Cybersecurity and its Impact

INTRODUCTION       

In today’s fast-paced global business environment, Cybersecurity plays an enormous role in all parts of the globe. Cybersecurity means virtual security; it is the security we have in place in case of virtual violence also known as Cyber-attacks. The impact of threats is huge in the society. For example, almost 50% of IT employees in the United States, use their personal devices for work, that is BYOD(Bring your own device). Therefore, any threat to employees who use mobile devices is a threat to the organization they work for. In a survey conducted in United States, it was estimated that over 3million Americans lost their smartphones on a regular basis. They might be work devices or personal devices, but the information stored in both the devices had to be kept confidential. However, over 55% of smartphone users had not used a PIN code for security purposes. This leads to breach in confidentiality in many major companies. Cybersecurity is an area, where one can learn about a variety of processes for protecting business assets through policy, education and training, and practices in technology. However, Cyber Hacking is not always negative. 

DEVELOPMENT OF SECURING DATA 

There are some industries like the Government sector, IT industries, Hospitals, Banks and Energy industry, where cybersecurity and IoT (Internet of things) rises significantly. We live in an increasingly networked-dependent world. From Small businesses to large enterprise safeguarding the data through cybernetworks is no longer optional. In the early days of 1850, home security systems and electromagnetic alarms were used to secure valuables. In the year 1900, cryptography form of code making was used. In the 19th century, reinforced rooms were used for the highest level of security. In 1990, Floppy disks were introduced to protect sensitive data. In the 21st century, tokenization is a process used to protect information by transforming the original text into a form that is unreadable to unauthorized people. The techniques from early days are to safeguard the information which is stored and processed in the cloud/internet, and on other devices. As we can see, cybercrime has been occurring till this day; it is not surprising that governments and businesses around the world are searching for better cyber defense strategies. 

PRIORITIZATION FOR HIGH-LEVEL SECURITY IN VARIOUS SECTORS 

Cybersecurity is a major concern for many industries. However, IoT has increased their exposure to cyber threats, in many organizations. As electronic devices: Laptops, Computers, Ipads and Mobiles grow in use, the potential of security risk also escalates, thus new ways of securing data need to be figured out. Infact, security is the primary concern of manufacturers of these devices as this will be easy picking for hackers and marketers looking to collect data on users, and perhaps even rival companies who look to increase the leverage of their own potential clients by hook or crook. As companies explore the risk and security demands associated with IoT, they also need to consider the legal and ethical implications. Also, IoT will have the biggest impact on the Banking industry. The way we handle our money, bank accounts, transfer of money, and make investment decisions will change drastically. From cards, transactions are already shifting to mobile phones, smart watches and even thumb prints. 

For instance, there were incidents caused by Ransomware, makes us think how secure we really are. Such incidents have affected thousands of computers around the world. The problem behind the issue is professionals who failed to do the upgrade on regular basis which leads many computers vulnerable to the attack.  In a matter of hours, it has infected thousands of computers in many countries. The attempt by all professionals and business people in every industries, using computers on the other hand, still needs to be improved. 

IoT have had a tremendous impact in every industry. It’s hard to figure out which one has a bigger impact, because each serves in different manners. Clearly the IoT will not be a success unless it is properly secured. Sensitive data could end up in wrong hands and could be misused or manipulated for selfish reasons. 

Privacy is essential, virtual data stored is only accessible to authorized people; cybersecurity is the way to achieve the correct private access. There has been an increase in the number of loopholes in security and privacy, and this is where cybersecurity comes to play, but there are sensible precautions that organizations can take actions to minimize loss which helps to prevent them from harm. 

CONCLUSION 

Cybersecurity is one of the most important issues in today’s world. To overcome the cybersecurity breaches, we need the right number of resources and assistance, then it is possible to control damages, and recover from its consequences. However, I believe that Government has to reach out to the people in creating awareness of threats and how to safeguard their valuable data/files, in the society. Educating about cybersecurity, should be followed in every part of the globe. I would suggest there should be an alert message/email notification to an alternate device or email id, instead of adding their own numbers, when unauthorized access occurs. Government, stakeholders, and public’s need to put in considerable effort to reduce threats and attacks. If professional hackers are employed by organizations, they could help them to foresee future cyber threats and take measures to avoid them.