Cyber Security for Businesses 101: Adapting to the Advancements of Modern Technology
Rapid technological developments have given tons of opportunities for exploration and become potential sources of efficiency for businesses. However, these technologies have also come with threats such as cybercrime, cyber terror, and cyberwar. The increasing number of digital applications and data networks has provided opportunities for such exploitation. Thus, business owners must pay particular attention to protecting data, programs, computers, and systems. The attempt to protect this confidential information and valuable assets of businesses is called cyber security.
In different businesses, cyber security definition varies depending on how each of them translates their needs of digital protection in cyberspace. In general, it refers to data, programs, computers, and network protection from unauthorized access, change, or destruction in cyberspace. Cyber security is a critical issue for all businesses, and in information technology-based businesses, it is a significant investment.
Why Is It Important for Businesses?
Businesses collect, process, and store a high number of confidential information on their computers and transmit the data to other computers across their networks. Without cyber security, your business must deal with the destruction or loss caused by a vast array of cyber attacks. These attacks can harm sensitive personal and business information, as well as national security.
The importance of cyber security for businesses is especially increasing considering that cyberspace has weak regulations. Also, cybercrime is now getting more straightforward and cheaper to commit. Fortinet 2013 Cybercrime Report found that to make an active botnet, one only need as little as $700 for execution. The botnet is a network of private computers with malware (malicious software). Obviously, an unauthorised person controls it at a distance. Today, it is relatively easy to buy hacking software to establish botnet or to commit other forms of crime, complete with customer support.
Cybercriminals are indiscriminate. They send attacks to businesses that have a weakness in the system and exploit it. Even, a reliable technology company like Microsoft still becomes a target of an ever-growing list of known threats, viruses, and bugs. Microsoft publishes the list of the risks, viruses, and bugs in its monthly bulletin.
Cyber security for businesses in Singapore is undoubtedly an excellent investment. A good measure must be proportional to the cyber attacks to gauge its strength. Businesses must use a fully systematic approach to attaining not only cyber security but also cyber resilience. Thus, businesses must have the support of internal departments, especially IT. Or, they can engage with a Singapore cyber risk management expert.