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The Importance of Cyber Security


By NIIT Editorial

Published on 10/03/2021

6 minutes

The internet has subsumed the globe and with its uncontrolled, and pervasive user reach, organizations are transmitting more data than ever through the world wide web. This data transfer if left unchecked could be a cause for worry with branding repercussions and financial damages mounting in millions. Following strict cyber security norms is not a choice anymore but a mandate. 

 

Imagine for instance the user-end damages inflicted by malware such as the Ransomware attack a.k.a WannaCry, that proliferated and locked thousands of customers out of their devices. This incident in 2017 caused financial losses worth $4 billion back in 2017. With the technology behind these attacks getting sophisticated, the frequency of the attacks is bound to increase.  

 

The Growing Importance of Cyber Security 

 

The pandemic left millions locked in their homes operating from digital devices for the best part of their day. Consequently, the frequency of phishing attacks went up during the last year. But those weren’t the only kind of attacks that were spotted on the radar by federal authorities. Spyware, ransomware, worms, bots, and trojans equally bombarded innocent people with discrete methods to capture and exploit personal information. 

 

Distributed Denial of Service (DDoS), Denial of Service (DoS) attacks, Man in the Middle Attack, and ICMP are a handful of other means through which cyber attacks have been framed on people. 

 

Measures to Take

 

Artificial Intelligence and Machine Learning don’t cut slack for organizations that operate in the business of mining user data. They are capabilities that are available for street smart, maleficent actors as well. The only catch is to stay a step ahead of such hackers and to be prepared in advance for times when things go south. 

 

Just like our biological bodies, computers need antivirus protection. Such software identifies, isolates, and eradicates such data-probing viruses before it gets too late. Not undertaking such measures can be lethal to an indescribable extent. The following types of losses are just a couple that could transpire as a result of a fall-out from a hack: 

 

  • Negative Publicity 
  • Loss in employee morale 
  • Financial Losses 
  • Customer churn 
  • Legal ramifications 
  • Critical user data being made public

 

What to do? 

 

Whereas different industries need to set their standards in regards to cyber security, we have starting points to begin with. NIST, the National Institute of Standards and Technology has shared its framework for securing information systems. It begins with identifying risks that exist in the current system. 

 

Thereafter, the IT wing must lay out a plan to procure and implement the necessary protection measures to curb the issue. In parallel, there must also be a team that ensures routine security audits to spot doubtful cyber occurrences. Eventually, you respond and restore the systems to their normal levels of efficiency. 



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