Cyber ​​attacks: the danger that can kill your SME

Last October the European Cybersecurity Month and one of the objectives of this movement is to continue to make society aware of the risks that cyber fraud entails. Above all, in those sectors that are not so familiar or do not know the existing tools to combat cybercrime, such as that of small and medium-sized companies.

Various studies confirm that online commerce in SMEs has shot up 70% since 2019, where digitization and the search for new markets and opportunities during the COVID pandemic are being responsible for this boom in the sector. Also, with the pandemic as a trigger, card payments They have increased exponentially and, according to the latest studies, we currently have 87.5 million payment cards in Spain (we have more cards than inhabitants) and 40.5% of the population already prefers to pay with this method.

These figures make one thing clear and that is that any type of business transaction is already carried out online or through electronic devices. All these operations generate a large amount of confidential data that must be protected and that have become one of the targets of cybercrime, especially in companies where there is no department or person specialized in security.

To try to find a solution to this problem, the main financial services companies worldwide, such as VISA, MasterCard, Discover, JCB and AMEX, created the PCI Data Security Standard (PCI DSS), a security standard that aims to reduce fraud related to credit cards and increase the security of the data involved in online transactions. Any company that processes, stores or processes card data must comply with the regulations. The PCI DSS standard certifies the possession of a payment card data security system and thus prevents alleged fraud through them.

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The ignorance of SMEs

The regulations are clear but, unfortunately, the reality is that many SMEs do not know about it, nor do they know how to apply it, which can lead them not only to put corporate and customer data at risk if they are hacked, but also to face hefty fines if they receive an inspection.

Hence the importance of putting yourself in the hands of certifying companies like ours that take charge of the entire security process in the means of payment to comply with the regulations and that, in turn, carry out awareness-raising work on cybersecurity, which helps to raise awareness of the importance of cybersecurity in line with this year’s European Cybersecurity Month slogan: Think Before U Click.

All professionals in the sector work on that, not only in October, but 365 days a year, so that entrepreneurs, employees and individuals think carefully about the risks before clicking anywhere and, above all, that they can detect if the company where they are going to carry out the transaction has the necessary certificates and security filters to be able to complete the payment in full confidence. Since a cyberattack can cause significant economic losses, serious consequences for the reputation of a company or even its final closure.

Miguel Ángel Rojo, CEO of BOTECH.

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