6 Reasons We Need to Boost Cybersecurity Focus in 2019
Paying attention to cybersecurity is more important than ever in 2019. But, some companies are still unwilling to devote the necessary resources to securing their infrastructures against cyberattacks , and naive individuals think they’re immune to the tactics of cybercriminals, too.
For people who still need some convincing that cybersecurity is an essential point of focus, here are six reasons.
1. The Average Cost of a Cyberattack Exceeds
$1 Million
It’s no surprise that cyberattacks are costly, but some people will
likely be shocked at the massive expenses that could result. According to a recent report
from Radware, the total costs are more than $1 million.
Additionally, victims report issues not directly related to financial losses,
such as decreases in productivity or negative customer experiences.
Based on the above statistic, enterprises should conclude that although
it costs money to invest in cybersecurity strategies, the expenses could be
more substantial if organizations choose not to put enough of their resources
toward experts and tools that minimize threats.
2. The U.S. Government Says It’s Time to Come
Up With a Better Plan
The U.S. government, as well as the authorities from other nations,
continually struggle to safeguard against digital attacks from rivals. The
challenges are so immense that government bodies and officials warn that the
United States needs an improved way
to stop adversaries.
A State Department report warned that the country is increasingly
dependent on networked information systems, and foes from other nations have
learned to exploit that dependence and use it to disrupt the lives of
Americans.
Most people who live in the U.S. can at least imagine the consequences
of a severe cyber attack that affected the country’s ability to proceed with
normal operations. Since government authorities researched the possibility and
asserted there’s no time to waste in coming up with an improved approach to
cybersecurity, that’s all the more reason to take action this year.
3. The Methods of Attack Are Diversifying
A decade or so ago, people typically felt sufficiently secure online by
installing anti-virus software on their computers. That’s still a worthy
precaution to take, but it’s no longer adequate for preventing all or even most
of the attacks a hacker might try.
According to a 2014 report, cybercriminals orchestrated 75
percent of attacks through publicly known software vulnerabilities.
But, they also try to gain people’s credentials through phishing attacks, lock
down their systems with ransomware or infiltrate poorly secured connected
devices to name but a few possibilities.
People have a growing number of ways to use technology and rely on
connected devices, but that also means the likelihood goes up for potentially
unfamiliar kinds of attacks. Focusing on cybersecurity this year requires, in
part, understanding the most recent and common types of threats and protecting
networks against them.
4. Recent Breaches Victimized Millions
Equifax and Starwood/Marriott dealt with breaches that compromised the data of well over 100 million victims. The earlier revelation about the financial costs of cyber attacks is damning in itself, but it’s crucial for brands — and consumers themselves — to recognize that data breaches can be unintentional or malicious, but in any case, they could affect millions of people.
Then, affected companies have to engage in damage control in an attempt
to restore lost trust. Even when those entities put forth the effort, they may
still find that customers behave differently following breaches.
More specifically, an April 2018
study examined the connection between consumer trust and
spending. It involved respondents giving a trust score to businesses. The
survey revealed that 15 percent of low-trust customers decreased how much they
spent at companies. But, in cases of high instances of trust, the decrease in
consumer spending was only 4 percent.
5. It Takes Months to Identify and Contain
Breaches
If a person or business has a significant water leak in a well-used
area, the problem is usually easy to spot and fix. But, it’s typically not so
straightforward with cyber-related issues.
Research from 2018
published by IBM found that, on average, it takes 197 days to
identify a breach and 69 days to contain it. Those timeframes give hackers
plenty of time to do damage that may prove irreparable. Then, once headlines
indicate how long a breach remained unnoticed, the reputational damage could be
severely harmful, too.
Making cybersecurity a focal point this year could minimize the time
spent looking for areas of concern within a network, especially if using
artificial intelligence-based strategies that learn normal conditions and give
warnings about deviations.
6. Cybercrime Is Extremely Profitable
Some criminals alter their methods once it becomes apparent that their
current wrongdoings are no longer profitable. But, that probably won’t happen
for a while concerning online-based crimes. Research from a criminology expert
published in April 2018 highlighted how the worldwide revenues from cybercrime
are at least 1.5
trillion annually.
The investigation talked about how cybercrime represents an
interconnected web of profit possibilities with blurred lines between legal and
illegal activities. If people don’t fight back against online criminals at both
personal and organizational levels, hackers will have more opportunities than
ever to continue making income while others suffer.
Failing to Focus on Cybercrime This Year
Could Cause an Assortment of Issues
This list highlights some of the most prominent reasons why it’s essential to make cybersecurity a priority in 2019. Hackers get progressively more skilled at carrying out attacks, and they can cause significant catastrophes on unprotected or poorly defended
About the author
Kayla Matthews is a technology and cybersecurity writer, and the owner of ProductivityBytes.com. To learn more about Kayla and her re
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(Security Affairs – 2019 Cybersecurity predictions, cyberattacks)
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