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Protect Your Jewelry Business Against Cybercrime

As cyberthreats increase in frequency and severity, it's vital for businesses to take action now to prevent costly security breaches.

What is Cybercrime?

According to Cybersecurity Ventures, there is roughly 1 cyberattack every 39 seconds graphic

Cybercrime refers to any criminal activity in the digital realm, spanning internet-connected devices, networks, social media accounts, and even bank accounts.

Cybercrime can have a significant impact on a business, including:

  • Financial loss
  • Reputation damage
  • Day-to-day operational disruptions
According to Cybersecurity Ventures, there is roughly 1 cyberattack every 39 seconds graphic

What Are the Most Common Cybersecurity Threats for Businesses and Jewelers?

Phishing

Phishing emails trick individuals into sharing sensitive information, clicking on a malicious link, or downloading malware. 

Ransomware

Ransomware attackers hold data hostage and demand payment in exchange for its release. 

Business Email Compromise (BEC)

BEC occurs when a cybercriminal compromises an organization’s email system or individual account for the purpose of fraud.

Identity Theft

Identity theft occurs when a valid user’s credentials have been compromised, leading to unauthorized access to sensitive information. 

Supply Chain Attacks

Supply chain attacks occur when a trusted third-party vendor software is compromised, injecting malware into the software. Once a business downloads the software, it also becomes compromised.

Insider Threat

Internal attacks are perpetrated by employees or former employees who have direct access to company information or knowledge of business processes, usually to sell information for financial gain.

How to Secure Your Business from Cyberattacks

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Enhance Protection with Cyber Liability Insurance

Implement Strong Authentication 

  • Use strong passwords and avoid sharing them. Utilize passphrases for extra security, i.e., a short sentence or phrase made up of 15 characters. 
  • Avoid generic accounts, i.e., accounts used by multiple users and not assigned to a unique individual. 
  • Implement multi-factor authentication. 
  • Employ password management tools, e.g., Keeper and Bitwarden. 
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Employee Training and Access Control

  • Cultivate a security-aware culture.
  • Manage information access appropriately.
  • Educate your staff on security awareness.

Strengthen Technical Controls

  • Install anti-malware solutions. 
  • Encrypt your data. 
  • Implement a firewall. 
  • Apply timely security patches to your systems and software. 

Cybersecurity Webinar Series

Watch our three-part webinar series dedicated to all things cybersecurity so you can feel confident and prepared for anything.

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Part 1: Understanding the Cyber Threat Landscape

Join us for a review of cybersecurity basics, current cybercrime trends, the cyberthreat landscape, and the methods and tactics cybercriminals often use—so you can educate your staff and help protect your business.

 

VIEW RECORDING 

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Part 2: Protecting Your Business Against Cyber Threats 

Learn how to develop and implement a multi-layered, holistic cybersecurity plan in your store from our security experts– helping you protect your business and develop a year-round security mindset with your staff.

 

VIEW RECORDING 

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Part 3: Cyber Incident Response and Recovery for Jewelry Businesses 

Hear from our experts about how to prepare for potential cyber incidents so you can respond and recover effectively and get back to business as quickly as possible, if you experience one.

 

VIEW RECORDING 

Helpful Resources

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Important Cyber Considerations Guide

Important Cyber Considerations Guide

Download our educational guide to help educate your staff on technology expectations and additional cybersecurity considerations to safely run your business.

Learn More

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What is Cyber Liability Insurance Blog

What is Cyber Liability Insurance Blog

Learn from real-life examples of how cybercriminals target jewelry business and why cyber liability coverage is necessary, even with adequate jewelers block insurance.

Learn More

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Online courses icon

Jeweler Safety and Security Academy - Cybersecurity Courses

Jeweler Safety and Security Academy - Cybersecurity Courses

Enroll in the online Safety and Security Academy today for in-depth courses on how to keep your business safe from cyber threats and more.

Learn More

Data Breach & Cyber Related Protection with Jewelers Mutual

Founded by jewelers, Jewelers Mutual remains remains committed to safeguarding jewelry businesses for more than a century. We're exclusively endorsed by the industry’s leading organizations that contribute to the safety and well-being of jewelry businesses.

Our Businessowners Policy includes optional add-on coverage for data breach and cyber protection. This product covers first-party losses from financial fraud and liability claims related to lawsuits or regulatory penalties, including data compromise, e-commerce, computer fraud, funds transfer fraud, and identity fraud expenses. 

Talk to your agent about coverage. Contact us to find an agent. 

Have questions or concerns about cybersecurity? Email our experts.

Customer paying with a credit card and a jeweler holding a gift bag

Stay Informed: Crime Awareness Alert

The jewelry industry is facing a surge in sophisticated crimes, highlighting the urgent need for business to take action and help reduce risk. This growing impact of crime poses an immediate threat to businesses and implementing preventive measures has become more crucial than ever.