We live in an interconnected world, where millions of new users are daily being added to the global database server and within a matter of few clicks, they are able to access unlimited spaces of information. The Internet has integrated with our lives such that from communications to business opportunities, to even a conflict, everything fundamentally relies on the Internet.
It has turned the world into an information-based society where information is being spread and processed in real time. As the number of Internet users primarily increase around the world, the threat of cybersecurity increases with it — and the spread of cyberattack should come as no surprise, whatsoever.
It is estimated that by 2020 there would be some 50 billion devices that would be connected to the Internet. At a time when espresso machines have IP addresses and your voice assistant TVs continually listen to you, security challenges are becoming prevalent.
Without rigorous testing, networks are more vulnerable than ever. Hackers have found a great way to get unauthorized access via new entry points to our homes and business networks and it requires a great deal of continuous effort is required to keep all that data from the reaches of these hackers
Why Cyber Security Matters
Cyber Security is an issue which concerns everyone — especially as we become reliant on the global communications, correspondence and information system. A compromised device has a way of infecting other devices around it, so cybersecurity isn’t just about protecting you, but it is about protecting all of us.
Just like any other good, cyberspace has now become an open ground for misuse. As developed countries are now mostly reliant on web-based services, a compromise and breach in the security systems could have serious economic and social effects.
Bots, Trojans and zombie networks are just one of the few examples. Exploiters are on the look for such machines to infect them and spread malware on their devices and use them to spread out to other machines. This greatly amplifies their ability to reach millions of users.
Even social media networking sites and emails can be contagious. If your accounts are insecure, they can be used as a tool for exploitation, spread infections and steal data or money. So, protecting your account isn’t just for some altruistic goal to keep others safe but rather it can also have a direct impact on your reputation and financial wellbeing.
Cybersecurity — A Global Concern
Though cybersecurity gravity is a global phenomenon, it can be a silver lining for some companies as they get a competitive edge at the marketplace. Disruptions and technology outages make it harder for businesses to grow fast.
Even something so trivial like spam email can in the worst-case scenario lead to identity theft or financial fraud, so beware!
In fact, the bigger the name is the more lucrative and attractive they are for cyber attackers. In the Corporate world, Yahoo suffered one of the biggest data breaches in 2014, where data about some 500 million customers was hacked and leaked online.
Why Businesses Are Victims of Cybercrime
Regardless of their location, cybersecurity attacks can impact anyone who relies on the computerized framework in their lives. Companies and individuals are often a regular target of it.
The information has turned into a key strategic resource and is considered valuable and influential is this capitalistic world. Cybersecurity has evolved from a fringe threat to a Boardroom priority where investors are needed to become aware of, in just 20 years.
For businesses, cybersecurity lapses are a part of modern-day business life. The culprits and their motive hardly ever come to light.
The average total costs of these cyber breaches have increased tremendously over the past few years, where according to the Cost of Data Breach Study, an average cyber-attack costs a company $3.8 million and it takes several days for a company to even identify infringements.
These are not isolated incidents as throughout the world, there has been a continuous rise of cyber-attacks and business seems to be the outright favorite target.
Cybersecurity — A Threat to All
Businesses are approaching towards cybersecurity rigorously, as data breaches have an extended cost towards the businesses. Not only they adversely affect the reputation of the businesses, but also take a toll on its revenues. In order to keep their name intact and to prevail in this modern day, companies are now investing in top-level cyber security which ensures data security and privacy.
We may feel that cybersecurity is just something that only tech companies, multinationals, and governments need to worry about, yet in an inexorably interdependent world, cybersecurity is an issue which has consequences for everybody — regardless of the fact that whether you own a small Dinner or giant global size business
The exploitation of Cyberspace: How Is It Happening
Regardless of the growing scale of development, the nature of threats and dangers radiating from cyberspace remains largely unfamiliar and difficult to comprehend. The reason that these cyber-attacks are so successful is that no two battles are the same.
There are patterns which can be studied and predicted. Some of the standard lines of attack involve a variety of tactics — from the introduction of malware through malicious attachments to phishing and stealing credentials. Also, orchestrating denial of service attacks on the website in order to bring it down by the sheer weight of the sudden traffic is a trend.
Threats within the cyberspace or coming from it are unique, disparate and disproportionate regarding the damage they could cause. Not only that it’s difficult to identify but it’s tough to apprehend the attackers as they could be targeting from virtually anywhere around the globe.
Loopholes in the IT System
Society’s expanding reliance on Information and Communications Technology (ICT) framework makes vulnerabilities and chances to be misused by unscrupulous individuals. The risks to national and international security are increasing.
The dangers posed by radicals using the internet whether through hacking, cyber-attacks or outright frauds are becoming more and more common, so corporations and government are spending huge amounts of money in cybersecurity projects.
Shared Responsibilities
Cybersecurity is a mutual responsibility where everyone has to play a little part.
- Internet companies are required to boost up the security of their data networks and payments system
- The government can bring about cybercrime laws and enforce heavy fines on individuals who violate them. The government can also create mass awareness and public awareness about it
- Business can ensure that they have strong security processes set up and keep a strict check on its employee and restrict access to third-party vendors and suppliers who pose a risk to data security
- Individuals can ensure they have unique and strong passwords
The Wrap Up
The cybersecurity is still in its infant stage and with time it will only grow stronger. However, the threats will also become smarter and would require constant reinvention and monitoring. It is a part of a long-term strategic approach to investment that requires awareness to be made about it because cybersecurity is here to stay.
