Here are a few reasons as to why every company should be investing in Cyber Security. They are;

#1 Cyber-attacks are all over the news

Cybercrime industry has generated a minimum of $1.5 trillion revenue in 2018 globally. The cyber-attacks are becoming like an epidemic disease all over. Every industry and companies are prone to cyber threats. Everyday for about every 50 seconds a cyber-attack takes place. Financial services, Pharma industry and Oil & Gas sectors are the worst hits with about 72% attacks according to research. Cyber security is the talk of the town.

#2 Cyber-attacks leads multiple losses

Financial loss is the common denominator in determining the severity of the cyber-attack. The damages and losses actively caused by cybercriminals are expecting to be $6 trillion by 2021. It is evident that many companies would become a prey to cyber-attacks. For instance, Sony Pictures suffered a massive attack which lead to $24 billion loss and over 77 million users were affected.

“It’s a wakeup call.”

#3 Cybercrime leads to Lawsuits & Non-Regulatory Compliance

Organizations related to Healthcare and Finance are liable to protect customer information. A cyber attack in these sectors can make them non-compliant. The Data losses constitutes to numerous lawsuits and ends up being so expensive to settle them.

#4 Email servers are targeted

Cyber criminals attacks the critical systems of companies via the Email server and majorly 31% of the attacks are customised to hit the Enterprise Resource Planning system. According to research, about 65% of the cyber crimes happened on the email servers especially in Indian companies.

#5 Cloud based technology

With the evolving technology changes, cloud-based organizations are more vulnerable. According to Gartner, cloud technology are prone to cyber threats and vulnerabilities. Therefore, any organization adopting to cloud storage must put cyber security measures in high severity.

#6 Insider accomplice

In most of the cyber incident cases throughout initiates within the organization. Research says, almost 60% of the cyber incidents occur due to the employees of both current and past. However, these incidents are mostly accidental each organization must insure themselves with proper security systems within their infrastructure.

#7 Trust bridge for clients and users

Any organization hit with a cyber crime related incident then their reputation becomes questionable. The domino starts falling apart. The organization loses its clients and customers in a jiff in such scenarios. Whereas, installing essential cyber security measures and tools shall make any organization appear to be trustworthy involving data privacy.

#8 Improves SEO

Digital marketing goes hand-in-hand with the growth of any company in this digital world. In such cases, the traffic to the online shopping websites or any other websites should be managed and should be free to increase the revenue of any organization for that matter. When a data breach or an attack occurs, the website ends up inaccessible to the customers and search engine crawlers. Initiating the right IT and data security programs boosts the online business operations.

#9 Reduced exposure to threats

Smaller organizations exclude themselves from being attacked by hackers. But it isn’t the case. Every organization of any size that involves server or multiple servers located in-house or outside their prem is vulnerable to data breach at some point. Phishing is one of the hacking methodologies used to gather personal or sensitive information stored in one information system. Appropriate cyber security training to every level of employees should be in-place as users granting access to hidden malicious codes or links accidentally could lead to data breach or cyber incidents. Cyber security tools and measures are required for every enterprise – big or small.

#10 Internet of Things (IoT)

IoT is the new tradition as various appliances, security systems and data systems are automated. Smartphones, laptops, desktops, biometrics are all automated which makes us exposed to cyber-attacks. Internet of Things (IoT) has made business very convenient and also given hackers an opportunity to create loopholes.

#11 Secure online banking

The banking systems and applications could be hacked leading to online fraud or theft. Cyber security tools and financial security tools shall prevent sensitive banking data from being fetched and manipulated by hackers. Device access to be minimized by only authorised users and to maintain secure online transactions.

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