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Security breaches scare off online customers

Nowadays, the majority of American companies have some sort of internet presence, and many of them offer online sales or other e-commerce services. Of course, as many Georgia business owners know, there are numerous benefits to online transactions. Customers love the convenience of browsing products from the comfort of their laptops, tablets or smartphones. Meanwhile, many companies find ways to reduce operational costs by pushing much of their business online. Having an online presence also allows your company to reach new audiences far and wide.

But with that heightened exposure also comes some of the major perils of e-commerce — hackers and identity thieves. Skilled individuals can find the weak spots in your cybersecurity and steal not only your company’s sensitive information, but also the usernames, passwords, credit card numbers and other personal details of your customers.

The collateral damage doesn’t stop there. If your company has had a data breach, that can have a serious impact on the future of your business. Understandably, many customers have a harder time trusting a company that’s cybersecurity has failed. According to a report, 39% of shoppers said they spend less than they did before at retailers who have had a security breach, and 34% said they are too afraid of data breaches to shop online. Their fears aren’t unfounded. Due to breaches, some three out of every four shoppers have had their personal information exposed and 85% said they are wary of companies that have had breaches.

Getting the help your business needs

Hackers can and do attack businesses in every industry, attempting to steal their valuable information. It’s a good idea to evaluate and update your company’s cybersecurity protocols regularly. That might even entail looking into hiring a third-party cybersecurity firm to handle the protection of your business.

But whether it’s writing contracts between companies and security experts or dealing with the fallout of a data breach, there are plenty of complexities involved in internet law. An experienced Georgia business law attorney can help handle the details and take measures to safeguard your company’s best interests in today’s challenging technological times.