Sajin Rajan
by on September 22, 2022
Data breaches are expensive, and with the rise in data breaches, direct sales companies need to invest more time on cybersecurity. With so much personal information at stake when it comes to direct selling companies, it's important for these businesses to be prepared for any breach or hack attack. The industry should adopt innovative cybersecurity measures to protect direct sales companies them from threats such as malware attack, ransomware attack, etc.

The report "State of Cybersecurity Resilience 2021" predicts that the cost of data breaches is expected to reach $5 trillion by 2024.

Cybersecurity is a growing concern for businesses of all sizes, especially those in the legal, insurance, retail, financial and healthcare sectors. In fact, 43% of cyberattacks target small businesses. One out of five companies experience cybersecurity incidents annually. This statistic only tells part of the story; there are many other challenges that can arise when you fail to prepare your business with a comprehensive cybersecurity plan tailored specifically to your needs.

With the evolution of technology, businesses are no longer constrained to one location. With a need for increased flexibility and reduced cost, many network marketing organizations have embraced remote work environments. But with this comes an increased rate of risk associated with it. Distributors access your system from locations unknown, and that increases your chances of being exposed to cyberattacks. The solution is to educate your distributors on how they can identify potential threats, while not discouraging them from utilizing remote work environments when necessary.

Cyber insurance is a must for direct sales businesses to keep them safe from data breaches. Data breach can be an expensive affair for the company and also for their customers, especially if the information being breached includes personal information such as social security numbers or credit card details. Direct selling industry need to take some precautions in order to avoid cyber extortion that might threaten its reputation or damage its bottom line.
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