The Importance of cyber Security Today

12/24/2018

The threat of cyber crime for businesses is growing rapidly. McAfee estimates that cyber crime-related damages now exceed $ 400 billion (compared to $ 250 billion two years ago). To avoid cyber criminals, companies are increasingly investing in strengthening their digital borders and security protocols.


However, many are still discouraged by the cost or the surprising supply of tools and services. Five reasons why investing in cyber security is a wise decision.

1. The rising costs of violations.

The fact is that cyber-attacks can be extremely expensive for businesses. According to the latest statistics, the average cost of a data breach in a large company is £ 20,000. However, this underestimates the actual cost of attacking a business. It's not just the financial damage the company has suffered or the cost of the repair. A data breach can also cause a blatant reputation damage.

A cyber attack can cause customers to lose confidence in their business and spend their money elsewhere. A bad reputation in terms of security can also prevent new contracts.

2. More and more sophisticated hackers.

Almost all companies have websites and externally exposed systems that could provide criminals with access points to internal networks. Hackers have much to gain from successful data breaches, and there are countless examples of coordinated and well-funded IT attacks against some of Britain's largest companies.

3. Privacy tools are widely used

While well-funded and highly skilled hackers pose a significant risk to your business, the widespread availability of hacking tools and programs on the Internet also means that threats are increasingly threatened by less skilled people. The commercialization of cyber crime has made it easy for anyone to save resources for malicious attacks such as ransom ware and cryptography.

4. The proliferation of IT devices.

Other smart devices that are never connected to the Internet. These are called Internet of Things or IT devices and are becoming more prevalent in homes and offices. Superficially, these devices can simplify and speed up tasks while improving control and accessibility. However, the distribution is a problem.

Unless properly managed, any IT device connected to the Internet can allow cyber criminals to enter the market. IT giant Cisco estimates there will be 20.1 billion connected devices in 2021 worldwide. This problem will only get worse. By developing IT devices that can present a variety of security vulnerabilities, it is advisable to conduct periodic vulnerability assessments to identify and manage the risks that these assets pose.

5. A stricter regulation.

Criminal attacks mean that businesses need to invest in cyber security more than ever. The introduction of regulations such as GDPR means that organizations more than ever need to take security seriously or face heavy fines.

The RGPD was introduced by the EU to force organizations to better protect the personal information they hold. One of the DSGVO requirements is that organizations must take appropriate technical and organizational measures to protect personal data, to regularly monitor controls, identify, investigate and report violations.

© 2018 Anthony Garfield. All rights reserved.
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