The Importance of Cybersecurity in Today’s Digital World

Written By Alla Levin
November 18, 2019
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The Importance of Cybersecurity in Today’s Digital World

Cybersecurity experts believe that online cybercrimes will create over $2 trillion in damages for companies before the close of 2019. Cybersecurity criminals are also expected to hijack over 30 billion private records and other sensitive data by 2023.

Business today relies on systems that can manage confidential customer data. Company leaders need to understand the importance of cybersecurity to protect this data from theft or loss.

Check this helpful guide to learn more on how to reinforce your company’s network security. Implement these steps today so that you can fight off any attacks lobbed at the business you work so hard to build every day.

What is Cybersecurity?

Cybersecurity refers to protecting your company’s online networks, hand-held devices or desktop computers from cyber attacks. These cyber-attacks try to access or damage your company’s historic files or sensitive information.

Cyber threats are an everyday threat to company owners, employees, and clients. Some threats might even attempt to demand money from you or your employees. One threat to confidential data could shut down all of your business operations completely.

Types of Cybersecurity AttacksTypes of Cybersecurity Attacks

Cybersecurity vandals are experts at releasing new cyber threats every day. Yet there tend to be similar traits between each of these methods for attacking a company’s network security. Types of cybersecurity attack variations include some of the following:

Phishing

Phishing is an example of a cyber attack where data is stolen from other online users. The data stolen includes credit card numbers or other login password credentials.

Cybersecurity vandals masquerade themselves as trusted entities. They persuade victims to open their text messaging or emails.

This messaging will often persuade the victim to click on a link or open an attachment containing malicious codes. Once the user downloads or opens the code, malware penetrates the victim’s computer.

Ransomware

Ransomware will restrict access and infect network systems. Access won’t be released unless the user pays a fee or “ransom” amount.

The user gets instructions on how to remit the ransom fee. They receive a decryption code that unlocks their system. Ransomware fees will sometimes range between hundreds and thousands of dollars.

Denial-of-service (DoS) Attacks

Denial-of-service attacks (DoS) invade a company’s network so that they can’t respond to their customer’s requests. DoS threats are a different type of threat than those that gain illegal access to confidential data. Its true purpose is to block another company from providing services to their clientele.

DoS attacks will also facilitate other kinds of network damage. The DoS ultimately shuts operating systems down and takes them offline. Once a system is down, hackers can then try to launch another cyber attack.

Drive-by Downloads

A drive-by download will install malicious viruses on an operating system without permission. This attack generally happens when there isn’t any online security installed. A drive-by-download can also take place if a company uses an outdated operating system.

A drive-by-download will penetrate network security firewalls. A drive-by-download attacks your system firewall with fragments of code that usually go unseen.

Drive-by downloads will also connect to other systems. These viruses introduce the code they need to access other systems.

What’s the Importance of Cybersecurity?What’s the Importance of Cybersecurity

Why is cybersecurity important? Cybersecurity will help both big and small companies protect their data set assets. If these companies don’t regularly safeguard these sets, they’re subject to regulatory penalties and fines. These data sets include:

Availability

This refers to whether a company can keep its services available to clients when the client needs to have it. “Availability” also relates to lost or destroyed data.

Reliability

Keeping “reliable” data means maintaining its accuracy. You can gauge your data’s reliability if your customers respond to the data in the same ways.

Confidentiality

“Confidentiality” refers to your efforts to restrict data access to only authorized employees. Certain permitted employees should have this access to guarantee the customer’s sensitive information won’t be stolen.

Cybersecurity Helpful Tips

If you’re ready to bring your business to a maximum level of protection, try these safety tips. Make sure your company is as safe as it can be.

Train Your Teams on Cybersecurity Fundamentals

Educate your teams on cybersecurity attacks that threaten businesses today. Advise them on the role they play in protecting your business’s sensitive data records. Use these educational opportunities to share more about cybersecurity myths there are out there.

There are many training resources available that can provide you examples of online communication rules and practices. One of these resources is the National Initiative for Cyber Security Careers and Studies (NICCS.) NICCS is housed within the Department of Homeland Security.

Passwords and Other Authentications

Cybersecurity Helpful Tips

Make sure you and your employees have their own strong password. Update these passwords every two to three months. You should also have a multi-factor authentication system that needs additional log-in information as well as a password.

Install Current Software on all Networks and Devices

Use updated versions of security software on all of your company’s online browsers. Current software versions can help safeguard your data from viruses or malware.

Mobile Device Procedures

Make sure that any mobile devices (i.e., laptops, tablets, phones) also contain anti-virus software. Anti-virus software safeguards sensitive data when you need to use it in a public network. Personal devices should also have individual password-protection as well.

Cybersecurity Resources

Many organizations will provide cybersecurity resource information free of charge. For example, the Federal Communications Commission (FCC) offers this Cybersecurity Planning Guide resource. The Cybersecurity Planning Guide also contains templates that both large and small companies can use to create a cybersecurity plan.

Next Steps

Download the FCC’s planning guide and templates to get you started on the road to writing your cybersecurity long term plan. With a cybersecurity plan in place, you will be able to meet regulatory requirements for providing available, reliable and confidential data.

Check to see that any mobile devices used have updated security software installed. Schedule time on your calendar to change your passwords and multi-login questions every three months.

Don’t forget to check our website for more information on the importance of cybersecurity.

Cybersecurity is an important reality for companies that use a digital environment. Put these steps into motion today so you don’t become the next cyberattack victim.

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