The costs can be significant and include tens of thousands of dollars in lost revenue and gross margin per day, damage to company reputation, wasted labor costs, potential ransom payments which can reach hundreds of thousands of dollars, and costs for investigations, legal fees, and possible PCI fines.

The FCC’s ban specifically applies to new technologies from companies like Hikvision, ZTE, and Huawei. Existing equipment, which has already received import and sale authorizations, is not affected by the ban. However, the FCC has indicated that existing authorizations could potentially be revoked in the future, so it’s important for users to stay informed about any updates.

Phishing is the criminal practice of sending emails that appear to be from reputable companies to induce individuals to reveal personal information such as passwords, bank accounts, or credit card numbers. It is a major concern for businesses because nearly half of employees don’t know what phishing is, leading to potential data breaches and compromise of sensitive information.