Cyber Security What Everyone Needs to Know

The definition of cyber security

Cyber security is the protection of devices, networks, programs, and data against cyber attacks through the use of technologies, processes, and controls.

The objective is to reduce cyber security risks and prevent systems, networks, and technologies from being exploited on an unauthorized basis.

Cyber security requires understanding the cyber threats facing your organization in order to implement and maintain an appropriate level of security.

You may already be familiar with terms such as “spear phishing”, “cross-site scripting”, “DDoS/distributed denial of service” and “SQL injection”, but if you’re not, read on.

Do you know why cyber security is so important?

1. Increased costs are associated with cyber security breaches

A breach of cybersecurity can result in significant fines for an organization, such as those imposed by the GDPR (General Data Protection Regulation) and the DPA (Data Protection Act). Additionally, reputational damage must be considered, since it is not a financial cost.

2.  Increasingly sophisticated cyber attacks are taking place

With attackers employing ever-expanding tactics, cyber attacks are becoming increasingly sophisticated. Social engineering, malware, and ransomware are some of the various strategies employed by attackers.

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3. Cyber security is an issue that must be addressed at the board level

Cyber security risk oversight has become more challenging due to new regulations and reporting requirements. A cyber risk management strategy must provide assurance to the board that it will minimize the risk of attacks and limit their financial and operational impact.

4. There is a lot of money to be made from cyber crime

McAfee and the CSIS (Centre for Strategic and International Studies) conducted a 2020 study called The hidden costs of cyber crime, based on data collected by Vanson Bourne, and concluded that the global economy loses more than $1 trillion each year (roughly £750 billion). In addition to political, ethical and social incentives, attackers maybe influenced by other factors.