There are increased threats of cybercrime that are associated with businesses and organizations, with losses from such crimes going up to over 400 billion dollars. For organizations and businesses to protect critical data and their IT infrastructure, proper investment and planning in their security protocols alone will ensure that they are well protected from such attacks. Let us see 7 reasons why cyber security is so critical.
For the businesses of today, the most common point of entry which is exposed to hackers is the official website. Hackers gain a lot from successful attacks, and there are many instances in which well-backed hackers have specially targeted certain organizations. This funding and backing ensures that the hackers have access to the latest tech and tools that can be used in an attack. With that being said, every organization must be ready for a data breach at some point of time, and so must constantly update their security protocols and train their employees appropriately to be able to respond to these evolving hackers.
Hacking is no longer a dark art with little to no knowledge available. All of the tools and required information are available online, and any enterprising person can go through them and become a hacker with enough time and practice. With a lot of money in the pot for those who can hack the systems of big organizations, there is good incentive for hackers to do what they do.
When looking at the cost of breaches, they are not limited only to the actual financial loss incurred by the organization, but also extend to a loss of trust, reputation as well as they get the organization involved in legal wrangles if the data breached is extremely sensitive or personal.
It is not only the hackers that organizations need to be worried about when considering a cyber security policy, but the fact that there are tighter regulations in place like the GDPR which imply that all organizations need to start taking their security protocols much more seriously, or they could be liable to be prosecuted and face hefty fines.
With the increasing presence of the cloud and IoT devices in organizations, they provide multiple points of access to hackers, and are pretty easy to crack, when compared to traditional computing devices. This is something that organizations must take care of.
The data obtained from clients especially from governmental agencies, defense and so forth are pretty sensitive and can contain personal information, trade secrets, blueprints and other similar types of data. If these are stolen, they can put any organization in a tough spot legally.
The hackers can hide behind a computer screen in the middle of nowhere and bring an organization down to its knees in a matter of minutes. The low risk high reward scenario makes it ideal for hackers to start targeting organizations.
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