A small business has suffered from a cyber attack, what could be the resultant damage

Cyber Attacks can damage small or big business. Different kinds of attacks will lead to the different losses. some of the most common attacks are

Each attack can impact different domain and different level of damages. The biggest damage can be loss of reputation and monetorial losses. It can eventually invite law suites and can make company go bankrupt.

Explanation:

Following damages can be seen with cyber attacks.

Loss of Reputation : Loss of reputation is the worst damage that any cyber attack can create. This will  result in the business losses and also result in irreversibledamage to existing customer base and also it will spoil the market value.

Loss of Corporate Information: Attackers can use the corporate information which can consist of customers data, unwanted lawsuits and also company’s employees details. Data recovery may not be possible once the attacker has full corporate access.

Loss of Identity: Once the personal information is lost then Hackers can use personal information for impersonation, and identity theft. Identity theft is more dangerous as it is used for illegal activities.

Cyber-attacks can disrupt your business activities and it will include as below

Loss of Data : Successful cyber attack can damage the data and even can corrupt the data which will be of no use.

Loss of Infrastructure : Servers, computers, databases can be disrupted with a cyber-attack which can be irreversible and even be more disastrous as physical infrastructure is impacted.

Extortion losses : Attackers can threaten to disclose sensitive data and can intern ask for ransom payment.

Lawsuits : If the customer’s data is exposed or used for illegal business then it will invite huge lawsuits.

Notification Policy : If data is breached then it is also important to notify the effected users and the next remedy taken to resolve it.

Loss of Business : Cyber attacks can create business losses and also will eventually affect existing and new customers.

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