Finance Monthly December 2019 Edition

32 www.finance-monthly.com FINANCE & BUSINESS - BLACK FRIDAY & CYBER MONDAY BLACK FRIDAY AND CYBER MONDAY: FULL OF DEALS OR CYBERSECURITY STEALS ? In 2018, consumers spent a record-breaking $6.22 billion while shopping on Black Friday. Similarly, Cyber Monday sales alone set a record $7.8 billion on spending. Consumer spending on holiday retail is expected to increase 4.5% to 5% this year, rising to more than $1 trillion. Just as frequently as sales pop up around the holidays, so do global fraud attempts. With increased exposure to spam and hackers, businesses of all sizes should prepare to stay safe during the biggest shopping spree of the year. The importance of cybersecurity and protecting against malware, hackers and cyber-attacks is elevated for individuals and businesses alike during the holiday shopping season. The heightened risk can be attributed to increases in shopping and online traffic. This Jessica Dore leads Rehmann’s Technology Risk Management Group, overseeing cybersecurity assessments, information security assessments, vulnerability and penetration testing, social engineering testing and information security training. Below are her tips for businesses to stay safe during the biggest shopping spree of the season. Jessica Dore - Rehmann www.rehmann.com