The healthcare industry as a whole is under severe threat when it comes to data security. As medical records are more valuable to cyber criminals than card data is, as it fetches them more on the black market. Consequently, we have seen a huge number of data breaches in this industry over the past few years. In fact, in 2015, there were more than 112 million records exposed in the healthcare sector. However, a lot of chiropractic clinics in the UK are still underestimating this threat and in the process they are putting their business at risk.
If you are like most businesses, you will no doubt have adopted technology in some form over the past few years. As technology has been integrated into the healthcare sector, the risks have increased, as cyber criminals have a route in. If you do not protect your customer and employee data effectively, it is only a matter of time before it is exposed.
This is not something that only impacts large businesses, contrary to popular belief. A PWC study revealed that 74 per cent of small businesses were breached in 2015. The reason why cyber criminals often target SMEs is because they recognise that they do not have the money to invest in expensive cyber security systems and security personnel. Thus, they see it as a quick and easy way to make money. In fact, this is something that rings true for the healthcare industry as a whole, as a lot of chiropractic clinics are using outdated software, which is another thing that makes it easy for hackers to expose data.
Another factor that needs to be taken into consideration is PCI compliance. If you take payment via credit or debit card, no matter how frequently or infrequently or what cards you accept, you need to comply with PCI DSS. This stands for Payment Card Industry Data Security Standard. This is a set of regulations that all businesses need to follow if they store, process, or transmit card data.
The requirements range from installing and maintaining a firewall configuration to using two-factor authentication. If you do not follow the regulations that are in place, you can find yourself facing huge fines. These fines are passed on from your bank, and they may terminate your contract, or at the very least your interest rates will go up considerably.
You will then have the cost associated with identifying the security vulnerability and fixing it. You will also have fraud losses and you will need to pay compensation to your customers. That is without mentioning the damage it will do your reputation, which can be extremely hard to rebuild, and costly.
To ensure you don’t have to worry about this, get in touch with Retail Secure to discover more about our cyber security solution, which is a PCI Level 1 Certified solution. This is an affordable solution that reduces the chance of a data breach considerably and is easy to install and manage.