Why cybersecurity needs to be a priority

Why cybersecurity needs to be a priority

Your business is facing more cybercrime than ever before. When crime was limited to your local area and the criminals near there, you didn’t have to worry as much about having information stolen. Now, any criminal in the whole world that wants to attack you can and will try to steal from you. That is why it is so important that you have made cybersecurity a priority in your business. The Motley Fool lists some facts about security that will make you think about getting a better online security system in place. They are as follows:

Cybercrime doubling each year: From 2014 to 2015, the number of personal records that were exposed through cyber crime more than doubled, increasing from 85.6 million records in 2014 to 177 million records in 2015. This is likely due to the fact that more records are being stored in cloud servers that have not been secured properly and the number of criminals is increasing exponentially.

Healthcare sector and government are big targets: If you own a business in the healthcare sector, you need to be extra careful. Over half of those stolen records came from the healthcare industry. The government was another huge target at about 20 percent. Educational institutions weren’t a huge target and only accounted for 0.4% of those stolen records. This is likely due to the amount of sensitive information normally being stored at in healthcare and government.

Costing companies millions of dollars: The average company loss per cyberattack last year was $7.7 million, which is something your company likely cannot afford. Losing personal information is going to cost you customers as well as potential government fines depending on your industry.

Attacks to avoid: There are types of attacks more common than others. In fact, 96% of attacks were due to web app attacks, cyber espionage, payment card skimmers, point of sale intrusions, crimeware, denial of service attacks, web app attacks, miscellaneous error, and insider misuse. If you can protect in these specific areas, your likelihood of getting attacked on a large scale will decrease drastically. These are the things that IT Management companies will focus on to ensure your safety.

External threats the biggest problem: Over 80% of attacks start externally, which means that you need to work to ensure you have the correct firewalls and malware programs installed at your company. It also means that some inside education can help protect your company from within.

Nobody feels prepared: It seems that not a lot of companies really feel prepared for a cyber attack. Some of the largest companies out there have voiced their concern, which is fair since these types of crime often go unnoticed for over 200 days, which means there is a lot of time to steal private information.

A fairly new industry

Most companies that are working in cybercrime and looking to find ways to protect against it are fairly new. The crime itself is fairly new, which means protecting against it and ensuring business safety is a new kind of idea. This is why people who work in the industry are often young and just coming out of college. They have the best idea of what is going on and know exactly how to protect against it.

Given how new the industry is and how many criminals there are out there stealing information, it makes sense that you’d want to put a lot of work into ensuring you have a strong cybersecurity system in place to protect against it. It also would explain why governments all over the world are now working together to find better solutions to protect themselves and the businesses in their countries. If you don’t have a great security system in place yet, it is very important that you call your IT Management company to get your current system assessed and updated.

Source: Motley Fool

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