It is positively undeniable that the continuing advances in the Internet have had a profound impact on both our personal and our professional lives. It has become easier and more convenient than ever to connect with people all around the globe in new and innovative ways, from social media to live video and everything in between. From a business standpoint, this has also yielded remarkable opportunities to serve your existing customers better and to reach new customers more effectively.
However, as you are likely very keenly aware, there is always a price to be paid. Not a day goes by that we don’t hear about yet another malicious virus circulating around the web or yet another hacker group attempting a DDOS (distributed denial of service) attack. Cyber attacks are everywhere and businesses of all sizes need to be paying more attention to their cyber security efforts.
A great report and infographic were posted on Business Insider earlier this year, explaining why cyber security is so important and why it will continue to be such a pivotal area of focus in the years to come.
The infographic, which was put together by BI Intelligence Senior Research Analyst John Greenough, explores several areas related to cybersecurity now and moving forward.
Think about it this way. As we put more data up on the web and as we get more devices that connect to the Internet, cyber criminals will have even more incentive to perform their nefarious acts. There may have been a bit of a leveling off of total US data breaches between 2014 and 2015, but the upward trend is obvious enough. For this reason and more, organizations and brands around the world are investing more time, money and resources into cyber coverage than ever before, to make sure they are protected from not only future attacks but also liabilities as well.
Remember that everyone is at risk here. If you use Dropbox, Facebook, and Gmail on your smartphone, you are at risk. If you receive payments from your small business customers over the Internet, you are at risk. If you are a government organization or an international mega-corporation, your data centers are at risk.
According to the BI Intelligence report, which cites information from Raytheon’s Ponemon Institute, the five biggest risks to cyber security and the most threatened by cyber attacks are as follows:
The Internet is a wonderfully powerful place, but it is also incredibly vulnerable to attack.
With all of these potential threats, businesses and organizations are significantly ramping up their cyber security efforts. It’s estimated that some $665 billion will be spent on cyber security initiatives between 2015 and 2020. According to Symantec, vulnerabilities were found in about three-quarters of websites around the world. That’s a very large proportion.
And, as mentioned above, this certainly is not a concern only for large corporations and government organizations. Indeed, small businesses are actually at much greater risk of cyber attack. This is because a proportionately larger part of small business worth is derived from the information it owns. If the hacker can steal that information, the direct worth of that small business is immediately diminished.
But if companies and enterprises want to invest more in cybersecurity, where should they be directing their resources? The Vormetric Global Insider Threat Report indicates that these five areas are where organizations are spending or plan to spend their money.
Even though employees are the most cited source of data breaches, they’re obviously not the only ones to blame. A leaky infrastructure becomes a more likely target. Literally, millions of personal records are exposed each year.
Some of the more notable cyber attacks in recent memory include:
With rising fears of cyber attacks and the increasing need for better cyber security measures, what can you do to protect yourself from such attacks? While no solution will ever be 100% comprehensive, there are a few basic steps you can take.
Utilize two-step verification/authentication wherever possible. Use secure and unique passwords with every service that you use. Make sure that all of your online databases and data are suitably protected against attack. Keep regular, redundant backups of all your data in different locations in case any one of them is attacked. Be extra careful with any personal information you share online and how you choose to share it.
And above all else, realize and recognize that anything, everything that you upload to the Internet at any point, even if you delete it anytime thereafter, is vulnerable to attack and theft. If it’s ever been on the Internet, it’s forever and could be exposed to all to see.
My name is Zac Johnson and I have been an online entrepreneur for the past 18 years and blogger since 2007. This is my personal blog and I welcome you to the site. In full disclosure, it is safe to assume that I am benefiting financially or otherwise from everything you click on, read, or look at while on my website.
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