Why is Cyber Security Important?

Why is Cyber Security Important?

Cybercrime costs nations more than a trillion dollars a year and it’s considered the biggest threat that faces the business today. Cybercrime prevention is accomplished by continuously enhancing Cyber Security.

A study shows that the number of attacks is growing exponentially, with hacking and malware accounting for 48% and 30% of attack tactics. The likelihood that all malware will be discovered before harm is done is low, and the discovery time for an attack is, on average, 197 days.

The IoT devices, for example, that are compromised by malware can become a platform for unwanted data traffic. IoT devices compromised by malware can affect the Internet access service of both the user of such IoT devices and other users whose traffic runs over the same shared Internet links. This malware can be used to launch DDoS attacks, send spam, attack other devices on the user's network, or maliciously interfere with the user's Internet access service.

Cyberattacks motives include:

- Financial (76% of breaches are financially motivated)
- State-sponsored (Governments have quickly realised that cyberattacks are quicker, cheaper and easier than traditional warfare methods)
- Intelligence gathering (Cybercriminals are collecting sensitive information in order to extort, blackmail or gain advantage over a rival business)
- Hacktivism (The use of computers and computer networks to promote political or social change)
- Therorism (Politically motivated extremist groups and non-state actors are attacking all sort of services and business entities)

Common types of cyberattacks include:

- malware
- Distributed Denial of Service (DDoS)
- data integrity
- SQL Injection
- Snooping
- Cyber-collection, etc.

All of the above penetrate through:

- Social media platforms
- Web browsers
- Outdated infrastructure
- Unused systems
- Insiders
- Phishing emails
- Social engineering
- Zero-day exploitation, etc.

Awareness could prevent most of these attacks. Thus, through deep expertise, enhanced worldwide cyber skills, and a world-class intelligence network, and sustainability commitment, cybersecurity can be planned and defined, implemented, and ultimately respond/recover from attacks. A strategy needs to be defined, including protection, risk identification, cybersecurity culture, real-time visibility of potential threats, etc.

Perhaps the most dangerous type of malware creators are the hackers and groups of hackers that create malicious software programs in an effort to meet their own specific criminal objectives. These cybercriminals create computer viruses and Trojan programs that can:

- Steal access codes to bank accounts
- Advertise products or services on a victim’s computer
- Illegally use an infected computer’s resources – to develop and run:
- Spam campaigns
- Distributed Network Attacks (also called DDoS attacks)
- Blackmailing operations