This should scare any online business: A McAfee report found worldwide last year, retailers lost more than $1 trillion in cybercrime. Could it get any worse? Experts say “yes.” They predict cybercrime will continue to grow rapidly in 2021. In fact, Cybersecurity Ventures reports by the end of this year, ransomware will attack a business every 11 seconds.
It’s happening because it pays to breach, hack, and steal.
Reports estimate the bad guys pocket hundreds of billions of dollars every year. Plus, the risk of the cybercriminals getting caught is low.
Finally, experts say the criminals are simply doing a better job than e-commerce of adopting new technology. It’s more important than ever for you to establish business cyber security solutions.
Red Maple works with retailers around the world to provides a variety of solutions to help them safely and easily process credit cards and service customers. There are key steps you can take to protect you site and your customers from cyberattacks and increase cyber security.
Why is it necessary to spend time and money on cyber security?
The main reason is to keep customers happy and coming back. A recent survey found most people will NOT stop on a site if they don’t feel they can trust the site.
How does two–party authentication work?
Basically, two-party authentication requires the user to use two methods to verify their identification, whether with a code, a fingerprint, or a text. It is one of the easiest ways to increase cyber security.
How can Red Maple help me provide better security?
The best way is with our proprietary software Clever Division (formerly StagedPay) which divides the credit card information into two different “vaults” meaning the entire number is never stored on your website.