Cyber security is an increasingly important concern for businesses in today’s digital age, especially seeing cyber attacks happen so recently to large corporations. It refers to the practices and technologies used to protect computer systems, networks, and sensitive data from unauthorised access, theft, and damage.
Cyber security is important for all types of businesses, regardless of size or industry, as the consequences of a security breach can be catastrophic.
Why is Cyber Security Important?
The importance of cyber security for businesses lies in the fact that many businesses store sensitive information, such as customer data, financial information, and intellectual property, on their computer systems and networks. This information can be valuable to hackers and cyber criminals, who can use it for financial gain, identity theft, and other illegal activities. A security breach can result in financial losses, damage to reputation, and even legal action against the company.
Some of the reasons it’s even more important today include:
Cyber Crimes Increasing Every Year
Unfortunately, no matter what their motives are, hackers are getting smarter and they are targeting businesses more and more every year. Attacks are becoming more sophisticated and with every attempt, they learn something from just so they can try again.
Technology Usage Increasing All the Time
In our daily lives, whether it’s work or personal, we are always using some form of technology. Most of our applications and data are stored in the cloud and with more technology becomes more opportunities for security breaches.
IoT Devices Being Used More & More
Increase in technology usage extends to IoT devices which also results in more opportunities for security breaches. With their advanced technologies for constant connectivity and data sharing, they are more at risk of an attack.
To prevent such incidents, businesses need to take cyber security seriously and implement appropriate measures to protect their computer systems, networks, and data. This includes using strong passwords, regularly updating software and security patches, implementing firewalls and antivirus software, and providing employee training courses on cyber security.
Examples of businesses that have been caught out recently include:
JD Sports
After a cyber attack last month, data relating to 10 million JD Sports customers may have been accessed. Online orders between November 2018 and October 2020 and all the customer data stored along with them might be at risk and they are trying to resolve it.
Royal Mail
Victim of a ransomware attack, Royal Mail had to halt post and parcel deliveries due to the risk. The software developed and used by criminal gangs with links to Russia saw attackers demand millions of pounds and claim that their data was stolen and encrypted.
In conclusion, cyber security is a critical concern for businesses in today’s digital age. With the increasing number of cyber threats, businesses must take proactive steps to protect their computer systems, networks, and sensitive data. Failure to do so can result in significant financial losses, damage to reputation, and legal action, as seen in the examples of JD and Royal Mail.
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