What is Cybersecurity?
Cybersecurity, as defined by IBM, encompasses any technology, measure, or practice aimed at preventing or mitigating the effects of cyberattacks. These attacks have the potential to disrupt, damage, and even destroy a business.
Typically, cyberattacks target sensitive data, aiming to access, alter, or destroy it. Cybersecurity applies in various contexts and are divided into a few common categories:
Network Security
This involves safeguarding computer networks from unauthorized access by intruders. Methods include the use of firewalls, access controls, and Virtual Private Networks (VPNs).
Application Security
This focuses on protecting applications, whether they are running within office premises or in the cloud. It encompasses keeping software and devices free from threats and addressing flaws in application design.
Information Security
Pertaining to safeguarding the privacy of vital organizational information, both during storage and transfer. It includes protection against unauthorized access, disclosure, alteration, or use of digital files, physical media, and even human communication.
Operational Security
This involves the processes and decisions related to handling and safeguarding data assets. It includes permissions for accessing networks and protocols for data sharing and storage.
Disaster Recovery & Business Continuity
This is defined by how a firm responds to a cyberattack or any other event that causes the loss of operations or data. It encompasses continuity planning to sustain operations in the absence of certain resources due to a cyberattack.
End-user Education
It is about building awareness to your personnel on necessary procedures and best practices to protect themselves and the company data from an attack.
Why Do Business Need It?
The threat of cyberattacks ranks among the most significant risks for organizations, especially in today’s landscape. With technology’s pervasive influence and our increasing reliance on it, cyberattacks have become more frequent.
With an alarming 83% of organizations experienced multiple data breaches in 2022 according to the 2022 Verizon Data Breach Investigations Report. Various types of cyberthreats include:
Malware
Malware is a software designed to gain unauthorized access to computers, causing disruption or damage. It is often distributed through unsolicited email attachments or deceptive downloads.
Malware can be used by cybercriminals to make money or in politically motivated cyber-attacks.
Phishing
A type of social engineering or “human hacking” tactics that uses psychological manipulation through emails, text, or voice messages to tempt or pressure people into downloading malware, sharing sensitive information, or even sending money to the wrong people. A common example are emails that appear to be from a legitimate company asking for sensitive information like handing over bank data and other personal information.
Ransomware
This malware encrypts a victim’s data or device, demanding a ransom for decryption. This type of software is designed to extort money by locking the user from its files and data with the threat of erasing it. Paying the ransom does not guarantee that your files or data will be recovered.
Distributed denial of service (DDoS) attacks
These attacks overwhelm servers, websites, or networks with excessive traffic. A successful DDoS attack can lead to financial losses and operational disruption by rendering their target organization unable to perform their operations and generate revenue.
Key Takeaways
You now know what cybersecurity is and why it is important. The next step would be to think about how you can ensure your business’s protection from potential threats. A crucial first step is to educate yourself and your staff. Majority of cyberthreats can be avoided if people can identify and correctly respond to attacks.
For more technical areas of cybersecurity, a third-party solution may be more appropriate if you’re organization does not have the right expertise. An excellent solution would be through an offshore cybersecurity team. Offshoring allows your company to access broader and better industry experience at a more economical cost. For further information on offshore cybersecurity solutions, click here or contact us directly.
References
https://www.ibm.com/topics/cybersecurity
https://www.kaspersky.com/resource-center/definitions/what-is-cyber-security
https://www.cisco.com/c/en/us/products/security/what-is-cybersecurity.html#~types-of-threats
https://www.outsourceaccelerator.com/articles/outsourced-cybersecurity-services/
https://hbr.org/2023/05/the-devastating-business-impacts-of-a-cyber-breach
https://www.checkpoint.com/cyber-hub/cyber-security/what-is-ddos/
