In the modern era, headlines about corporate data breaches have become an almost daily occurrence. Often, when the word cybersecurity is mentioned, images of hooded silhouettes behind laptops while connected to the dark web are often evoked. Sadly, those images aren’t necessarily very far off.
Due to the growing prevalence of e-commerce platforms and the inter-connectedness of major corporations around the world, hackers today are able to leverage the power of the internet for financial gain. Whether by exploiting weaknesses in a server’s firewall or capturing keystrokes on a consumer’s mobile device, hackers are able to hijack a plethora of information they ultimately shouldn’t have access to.
Ruthless hackers employ a multitude of methods to steal consumer passwords and private data from social media sites or company secrets from cloud data storage solutions. For all kinds of firms operating in every industry, keeping corporate and consumer data safe presents an ever-evolving challenge.
So, what is cybersecurity?
Cybersecurity encompasses all the technologies, procedures, and policies that protect computing systems, IT infrastructure, and digital forms of information. In an age where the majority of conducting business and conducting our daily lives takes place online, the need for sound and robust cybersecurity programs has grown exponentially.
Why cybersecurity is so important?
The hacking of organization and consumer data from private firms is not the only threat. When data breaches occur, they can also damage the relationships between consumers and the corporations who serve them. Even further, those breaches place incredible legal and financial liabilities upon the shoulders of those enterprises whose systems have been compromised. With new technologies ranging from self-driving cars to Internet-powered “smart” home security systems, the dangers of cybercrime are becoming a more serious threat.
Perhaps, now, the need for an effective cybersecurity solution is more apparent as something that no one today can afford to ignore. If you’re not already concerned about cybersecurity, you should be.
The Rising Trend of Cybercrimes
Due to the worldwide increase in the use of technology to drive daily life, the growing population of unscrupulous individuals and state actors enjoys a vast hunting ground. Through a combination of tactics including social engineering (phishing, spear phishing, malware, ransomware, and good old-fashioned misrepresentation), those with malicious intent have gained access to and capitalized upon an ill-prepared and unsuspecting audience.
How to Best Confront the Cybersecurity Threat
So, bearing this information in mind, how can businesses best defend their sensitive internal information and that of their customers from cyberattacks? The answer comes in the form of awareness and a comprehensive cyber solutions program.
Due to the rapid evolution of technology and the way it is used, it is no longer a realistic expectation to think that an IT department alone should be able to mitigate every cybersecurity risk out there. Even with the amount of publicity cybersecurity is seeing today, many of the cybersecurity threats today come from social engineering efforts taking advantage of user error and web browser exploits.
See beyond anti-virus software
Though anti-virus software is still an integral cog in an effective cybersecurity protocol, it is not enough to protect against modern threats by itself. Technical teams require support from decision-making leadership, funding, resources, and access to external solutions. While some of those factors can often be costly, they are still more cost-effective than the aftermath of a cyber attack or data breach.
Cybersecurity Liability Insurance
Cybersecurity Liability Insurance is one of the most rapidly expanding fields within the insurance industry. But it’s important to know that while this type of insurance can protect your organization in terms of financial risk, it also helps to remediate the adverse effects on your brand’s image and customer relations following a cyber incident.
In a 2019 report, the World Economic Forum ranked cyber-attacks as the top risk for businesses in both North America and Europe. One could argue that cyber-attacks are the top risk for companies across the globe. No matter where your organization is located in the world, there will be those who will try to exploit your technology weaknesses. A robust cybersecurity program helps to level the playing field between you and them.
Looking for more information about Cybersecurity solutions and services and how they can help protect your organization? Find it here.