need to compromise multiple devices simultaneously, which is much more complicated than attacking one device.
Another benefit of using a security mesh is that it’s much easier to manage than traditional cybersecurity solutions. For example, you don’t need to manage each device individually, which can be very time-consuming.
You should consider using a security mesh if you’re looking for a new way to protect your business from cybercrime.
Data Loss Prevention
Data loss is a massive problem for businesses. It’s estimated that data loss costs businesses over $1 trillion every year. That’s why data loss prevention is such a significant trend.
Data loss prevention is the process of preventing data from being lost in the first place. There are a few different ways to do this. First of all, you need to have good backups in place. Then, if your data is lost, you can restore it from the backup.
You also need to have security measures in place to prevent data loss in the first place. It includes things like encryption and access control.
Lastly, you need to plan what to do if data is lost. This plan should include who to contact and how to restore the data.
Businesses have become ever more diverse throughout the years, and with that comes new security and risk trends. This article discusses four of the most critical security and risk trends businesses should be aware of. By finding ways to combat these security risks, you can have a safer business that can gain more revenues over time.
