Cyberbullying has become a hot topic among parents over the last several years. With so much private information being shared online, it is no wonder bullies have taken their attacks to the next level, invading our most personal platforms. However, cyberbullying is not just an issue for the individual. It has rapidly become a serious issue in the business world, and well equipped cyber know-it-alls are going after the companies we do business with, backing them into a virtual corner and bullying them out of millions.
When we do business with a company and provide them with our personal and financial information, we assume they’ll do everything in their power to keep it safe, and most times they do. However, with recent large scale hacks like the Christmas season Target breach, and most recent Ashley Madison hack, some companies are getting worried they may be next.
While it is near impossible for all companies to guarantee their customers 100 percent hack proof privacy of their personal information, prior to these most recent breaches, most customers were unaware of this threat. Now that the public is well informed of the potential for hacks, companies have resorted to giving into cyber bullies, and in many cases that mean paying out thousands, if not more in ransom demands for stolen data.
What does this mean for the customer? Well, with the threat of data hacks on the rise, some companies have looked into insurance as a way to protect itself from cyber extortionists. Besides, premiums are a better use of company money than paying ransom demands for data that may never be returned. For the customer, this means more protection for their private information, and for the company, bulking up against cyberbullying is a good idea. It may lead to the public’s renewed sense of trust in them, and possibly less money paid out in the long run.