{"id":4576,"date":"2019-07-30T12:46:47","date_gmt":"2019-07-30T16:46:47","guid":{"rendered":"http:\/\/www.atyourbusiness.com\/blog\/?p=4576"},"modified":"2019-07-30T12:47:16","modified_gmt":"2019-07-30T16:47:16","slug":"understanding-the-importance-of-cybersecurity-due-diligence-for-business","status":"publish","type":"post","link":"https:\/\/www.atyourbusiness.com\/blog\/understanding-the-importance-of-cybersecurity-due-diligence-for-business\/","title":{"rendered":"Understanding the Importance of Cybersecurity Due Diligence For Business"},"content":{"rendered":"\n

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From the enormous Equifax data breach<\/a> to increased cyber threats around the globe, the importance of cybersecurity for businesses is stressed now more than ever before. <\/p>\n\n\n\n

As a company that collects the personal data, credit card\/bank numbers, and other sensitive information of your clients, it is your responsibility to do everything you can to keep the information you store over the Internet safe. <\/p>\n\n\n\n

If you don’t?<\/p>\n\n\n\n

You could be facing hefty fines that can easily put you out of business<\/a> for good. <\/p>\n\n\n\n

In this post, we’ll fill you in on what your responsibilities are regarding cyber diligence, as well as why it matters.<\/p>\n\n\n\n\n\n

What Is Cyber Security Due Diligence?<\/h2>\n\n\n\n

Before we speak more about the importance of cybersecurity, let’s make sure that you understand what it is, as well as the different types of due diligence you may be expected to comply with. <\/p>\n\n\n\n

Due diligence<\/a> means reviewing all the systems that you use to collect, store, and even share customer data\/information.<\/p>\n\n\n\n

You should ensure that you have multiple controls in place, an emergency plan in the event of a data breach, backups of data, and frequent updates of any security software used. <\/p>\n\n\n\n

You also need to identify the biggest potential threats and risks to the data you hold. Due diligence also means confirming the accuracy of the data you hold. <\/p>\n\n\n\n

There are quite a few different, industry-specific types of due diligence to choose from. They include administrative due diligence, transaction monitoring, resource allocation for cybersecurity, internal\/employee regulations, insurance policies, and much more. <\/p>\n\n\n\n

Why Does Cyber Diligence Matter?<\/h2>\n\n\n\n

Now that you understand more about what’s expected of companies when it comes to due diligence, let’s talk about the importance of cybersecurity as a whole. <\/p>\n\n\n\n

Earlier, we mentioned that data breaches\/hacks can put your company out of business and cost you hefty fines. But data breaches can also make it difficult for you to find other work within your industry or start a new company. <\/p>\n\n\n\n

Above all, poor cybersecurity management is an enormous hit to both your personal and professional reputation. <\/p>\n\n\n\n

Cybersecurity due diligence is especially key to those who work within mergers & acquisitions. <\/p>\n\n\n\n

Whether you’re buying or selling a company, if you inherit major data security issues or fail to identify them before selling the business to someone else, you could be in serious legal hot water. <\/p>\n\n\n\n

Finally, a strong cybersecurity policy improves consumer trust and increases customer loyalty. <\/p>\n\n\n\n

Don’t Neglect the Importance of Cybersecurity Due Diligence<\/h2>\n\n\n\n

We hope that this post has highlighted the importance of cybersecurity due diligence as a way to protect both your customers and your business as a whole. <\/p>\n\n\n\n

Now is the time to upgrade your digital security, work with a quality IT management company, and retrain your employees to ensure that everyone is on the same page when it comes to what kind of online behavior is and isn’t acceptable in the workplace. <\/p>\n\n\n\n

Looking for access to more cybersecurity tips and tricks? Need to learn what you can do to recognize potential threats? <\/p>\n\n\n\n

Keep checking back in with our blog to make sure you’re always in the know. <\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

From the enormous Equifax data breach to increased cyber threats around the globe, the importance of cybersecurity for businesses is stressed now more than ever before.  As a company that collects the personal data, credit card\/bank numbers, and other sensitive information of your clients, it is your responsibility to do everything you can to keep the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,46],"tags":[],"_links":{"self":[{"href":"https:\/\/www.atyourbusiness.com\/blog\/wp-json\/wp\/v2\/posts\/4576"}],"collection":[{"href":"https:\/\/www.atyourbusiness.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.atyourbusiness.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.atyourbusiness.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.atyourbusiness.com\/blog\/wp-json\/wp\/v2\/comments?post=4576"}],"version-history":[{"count":1,"href":"https:\/\/www.atyourbusiness.com\/blog\/wp-json\/wp\/v2\/posts\/4576\/revisions"}],"predecessor-version":[{"id":4578,"href":"https:\/\/www.atyourbusiness.com\/blog\/wp-json\/wp\/v2\/posts\/4576\/revisions\/4578"}],"wp:attachment":[{"href":"https:\/\/www.atyourbusiness.com\/blog\/wp-json\/wp\/v2\/media?parent=4576"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.atyourbusiness.com\/blog\/wp-json\/wp\/v2\/categories?post=4576"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.atyourbusiness.com\/blog\/wp-json\/wp\/v2\/tags?post=4576"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}