In the world of data and cybersecurity, it’s important to realize that there will always be someone behind the attempts to access data, steal information, and wreak havoc. While the government and some businesses take this very seriously, individuals, and smaller businesses tend to be too relaxed about it. This puts them at risk financially and breaches can be devastating. While you might think that taking extra security measures is a cost you can’t afford, the truth is that not taking those measures is a risk you can’t afford. Here are the top reasons why cybersecurity matters.
Cybercrimes Are Rising
As more and more individuals and businesses use the internet, store files in the cloud, and connect to data all over the world, it puts them at greater risk of being the target of cyber crimes. Each year more than 13,000 people are the targets of cyber crimes. This means that more savvy criminals are leveraging technology to commit crimes. Online impersonation, cyber extortion, and even system access without permission are some of the most common cybercrimes out there. Some of them are easier than others to commit and do not take a lot of knowledge to do. Others take a lot of skill and planning and can be more damaging on a wide scale.
Individuals are Not the Only One’s Hit
The basic categories of cyber crimes are crimes against individuals, crimes against businesses, and crimes against the government. Each of these comes with unique consequences to those who are the target of the crimes and can come with life sentences in prison if caught. Many cybercriminals are good at evading law enforcement, but special teams have been dedicated to finding the people who commit these crimes.
While most people might think of something like identity theft, there are so many more options out there for cybercriminals to steal and cause significant damage. Businesses that work with protected data or that subcontract through the government need to be especially aware of their cybersecurity protocols so they don’t put themselves or others at risk. These unique businesses will often use a NIST 800-171 consultant to ensure they meet all the right standards with their systems. Medical businesses need to ensure their systems are not only HIPAA compliant but also meet other regulatory minimums to ensure data security as well. It’s often a lack of adequate cybersecurity that puts them and others at risk.
One Breach Can Cost Millions or More in Losses
Think about the big data breaches of companies like Target and Yahoo. The Yahoo breach alone was valued at over $3 billion in losses. And with bigger breaches happening more frequently, it’s evident that they need to do something to improve cybersecurity. These breaches cause people to lose confidence in these companies and they can take a big hit to their bottom line when this happens.
Not only do they end up paying out in damages, but they also lose a lot in market share in the subsequent quarters. It takes time for these companies to earn back consumer trust. Additionally, when individuals are targeted, it can mean they take a big financial hit for years to come as they try and get everything sorted out. This can impact job opportunities and their ability to make big purchases like getting a home.
Cyberattacks Can Lead to Deaths
Did you ever think about what would happen if a hacker got into the power grid? What if they shut off an entire city? What if they messed with traffic lights? All of these are real scenarios and the outcomes can be fatal. It’s critical to keep cybersecurity on systems like these as tight as possible. While many regulations may seem cumbersome, in reality, when it comes to protecting critical systems, these measures may not even be enough to keep those with nefarious intentions out. Cyberattacks are devastating when they impact these critical systems.
Cybersecurity Protects Data and Systems
What’s important to understand is that cybersecurity is what keeps hackers, bots, viruses, and thieves out of data and systems. Using adequate security measures will ensure that these cybercriminals won’t gain access to your systems. Once this data is protected then companies, individuals, and governmental agencies can rest assured that breaches won’t put others at risk.
