The Dangers of Cyber Security Exposure for Restaurants
In this era of ever-present technology, any business that stores customer data is exposed to cybersecurity threats. During a September 2019 cyber-attack, hackers gained access to more than 30 million Facebook accounts, compromising customer data. This breach led Facebook to uncover a glaring bug that caused an even larger oversight. Passwords were stored in plain text without protective encryption. More than 20,000 employees were inadvertently given access to customer data.
According to Facebook, hundreds of millions of Facebook Lite users and tens of millions of Facebook and Instagram users were affected.
Restaurants are the #1 Cyber Target
It’s not just Fortune 500 companies and giant corporations that are vulnerable to cyber-attacks. In fact, restaurants are the most targeted businesses for cyber-attacks of any industry. With restaurants representing 50% of all breaches, it’s no wonder why cybersecurity is essential to keep your restaurant, employees, and customers protected.
Protect Customer Data and Your Reputation
Every bar and restaurant that stores customer data is a target for cyber-attacks. If a hacker accesses a restaurant’s POS and steals customer data, you could be held liable. Even offering free Wi-Fi to customers could expose you to significant risk. The cost of a successful hack can be a substantial resource drain: mandatory notification to affected customers, credit monitoring services, large fines and fees, exposure to lawsuits, and more.
If Tech Giants Are Vulnerable, So Are You
This was certainly not the first cybersecurity issue for Facebook, and it won’t be the last. As a restaurant in the digital age, using technology to capture customer data for marketing materials, loyalty programs, and promotions can be an excellent way to reward loyal customers and build your customer base. However, make sure protections are in place to help if customer data is ever compromised.
As a business owner, particularly within the hospitality industry, cyber liability coverage is essential for true peace of mind in this day and age. In order to protect your business, contact the restaurant experts at Bikelane for a free insurance assessment to ensure you’re covered.