Home Business Insights & Advice Cyber security: a business risk or an IT matter only?

Cyber security: a business risk or an IT matter only?

by John Saunders
29th Oct 19 5:43 pm

In today’s modern era, technology has been deeply embedded in all aspects of our lives, from daily household chores to essential day to day businesses. With the increasing trend of our dependence on technology it exposes us to a newer and more harmful danger, cyber crime. Many ways to counter cyber crime have risen in the form of cyber security and it has become essential for people to set up counter measures towards cyber crime.

Back in the day IT experts alone would be given the task to deal with cyber security, but with the passage of time the number and intensity of threats have grown putting everyone at risk. Businesses have hopped on to the bandwagon of digitalization and almost every business deals online. From small retail stores to large banks conducting online banking, data of all types are uploaded online. Business owners are at a huge risk for not setting up any form of cyber security. It was recently reported that small firms suffer close to 10,000 cyber attacks daily, a troubling aspect for new and upcoming firms.

Types of cyber crimes

Cyber attacks can come in any form, one of the most common being phishing. Criminals disguise themselves as legitimate companies and via email scam other businesses and rob their valuable data. The data stolen can be private financial records, whereas in other cases it can be the personal data of their users. This puts the businesses at risk since their customers lose faith and trust in them and it ultimately leads to a huge loss, something all companies fear and avoid. Along with data breaches and data destruction the productivity of the victimized business is halted and the number of users drop drastically.

Hackers are adapting to the changing times

The increasing number of online and digital threats make it harder to keep track of what is going on within the companies data servers. With the rise of advanced hacking technologies, a number of experienced and professional hackers are able to infiltrate the market and disrupt the daily businesses of companies for their own personal gains. This happens at a global scale and the more a business is digitized, the more vulnerable it gets to potential threats.

With numerous access points for a hacker to access, such as mobile phones, laptops, smartwatches and all devices which connect to the internet, it becomes much easier for the hacker to obtain all data and information about one’s business. Companies which don’t take any measures towards cyber security put themselves at severe risk and it also damages their reputation as a credible business. More and more users are becoming aware of the threats posed by cyber crime and cyber security is becoming an important factor for customers to consider while investing in such businesses.

Cyber security – definitely not just an IT matter

Cyber security is by no means just an IT matter, it poses a huge business risk as well. Companies must take countermeasures to deal with this, which include training their employees and educating them on how to set up passcodes for everything. Employees should also know which websites are safe and which could contain malicious software, these should be avoided at all costs. A fast and reliable internet connection would also be needed to deal with matters promptly, and satellite internet is becoming a very popular choice. Here are some of the best satellite internet providers if you’re interested.

Ultimately, to keep up with the digital age, it is not only crucial but essential as well for business analysts to consider cyber crime as an important risk when setting up a new business. The threats won’t go away, they will keep on increasing with time and it is always safer to consider setting up means for cyber security.

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