From using IoT devices to cloud migration, businesses are moving online. With such increased digital adoption, the cases of cyber-attacks are also rising. In 2021 alone, there were 270 cyber attacks per company, a 31% increase from 2020.
Cyber attacks can cost your business millions in losses, reduce your reputation among customers, and expose you to regulatory scrutiny and hefty fines. Integrating a robust cybersecurity solution that secures your IT systems from all kinds of cyber threats can combat all these consequences.
What is Cybersecurity?
Cybersecurity refers to securing your business operations from potential cyber-attacks. Training your employees to detect and respond to cyber threats, using robust network and security solutions, third-party risk assessment, privileged access, etc are a few ways to create a secure IT infrastructure.
Be it gaining unauthorized access, destroying or altering your database, or ransomware attacks, an ideal cybersecurity strategy should include different layers of protection to safeguard your business against all types of cyber intrusions. Network connectivity, applications, or cloud, your cybersecurity system should secure every level of your IT infrastructure.
3 Reasons Cybersecurity Matters
Cybercriminals are now equipped with sophisticated technologies to launch attacks on IT systems. From insider attacks and phishing to social engineering, hackers use different ways to compromise the online infrastructure of a business. Cyberattacks are no longer limited to data theft. Hackers are also attacking industrial systems to disrupt their operations.
Technology is a double-edged sword
Technologies like IoT and cloud are indeed helping organizations to enhance their business operations and drive growth. Nonetheless, constant connectivity to the internet and data sharing also make your business more vulnerable to cyberattacks.
Businesses are also automating their operations with APIs, Kubernetes, and other associated technologies. Hackers can take advantage of this hyper-automation by exploiting APIs. To prevent such attacks, you need to implement robust network and security solutions.
Cyberattacks can pose a massive capital burden on your organization as hackers demand ransomware to reopen your compromised systems. It is estimated that cybercrimes cost organizations $4.24 million per year. Many attackers are now collecting ransomware in cryptocurrencies as these digital assets make it difficult to trace their identities.