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cyber security

 
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Why cyber security is important?

 

Cybersecurity is the state or process of protecting and recovering computer systems, networks, devices, and programs from any type of cyber attack. Cyber attacks are an increasingly sophisticated and evolving danger to your sensitive data, as attackers employ new methods powered by social engineering and artificial intelligence (AI) to circumvent traditional data security controls.

Cybersecurity is important because it protects all categories of data from theft and damage. This includes sensitive data, personally identifiable information (PII), protected health information (PHI), personal information, intellectual property, data, and governmental and industry information systems.

Without a cybersecurity program, your organization cannot defend itself against data breach campaigns, which makes it an irresistible target for cybercriminals.

 
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Business leaders can no longer solely rely on out-of-the-box cybersecurity solutions like antivirus software and firewalls, cybercriminals are getting smarter and their tactics are becoming more resilient to conventional cyber defences.

Cyber threats can come from any level of your organization. Workplaces must not include cybersecurity awareness training to educate staff about common cyber threats like social engineering scams, phishing, ransomware attacks (think WannaCry), and other malware designed to steal intellectual property or personal data.

The fact of the matter is the world is increasingly reliant on technology and this reliance will continue as we introduce the next generation of new technology that will have access to our connected devices via Bluetooth and Wi-Fi.

To keep customer data protected while embracing new technology, intelligent cloud security solutions should be implemented alongside strong passwords policies like multi-factor authentication to mitigate unauthorized access.

 
 

Why is Cybercrime Increasing?

 

Information theft is the most expensive and fastest-growing segment of cybercrime. Largely driven by the increasing exposure of identity information to the web via cloud services.

According to the Ninth Annual Cost of Cybercrime Study from Accenture and the Ponemon Institute, the average cost of cybercrime for an organization has increased by $1.4 million over the last year to $13.0 million and the average number of data breaches rose by 11 percent to 145. Information risk management has never been more important.

Data breaches can involve financial information like credit card numbers or bank account details, protected health information (PHI), personally identifiable information (PII), trade secrets, intellectual property and other targets of industrial espionage. Other terms for data breaches include unintentional information disclosure, data leak, cloud leak, information leakage or a data spill.

Other factors driving the growth in cybercrime include:

  • The distributed nature of the Internet
  • The ability for cybercriminals to attack targets outside their jurisdiction makes policing extremely difficult
  • Inreasing profitability and ease of commerce on the dark web
  • The proliferation of mobile devices and the Internet of Things.

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