Cyber security: Your Next Breach – Not If, But When?

Gone are the days when businesses can assume that “Cyber attacks won’t happen to us”. From the recently launched “Ransomware Wanna Cry attack”, it has been made crystal clear that cyber attacks are inevitable and can affect not just the banks and credit card companies but any business that has products, services and customers. Today, almost every business is online in some way and produces data that has value to cyber criminals and hackers and hence every business is exposed to cyber attacks. Therefore, there is a need for businesses to understand the threat landscape and be prepared with a strategic plan in action when such events happen. Cyber security is not a matter of “if” a cyber attack will happen but a question of “how” and “what” actions companies can take “when” there will be a security breach.

Why are Data Breaches on rise?

The increased use and integration of IT systems and networks in business and corporate entities brings both opportunity and risk. As more companies incorporate cloud-based systems into their infrastructure to move processes online, the threat of a cyber-security breach and the damage it can cause is increasing dramatically. Today, all companies are dependent on information technology to some degree. Due to this, companies need to put cyber security firmly at the top of their to-do list since the threat of such a system being down directly injures the internal work of the company. On the other hand, many organisations rely on network infrastructures that are composed of older, outdated components that run the vulnerable software and thus lack cyber resilience.

In addition, data breaches are increasing due to many reasons like the scaling of edge technologies such as Internet of Things devices and mobile, losing a device which has unencrypted information and disgruntled employees.

Why Cyber Security is important for your business?

In today’s digital era, all companies gather information from various sources to understand their customers’ behaviour and serve them the best. The corporate data has become one of the company’s key assets. At the same time, it is also an irresistible target for hackers-both inside and outside the company. Regardless of the fact that organizations are already investing a huge amount of time, money and resources in fighting against cyber security concerns, cyber attacks keep on happening. In fact, cyber attacks are becoming larger, more frequent and scalable affecting even the most ironclad companies, big and small. Years ago, it was possible to ignore the potential damages caused due to cyber security breaches but today when we are digitized and interconnected across all levels, a single attack could bring down an entire business. From a significant financial loss to operational inefficiencies, destruction of trust, loss of intellectual property and customer data, a cyber attack can lead to problems that go right to the heart of every organisation.

Thus, as important it is to maintain your physical property and protect it against intruders and potential theft, so does the cyber security. Cyber crime is on the rise and hackers are indiscriminately choosing their victims. Due to either human errors or growing complexity of digital data, it has become easier for cyber criminals to breach the cyber security protection and get an access to the most sensitive information of businesses. Thus, it is very important to understand the motivation of hackers as well as to manage the various kinds of cyber attacks businesses will often see.

What should you do if your business suffers a cyber-attack?

Since cyber attacks are inevitable and at any moment it could be your organization that is the next target of cyber criminals. The key to protect yourself and/or your business is cyber awareness. Being cognizant in advance about the possible potential damages that cyber attacks can cause; you not only save hundreds of thousands of rupees but also your brand reputation that you have built as a result of your tireless efforts. Collabera TACT’s educates participants on how they can keep their vital information on the network secured. It covers the aspects of cyber law, intellectual property and cyber crimes, trademarks and domain theft. The training is designed keeping today’s need of having secured network in mind. This course is developed with the help of Department of Information Technology, Ministry of Communications and IT and the Government of India.

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