IMPORTANCE OF CYBER SECURITY
1 – CYBERATTACKS AFFECT ALL PEOPLE
On this article you will learn IMPORTANCE OF CYBER SECURITY AS CYBERATTACKS AFFECT ALL PEOPLE. Cyberattacks are now so common, recent reports show that hackers attack a computer within the US every 39 seconds! Once an attack happens many people might be harmed. State-run organizations are often pack up, services can’t be provided to citizens. Case in point, the town of Atlanta was attacked using the infamous SamSam ransomware. The attackers asked for a ransom of $51,000. The SamSam ransomware was so harmful that the town of Atlanta was offline for five days. This caused several significant citywide operations being halted. It ended up having a recovery cost of $17 million. Businesses face over 4000 hacks every single day using ransomware alone. Cyberattacks can happen on a worldwide scale also with hackers breaching government organizations.
The National Cyber Security Centre (NCSC) warns businesses and citizens that Russia is exploiting network infrastructure devices like routers round the world. The aim is to get the groundwork for future attacks on critical infrastructure like power stations and energy grids. It is such a threat that nuclear plants are often attacked causing a nuclear disaster with many lives lost. In Iran, one among the nuclear facilities were attacked by a malicious computer worm, Stuxnet that ruined one-fifth of Iran’s nuclear centrifuges. These cyber worms caused centrifuges to heat up and should have caused an explosion costing human lives.
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2 – THE FAST CHANGES IN TECHNOLOGY WILL CAUSE A BOOM IN CYBERATTACKS
Faster speed of broadband service. With the arrival of 5G network. Consistent with The Brookings Institute, “5G networks thus create a greatly expanded, multidimensional cyberattack vulnerability. It’s this redefined nature of networks—a new network “ecosystem of ecosystems”—that requires a similarly redefined cyber strategy.” Further stating that the rise in cyber vulnerabilities of software, it might be difficult to retool how organizations would secure the foremost important network of the 21st century. Better technology which will automate the cyberattack. The advent of recent technologies like IoT is exponentially increasing the amount of connected devices to the extent that there’ll be around 200 billion connected devices by the top of 2020. Cyber warriors are increasing their knowledge while hackers can now utilize AI and machine learning to trigger automated cyberattacks which will easily compromise secure systems with none human intervention. These automated cyberattacks pose a worldwide scare and may be done on a mass volume. More use of cloud computing. According to the newest worldwide market study by Canalys, cybersecurity solutions for public cloud and ‘as a service’ accelerated within the half-moon of 2019. Those deployment models collectively grew 46 percent year-on-year. The GAO Finds Cybersecurity Risks as Agencies Increase Cloud Use. Federal agencies are increasingly using cloud computing services and therefore the Office of Management and Budget (OMB) requires them to use the Federal Risk and Authorization Management Program (FedRAMP) to authorize use
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3 – DAMAGE TO BUSINESSES AND LOSS OF JOBS
There has been an influx of hacks and breaches of name brand companies in recent years. It’s causing many dollars in damages to recover the info and penalties paid through fines. Of these expenses will cause not only C level executives to lose their jobs but associates can lose their position thanks to the corporate cutting cost. Just a couple of examples are: Facebook, the social media giant had over $540 million user records exposed to Amazon’s cloud computing service. Equifax, the worldwide credit rating agency that experienced a knowledge breach that affected a staggering $147 million customers.
The prices of recovering from the hack were recently estimated at $439 Million. First American Corporation, had $885 million records exposed during a data breach that included checking account info, Social Security numbers, wire transactions, and mortgage paperwork. The UK National Health Service (NHS), which was temporarily delivered to its knees with a comparatively rudimentary ransomware attack, leading to canceled operations and considerable clean-up costs. Yahoo, the online giant that suffered a breach affecting all of its 3 billion customer accounts. Direct costs of the hack ran to around $350 Million.
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4 – CYBERSECURITY THREATS FACED BY INDIVIDUALS
Not only do nations and businesses face threats from the actions and intentions of hackers, but individuals face many risks also. Fraud may be a huge issue, where hackers steal an individual’s personal information and sell it for profit. This also puts the private safety of a private and his or her family in danger. This happened numerous occasions and many dollars lost at the expense of the victim. In other cases, the hackers use blackmail and extortion after stealing their identity and demand ransom to require no further action. This is often very true for top profile fraud cases of celebrities or people with high net worth. Hackers have attacked household camera devices just like the Ring and invade other people’s privacy. This causes major privacy concerns and hackers can speak to individuals that live inside the house, and make ransom demands.
5 – CYBER CONCERNS MAY end in INCREASED REGULATIONS AND LEGISLATION
With cybersecurity threats increasing new laws are often placed to guard the buyer from potential attacks. This is able to mean that increased regulations and legislation may soon become a reality. Harsher penalties got to be placed on perpetrators of the attack. Citizens got to be made conscious of laws passed and confirm that their businesses suits the laws. IMPORTANCE OF CYBER SECURITY