The number of active internet users and the amount of time spent daily in the cyber universe has increased significantly in the year 2020 as the result of the outbreak of COVID-19, reaching 4.66 billion people (around 59% of the population) as of October 2020. And unsurprisingly, it is estimated that in 2021, we will see higher growth in the number of people who surf the web daily. Schools, Offices, Companies, Universities, and a lot of other places are closed down because cities are under quarantine, leaving people with no choice other than to work and taking their classes online. Read More to find out the Importance of Cybersecurity.
Consequently, people are spending more and more time on the internet, where, as we covered in our previous articles, a vast variety of cybercrimes occur thousands of times every day around the globe. Based on reports, it takes around 6 months for companies to notice a data breach. Researchers suggest that most businesses take up to 197 days to notice a breach of their data.
Because of the amount of time it takes for companies to spot a data breach in their systems, attackers can gain even more information during this time. Just imagine what a cybercriminal can obtain over 6 months. Shocking statistics like these are why using Cyber Security and taking proper precautions are more important than ever before; they should be considered a necessity in 2021 and beyond.
In our last article, we introduced different types of Cyber Security and explain how they can help us prevent cyber-attacks and keep our computer systems safe and secure. However, looking at the cost of Cyber Security software programs might leave some people hesitant. After all, none of the security software programs come cheap as programs such as Anti-Virus require annual payments for activation and use. Thus, one might wonder whether it makes economic sense to invest in Cyber Security. Is it really necessary to use Cyber Security to protect our devices? Do we need them?
The answer to the above questions is: Absolutely Yes. Even if you are smart with how to use computers and take every precaution to avoid getting infected by a virus or malware, it is still essential to use a proper set of Security Software programs to stay fully guarded. Without Cyber Security, all of your data is at risk, including your accounts in different websites, money, private images, family video captures, bank account information, and much more.
So no matter how costly it might sound, your safety and privacy shall come first. For personal devices, you can easily counter a lot of threats by having activated Anti-Virus and Firewall, creating strong passwords, and avoid tactics of Social Engineering. Keeping your data safe and secure and staying clear of becoming the victim of cybercrime is definitely worth the price and effort. These procedures can also give you peace of mind.
The Importance of Cyber Security for Corporations
And from a business perspective, the importance of using Cyber Security is even more significant. Naturally, companies and organizations have much more sensitive data compared to personal computers, and the loss of money is the least among various cybercrimes that could happen to them. For starters, their reputation and career are on the line when it comes to business; a virus can simply expose their clients’ data or sends unsolicited emails to their contacts in an attempt to spread the malware further.
Moreover, in most cases, cyber-attacks can down a company’s networks and prevent them from working, which not only costs them time and money for fixing the problems but also results in financial losses of having their work and projects delayed. And sometimes, these attacks can ruin these companies’ years of hardships and developments by leaking their secret data and putting them into the hands of the competitors.
Recently, we had so many leaks of information in the video game industry. Companies’ plans and their engines’ codes got leaked online which possibly led to massive financial losses. The data that was stolen included these companies’ plans, upcoming games, new projects, and more. These plans were supposed to have a proper reveal in a suitable time and significantly increase these companies’ stock value.
Financial losses aside, this unannounced content was simply not ready to go public. And engines’ codes getting leaked just exposed the game-development accomplishments of their years of hard work and experiences to everyone. In these situations, like things are not bad enough, cybercriminals start threatening and blackmailing companies for huge amounts of money to stop leaking their data even further.
A good example of these types of incidents that took place this year is the data breach that happened to Capcom, the popular Japanese video game development company. In November 2020, four years of Capcom’s plans were leaked online as the result of their servers being hacked by cybercriminals. Every item in that list was supposed to be a surprise and bring excitement to their fans.
And sometimes, the content and the story of unreleased games, that was developed by hundreds of people for three or four years, are leaked over a night! In situations like this, that game’s spoiler content would be spread all over the internet in less than a day; something that can lower their sales figures and damage their reputation. Naturally, this can also anger fans and gamers since a lot of them wanted to experience the game by themselves rather than accidentally reading or hearing spoiler content on social media.
Cybercrime; More Dangerous Than Ever Before
As you can see, cybercrimes can happen to all sorts of companies in any industry. Based on studies, Cybercrime is the fastest growing crime in the United States, and analysis suggests that cybercrime damages will exceed a staggering $6 trillion globally by 2021. With statistics like this, it is very crucial for big organizations such as governments, military agencies, banks, hospitals, or tech companies, which store unprecedented amounts of data on computers and other devices.
These data contain sensitive information, intellectual properties, financial data, and personal information; therefore, any unauthorized access or exposure could have severe consequences. However, proper sets of Cyber Security programs provide the disciplines dedicated to protecting this information and systems.
A decent cybersecurity system ensures that shared data is kept secure and helps companies reduce the risk of falling victim to data theft and sabotage. Cyber Security software programs are like security guards at the gate, who prevent unwanted people from entering. Prevention is always cheaper and much more effective than cure. Therefore, it only makes sense to pay for the small expenses of Cyber Security programs rather than facing massive financial losses and spending a lot of time and money repairing infected machines.
With more systems becoming digitized each year, organizations and individuals have become more and more vulnerable to cyber-attacks. It is estimated that cybercrime costs the global economy over $400 billion per year. As the result, all corporations around the world are investing in cybersecurity infrastructure to protect their business practices and the millions of customers that trust them with their data. Cyber Security has simply become one of their top priorities for the upcoming years, and they are setting up standards for cybersecurity protocols. And if you have not done anything for the security of your company or even yourself so far, 2021 is the year that you have to enter prepared.
The sad truth is that we do not read or hear enough about the cyber universe and all the various types of dangers it holds. Celebrities’ private images getting leaked might pop up in the headlines from time to time but cybercrimes are much more serious than that. They occur a lot more than most people think and leave terrible effects on everyone’s lives. They can ruin people’s reputations and sabotage businesses, and it is very important for us to understand these dangers and do everything possible in our hands to defend our safety and data. Hopefully, these three parts of our article were able to shed some light on the dark uncharted dangers of the cyber universe.
In the end, we strongly recommend that whether you are a businessman or a personal user, try to secure your devices with proper Cyber Security to prevent yourself from any cyber-attack or malware infection. We sincerely hope that you never end up being the victim of these cybercrimes. Hopefully, one day we will see considerable decreases in the number of data breaches and committed cybercrimes. Until then, stay safe and secure.