We are in the era of advanced technology where computers and artificial intelligence rule the world. Along with technology, cyber-crimes are also increasing. Just like we protect our homes by locking doors when we leave, we need to protect networks and computers with cyber security.
What is cyber security?
Cyber-security means protecting data, networks, programs, and other information from unauthorized or unattended access, destruction, or change. It is a part of IT security, along with its counterparts, physical security and information security. Simply, it aims to reduce the risk of cyber-attacks and protect against the unauthorized exploitation of systems, networks, and technologies. The point is, not all IT security measures are cyber security, because cyber security has its own set of assets to protect.
“Focusing on protecting electronic assets – including internet, WAN and LAN resources – used to store and transmit that information.”
~James Stanger
Of course, the threat to these electronic assets is hackers who have malicious intent to steal proprietary data and information via data breaches. Thus, it’s necessary to consider how people, processes, and technology all play equally important roles in keeping information safe.
Why Cyber – Security?
Cybersecurity is important because it safeguards all types of data against theft and loss. Sensitive data, personally identifiable information , protected health information ,personal information, intellectual property, data, and governmental and industry information systems all fall under this category.
Most importantly, the costs of cyber security breaches are rising. Organizations that experience cyber security breaches may face large fines under privacy rules such as the General Data Protection Regulation and the Data Protection Act of 2018. There are other non-monetary expenses to consider, such as reputational harm. Cyber-attacks are becoming more sophisticated, with attackers employing a wider range of strategies. Social engineering, malware, and ransomware are examples of these.
Cyber security is a serious issue that should be addressed at the board level. Cyber security risk oversight is becoming more difficult due to new legislation and reporting requirements. Management must assure the board that its cyber risk policies will lower the risk of attacks while also limiting financial and operational consequences.
Nowadays, cybercrime is a multibillion-dollar industry. According to The hidden costs of cybercrime, a 2020 study carried out by McAfee and the Center for Strategic and International Studies, based on data collected by Vanson Bourne, the world economy loses more than $1 trillion each year. Political, ethical, and social incentives can also drive attackers. According to The Hidden Costs of Cybercrime, a 2020 study by McAfee and the Center for Strategic and International Studies based on data collected by Vanson Bourne, the global economy loses more than $1 trillion each year as a result of cybercrime. Attackers may be motivated by political, ethical, or societal factors.
Who needs cyber security?
It is a mistake to imagine that cybercriminals are not interested in you. Everyone who uses the Internet requires cyber security. This is because the majority of cyber-attacks are automated and are designed to target common flaws rather than specific websites or organizations.
But some critical sectors are in the limelight more often when it comes to cybersecurity. They are Government and Critical Infrastructure and Companies Under Compliance and Regulations. Cybersecurity is important for the government and other organizations that have a direct impact on the country’s – or the world’s – well-being and security. Cyberattacks on governments, military organizations, and defense suppliers are beginning to supplement or replace physical attacks, placing countries at risk. Local governments have also been devastated by recent ransomware attacks, leaving them unable to offer essential and routine services. Cyberattacks on critical infrastructure sectors can be catastrophic, causing physical harm or severe disruption in services.
Many businesses are governed by cybersecurity regulations imposed by the government or industry. These guidelines ensure that businesses take steps to protect consumer data, as well as sensitive government and military information, from cyber-attacks. And those are just a few instances; many firms are affected by compliance obligations in some way. Noncompliance can result in significant financial fines, as well as major reputational harm and possibly contract loss.
Most of us know about the Target data breach from 2014. Through a weakness in Target’s HVAC contractor, attackers were able to get access to the company’s network. Enterprise corporations, as well as increasingly cyber-savvy smaller businesses, are recognizing that the companies with which they do business represent a form of insider danger. As a result, they frequently require their vendors to perform third-party cybersecurity audits, and failing to do so might cost the company money.
Types of cyber threats
The first step of keeping information safe is getting to know about cyber threats. There’s a long list of threats that are the most common cyber-attacks. They are malware, form jacking, crypto jacking, backdoors, DNS Poisoning attacks, DDoS attacks, and more. All of them need immediate attention and resolution.
Malware is a general term for any file or program that is designed to harm or disturb a computer. Commonly known as a virus, spyware, and trojan which can cause harm simply by opening the wrong attachment or clicking on the wrong link.
Types of Cyber-Security
Types of cyber security include critical infrastructure security which consists of the cyber-physical systems that modern societies rely on, Application security that uses software and hardware methods to tackle external threats that can arise in the development stage of an application, network security that ensures that internal networks are secure by protecting the infrastructure and inhibiting access to it, Cloud security, a software-based security tool that protects and monitors the data in your cloud resources and Internet of things (IoT) security which refers to the protection of a wide variety of critical and non-critical cyber-physical systems, like appliances, sensors, televisions, WIFI routers, printers, and security cameras.
Overall, cyber security is necessary to regulate the conduct and manners of interacting with computer systems in order to protect against suspicious behavior. Cybercriminals have an endless opportunity to cause havoc in a world where even our kitchen appliances and cars are connected to the internet.
In today’s world, it’s a rare company that doesn’t have a compelling reason to take cybersecurity seriously. Cybersecurity is a shared responsibility that goes beyond business or compliance because your security practices may be about more than just your company. Each and every day, cybersecurity is moving from a “nice-to-have” to a “must-have” …for everyone.
References:
https://www.itgovernance.co.uk/cyber-threats
https://www.itgovernance.co.uk/what-is-cybersecurity
https://www.comptia.org/content/articles/what-is-cybersecurity
https://www.mechdyne.com/it-services/who-needs-cybersecurity/