Cyber security is one of the top needs that any business can have in today’s world of digitalization where everything is going online. Companies are maintaining their system with such hi-tech cyber security that it is hard to breach. Since it’s an online world and paperless environment, so cyber security is being prime concern that if anyone who attacks the system he can get into whole of the company’s information.
According to recent research report by World Economic Forum, "90 percent of companies worldwide recognize they are insufficiently prepared to protect themselves against [cyber-attacks]" it’s either because people are not well educated or qualified enough to know the importance of cyber security system to be implemented in their organizations or since cyber security system is itself a very expensive system that is to be implemented in a company and then you also need to have qualified and efficient enough team to know and run the system skillfully. In another recent research report, around 3000 companies are suffered by cyber criminals which also costs over $400 per year. This research proves that how badly we need cyber security management system in our organizations to secure our businesses from online crimes.
Data Security and Sabotage
Data is one of the most important elements that anyone can have and in-case of business worlds, data is the only asset after investment for any company. Cyber attacks fall into two categories, data security breach and sabotage. Any breach that happens in the domain of personal data, investment, intellectual property, trade secrets, mergers and prices, information related to bids, all include in the breach of data security. Any breach in the form of denial of service attacks which results in form of bogus messages, web-services flood, disabling the server or infrastructure comes in the domain of sabotage. Companies need to up their game for making their data more secured than ever.
Unreported Cyber Crimes
Any sort of crime is a crime and should not be unheard. When it comes to cyber crime also, there’s a proper legal and investigation department for it. But according to the latest research, few of the biggest cyber crimes have been caught and punished but most of them are still unheard and have not been done anything about it. That is also not surprising given the risk to the organization’s reputation and file a case against the people who own the cybercrime system and take some actions against them. Most of the companies cyber crimes go unreported and very few o them come up with the information of their loses and get justification.
Better System, Better Security
A company must have a sound cyber security risk management strategy. Cyber security system is one of the most expensive systems that a company can have. But to have the biggest loss in future it is better and sane thing to invest in a system which can reduce the risk of greater damages. Whereas, cyber security is the expensive to have and implemented, organization also should be having qualified cyber security management team to handle the system and get better services from it. So, implementing is one part of this system but to maintain is also another part. Having skilled team and to do their trainings on every interval to keep their teams updated with the marketing trends and updated system to reduce the cyber crime risks.
Increase in Cyber Crime
Despite of great efforts by government agencies and cyber security experts for the making cyber security strong, there’s a rise in cyber crime in every interval. Its rise in being expanding due to cat and mouse game between cyber security experts and cyber criminals due to risk in online engagements. With introduction of every new technology or technical innovation, there’s a birth of cyber risk with it. Cyber criminals make sure that they are breaching every technical innovation. Migration of data to third is always at stake because cyber criminals misuse every critical information from a single target attack. Similarly, there’s a huge rise in cyber crime on mobile services. Applications, games, transaction, conversation etc. whatever been done is always monitored which can be used and threatened against anyone.
Development of Internet
Internet is creating a great impact in the digital world. Once its on internet, its forever. So, having cyber secured system in an organization is a must so all of the data is not lost misused. Whereas, internet is doing wonders by giving us a lot of information, giving us updates, keeping everyone connected, helping in collaborating and sharing documents, there, it is also not so safe from the evil eyes of hackers. Organization should have strong cyber security system and cyber security management so that all the data and information that is taken and kept on internet is secured from threats and hacks.