Nonprofit Blog

As manufacturers continue to explore new avenues for growth with emerging technologies, it is important to analyze risk and security. The manufacturing industry has experienced a 44% increase in cyber risks since 2013. This year, 92% of manufacturers listed cybersecurity concerns in their SEC disclosures. It is also the first time that BDO USA, LLP ranked cyber risk among manufacturers’ top 10 risk factors.

Borrowers need to upgrade equipment to stay productive and competitive. But retiring these assets without following secure disposal protocol can be risky. Here’s an overview of what could possibly go wrong when a retired piece of equipment sits idle in a storage closet or garbage dump — or it’s returned to the leasing company.

Most companies take advantage of basic security measures such as data encryption and secure payment methods to protect against hackers. However, there is a lesser-known online security scam - typosquatting. All it takes is accidentally misspelling a company name when trying to find their website. Your borrowers may end up being unknowingly diverted to sites where they download malware. And poof, their personal information is stolen. As with any technology scam, education is key — so share this important information with your borrowers.