Is your organization data safe from cybercrimes/cyber security?

By: chrisalbert
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What are cybercrime and cybersecurity?

Cybercrime includes all the activities that harm anyone such as identity theft, fraud, online scams, and attacks on your computer systems or websites. It is also known as computer crime which involves using computers and the internet to break the law. Whereas, cybersecurity deals with protecting your technology and information from accidental or illicit access, corruption, theft or damage. Cybersecurity is an ongoing journey in your business and requires to be a part of our day to day business practices.

What is the risk?

Cybercrime puts your money, personal or official information, technology and reputation at risk from a cyber-attack. Simply put, the nature of data could be customer records and personal information, financial records, business plans, new business ideas, marketing plans, intellectual properties, product design, patent applications and employee records.

Possible threats to business

Cyber attackers or criminals could be an individual with an intention to harm your data or a group of people involves in series of such malicious activities, always finding next target on their go.

–    The criminals could be anyone who is primarily out for financial gain or information usually attempt to illegally access your hardware and data or disrupt your business.

–    Your clients – the people you do your business with – with the malicious intention to harm your information.

–    Competitors of your business – any competitor with a lethal and wicked aim to gain an advantage over your business by damaging it from inside.

–    Existing or ex-employees – these are the people who have an idea how your business works and can harm the most – by mistake or plan they have the ability to compromise your information or data.

Potential expected losses

–    The first and foremost threat to anyone – financial loss; it could be done in the simplest form such as theft of money, stealing or leaking confidential information or worst case scenario disruption to the business.

–    Something irrevocable like business related loss which pertains damage to repute, damage to terms; affecting other companies you do business with.

–    Greater costs for your businesses than usual which can be done by slightly changing in your systems or getting the affected systems up and running.

–    Investment loss – time notifying the relevant authorities and institutions of the incident.

How can we protect our business?

Here are some tried and tested tips from experts on how to protect your businesses from losses:

–    Develop strong policies and measures for both the business and existing and former employees.

–    Plan the security procedures that have been put in place on how to protect the systems and to secure information assets.

–    Produce a cyber-security incident response management strategy in order to sustain the policies and actions.

–    Train new and current staff about the newly introduced cybersecurity policies and procedures and aware them about the steps to be taken if a cyber-threat or cyber incident takes place.

–    Even better and safer to keep all the computing devices, everything online such as websites or blogs and Point-of-Sale (POS) systems vigilantly up-to-date with all software issue updates or patches.

–    Also, ensure all the crucial and sensitive data is being constantly on back-up along with the information on a regular basis to minimize the damage threats in case a breach occurs to your systems.

The bottom-line is

It has been predicted that cybercrime will reach $2 trillion by 2019. If you are thinking about human errors or system fault – 48% of data security breaches were caused by the malicious intentions which put all the given benefit of doubts at rest. The solution lies somewhere ineffective cyber management which includes conducting regular risk assessments, suitable staff training, application of the right IT systems that counts firewalls and antivirus, explicit insurance cover and liability management in terms of third-party contracts. Having a good internet connection like charter spectrum is highly recommended which works as a backbone while fighting and securing against cybercrime.

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