Wouldn't it catch your attention to see 7,000 login attempts on your dealership's laptop at three in the morning?
Without network monitoring, your dealership might miss this red flag for weeks or months until the password is compromised. It's crucial to investigate such a data breach attempt immediately and take steps to prevent future ones.
Cyber criminals today heavily rely on automated tactics, casting a wide net to exploit vulnerabilities, such as:
- Weak passwords and lax policies
- Outdated software
- Suspicious emails reaching employees' inboxes
- Use of vulnerable web applications
- Presence of unauthorized access points
- Vulnerabilities within vendors or partners
Cyber criminals could be in your system silently watching and gathering information if your business doesn't monitor its systems or run regular scans. According to IBM's Cost of Data Breach Report, the average time it takes a business to detect and contain a cyber attack is 287 days.
An automotive group operates seven dealership locations, each equipped with over 100 computers or servers — plenty of devices for cyber criminals to target. The Chief Financial Officer of this group is keenly aware of the risks involved.
This dealership fortifies its defenses with quarterly vulnerability scans, enhancing its readiness against potential threats.
“We felt it was very important to not only understand our systems from the view of a third party looking in but also to be able to create a roadmap to address what we need to work on,” the CFO said.
Conducting quarterly third-party vulnerability scans offers numerous advantages for dealerships:
Protecting Customer Data
Auto dealerships handle sensitive customer information, including financial data. Vulnerability scans help identify weaknesses in the dealership's systems that could be exploited by hackers to access this data.
Compliance Requirements
Many auto dealerships are subject to regulatory requirements such as the Payment Card Industry Data Security Standard (PCI DSS) or the FTC Safeguards Rule. Regular vulnerability scans help ensure compliance with these standards, avoiding potential penalties and legal issues.
Protecting Business Operations
Cyber attacks disrupt business operations. By conducting vulnerability scans, auto dealerships can identify and address vulnerabilities before they are exploited by attackers, reducing the risk of costly downtime to their business.
Maintaining Brand Reputation
Customers expect auto dealerships, to take security seriously and protect their sensitive information. According to the CDK State of Cybersecurity report, 84% of consumers said they wouldn't return to buy another vehicle if their data shared with a dealership was compromised.
Identifying Third-Party Risks
Auto dealerships often rely on third-party vendors for various services, such as CRM systems, website hosting, or inventory management. Vulnerability scans can help identify security risks associated with these vendors.
Running a dealership with weak security can have serious consequences. Conducting quarterly vulnerability scans can yield substantial benefits, significantly enhancing overall dealership security.