Categories Blog What is Cyber Security and Why is It Important? Post author By Vinith Sengunthar Post date July 5, 2022 No Comments on What is Cyber Security and Why is It Important? Home » Blog » What is Cyber Security and Why is It Important? What is Cyber Security and Why is It Important? Securing computer networks from unwanted access, theft, or damage to their hardware, software, or data is known as cyber security. Its goal is to put in place security measures to safeguard essential infrastructure and sensitive data from bad actors. The internet, smartphones, and computers have become such integral parts of modern life, that cyber security is crucial. Almost every industry on the planet collects and stores vast amounts of sensitive information on computers and digital devices. What is Cyber Security? Cybersecurity is the practice of preventing malicious attacks on networks, systems, and other digital infrastructure. It’s no surprise that banks, tech companies, hospitals, government agencies, and just approximately every other sector are making investments in cybersecurity facilities to protect their business practices and the millions of customers who entrust them with their data. Layers of protection are distributed throughout a company’s computers, programs, and networks in a highly secured infrastructure. With so much on the line, it’s not hyperbolic to believe that cybersecurity tools and specialists serve as the final line of defense between our most sensitive data and digital chaos. Why is Cyber Security Important? Cybersecurity is crucial because it safeguards all types of data against theft and damage. Sensitive information, personally identifiable (PII), guarded health information (PHI), private details, intellectual property, data, and government and industry information systems are all examples of this. Your company cannot protect itself from data breach campaigns without a cybersecurity program, making it an easy target for cybercriminals. Global connectivity and the use of cloud services like Amazon Web to store delicate personal information are increasing both inherent and residual risks. Because of widespread poor cloud service configuration and increasingly sophisticated cybercriminals, your company’s risk of a large-scale cyber-attack or data breach is increasing. Types of Cyber Threats The following are examples of cyber threats that your organization should be aware of: 1. Malware Malware is also referred to as malicious software or malicious code. Malware is a programme that is installed on a computer to compromise data confidentiality, integrity, or availability. It is carried out in secret and may have an impact on your information, apps, or operating system. Malware has evolved into the most serious external threat to computer systems. 2. Ransomware Ransomware precludes or restricts users’ access to their computers. To gain back access to a system or data, ransomware demands that you pay a ransom via online payment methods. Virtual currencies like bitcoins are commonly used as online payment methods. 3. Distributed Denial of Service (DDoS) Attacks DDoS attacks overload an online service with traffic from multiple locations and sources, rendering it inaccessible. During a DDoS attack, website response time slows, preventing access. By planting malware, cybercriminals create large systems of infected machines known as Botnets. The primary cybercrime may not be a DDoS attack. 4. Spam & Phishing Unwanted, unsolicited, or unwanted messages and emails are known as spam. Phishing is a type of social engineering that involves obtaining sensitive data. Phishing will appear to come from a reputable individual or company. 5. Corporate Account Takeover (CATO) CATO is a type of cybercrime in which cybercriminals impersonate a company and send unauthorized wire and ACH transfers. Unauthorized funds are transferred to the cyber criminal’s accounts. 6. Automated Teller Machine (ATM) Cash Out ATM Cash Out is a form of ATM fraud involving large sums of money. Cash-outs entail significant cash withdrawals from multiple ATMs in various locations. It could also include multiple ATM withdrawals. Small to moderate financial institutions are usually affected by Cash Out. Modifying the configurations on ATM internet control panels is part of the attack. Benefits of CyberSecurity Protects Your Business Reputation Data breaches can be extremely damaging to your company’s reputation. Every company in the market is vying for the client’s trust above all else. Consider this: a severe data breach can erode customer trust in your company. Before ignoring such catastrophic events, it’s essential to build a secure network and take all necessary precautions. Better Website Security A data breach could easily cause your website server to go down. The loading issues can irritate your prospective consumers and lead to a significant loss for your company. You own your website as a company owner, and cyber security devices can assist you to avoid costly mistakes. Assists in Remote Working Businesses have been forced to use Zoom calls to sync all of their processes and systems as a result of remote working and the gig economy. As a result, everyone on your team needs to be on the same page. Working at home can be calming for your workers, but it could also put sensitive company information at risk. Improved Cyber Security Posture With the right cyber security technology, your company can track all of its processes with a single click. It eliminates manual labor and streamlines your security, as well as all related processes. It also enhances a company’s cyber posture in this way. The reason for this is that you can use advanced security measures with the help of a good cybersecurity strategy. Enhanced Data Management Your product lines and marketing strategy are built on data and analytics. In any case, losing that can be the lamest scenario you can imagine. Organizations must therefore keep track of all their data to comply with data security regulations. Challenges of Cyber Security Cybersecurity is now a critical part of the country’s economic and national security strategies. There are numerous challenges to cybersecurity in India. With the rise in cyber-attacks, every company requires a security analyst to ensure that their systems are safe. These security experts face a variety of cybersecurity challenges, including protecting government data, securing private organization servers, and so on. It’s difficult to say what cybersecurity benefits blockchain systems will provide. Professionals in the field of cybersecurity can make educated guesses about blockchain. As blockchain’s application and utility in the context of cybersecurity develops, there will be a healthy tension, as well as supplementary integrations with traditional, tried-and-true cybersecurity approaches. SharkStriker as a Cyber Security Service Provider Sharkstiker Managed security services can help you enhance your cybersecurity infrastructure. It Provides Complete Strategic Defense like: 360° Approach Constant monitoring, evaluation, and analysis provide a total view of every event within your IT infrastructure. Integrated Security MDR, Managed SIEM, and Information Security, all controlled by cutting-edge SOC centers, will strengthen your cyber security posture. Complete Automation To accelerate incident response, use AI/ML functionality to automate all across the security incident lifecycle. Conclusion One of the crucial components of the rapidly evolving digital world is cyber security. Its threats are difficult to dismiss, so learning how to defend against them and teaching others how to do so is critical. It is the collection of methods, techniques, and processes used to help preserve the security, truthfulness, and accessibility of computer systems, networks, and data from cyber-attacks and unauthorized access. 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