Cyber security is the state or process of protecting and recovery computer systems, networks, devices and programs from any type of cyber-attack.
Cyber security is important because it encompasses everything that pertains to protecting our sensitive data, Personally Identifiable Information (PII), Protected Health Information (PHI), personal information, intellectual property data and governmental and industrial information systems from thefts and damage.
Usage of cloud services like Amazon web services has raised significantly. It is used to store sensitive data and personal information. So, the poor configuration of cloud services paired with increasingly sophisticated cyber criminals. This means the risk that your organization suffers from a successful cyber-attack or data breach is on the hype.
So in the current society using simple firewalls and antivirus software may not give you complete security. Business leaders can no longer leave information security to cyber security professionals.
Cyber threats can come in any form. You must educate your staff about simple engineering scams like phishing, ransomware attacks or malwares designed to steal personal datas.
The goal of implementing cyber security is to provide a good security posture for computers, servers, networks, mobile devices and the data stored on the devices from attackers with malicious intent. Cyber-attacks can be designed to access, delete or extort an organization’s or users sensitive data, making cyber security important.
Cyber security is continuously changing field with the technologies that open up new avenues for cyber-attacks. Additionally, even though significant security breaches are the ones that get publicized, small organizations still have to be mindful of security breach prevention as they can also be the target of viruses and phishing.
Elements of cyber security
- Application security
- Information security
- Network security
- Disaster recovery/business continuity planning
- Operational security
- End-user education
Benefits of cyber security
- Business protection against malware, ransomware, phishing and social engineering.
- Protection of data and network
- Prevention of unauthorized users
- Improves recovery time after a breach
- Protection for end-users.
- Improved confidence in the product for both developers and customers.
Challenges of cyber security
Cyber security is continually challenged by hackers, data loss, privacy, risk management and changing cyber security strategies. As per statistics, cyber-attacks will dramatically increase in the coming years.
One of the most problematic elements of cyber security is the evolving nature of security risks. As technology developed, new attacks developed.
Cyber security should address end-user education as an employer may accidentantly bring a virus into a work place on their work computer, laptop or smartphone.
Another large challenge to cyber security includes job shortage. As growth in data from business becomes more important, the need for more cyber security personnel to analyse, manage and respond to incident increases. It is estimated that there are two million unfilled cyber security jobs worldwide.
Importance of cyber security
Cyber security importance is on the rise. Fundamentally, our society is more technologically reliant than ever before and there is no sign that this trend will slow. Personal data that could result in identity theft is now posted to the public on our social media accounts. Sensitive informations like Social security numbers, credit card information and bank account details are now stored in cloud storage services like Drop box or Google drive.
Government around the world are bringing more attention to cyber-crimes. GDPR is a great example. It has increased the reputational damage of data breaches by forcing all organizations that operate in the EU to:
- Communicate data breaches
- Appoint a data protection officer
- Require user consent to process information
- Anonymize data for privacy.
Impact of cybercrime
- Economic costs
Theft of intellectual property, corporate information, disruption in trading and the cost of repairing damaged systems.
- Reputational costs
Loss of consumer trust, loss of current and future customers to competitors and poor media coverage.
- Regulatory cost
GDPR and other data breach laws means that your organization could suffer from regulatory fines or sanctions as a result of cybercrimes.
Protect yourself against cybercrimes
- Educate all levels of your organization about the risks of social engineering and common social engineering scams like phishing emails and typo squatting.
- Invest in tools that limit information loss, monitor your third party risk and fourth-party-vendor risk and continuously scan for data exposure leak credentials
- Use technology to reduce costs like automatically sending out vendor assessment questionnaire as a part of overall cyber security risk assessment strategy.