Cyber threats have become increasingly prevalent and difficult to deal with since the rise of data sharing and collection by government institutions and companies. Most breached records (approximately 95 percent) have been reported from three industries: technology, government, and retail.
You can become a target of malicious activities regardless of the nature of your personal records or business. Here are ten crucial facts that you should know about data security:
- There Is a Shortage of Cyber Security Experts
With so many increasing threats related to hacking and malicious activities, it is natural that the demand for white-hacking experts will also increase.
There is a lack of over 3 million cybersecurity professionals worldwide, according to the latest report by the World Economic Forum (WEF). Thus, if you want to enter a fast-growing IT industry market and are willing to learn a new skill, you should consider this field.
Cybersecurity specialists are essential to protecting information systems. Data systems are protected against cybersecurity risks, threats, and vulnerabilities by these cybersecurity professionals who monitor, detect, investigate, analyze, and respond to security risks and attacks. Having full-time employees devoted to IT Security is now essential rather than an option.
- Data Breaches Ruin Customer Trust
We are sure that you would not like to continue with any organization that lost your SSN or credit card information, right? If any organization can not keep the data and information of their customers safe, the customers start losing trust in them and move on with more reliable competitors.
In 2018, Facebook went through such a situation. It was involved in a data breach where it shared information of its 50 million users with Cambridge Analytica. This information made the stock value of Facebook dropped by 7% in a single day, causing 43 billion-dollar losses. An information worth knowing.
- 43% of Cyber Attacks Target Small Businesses
Large companies and organizations invest in next-level security, but small businesses often overlook this issue because of a lower budget. It leads to creating a problem for such a company.
If you are an owner of such a business and can not invest much in cybersecurity, you must consider training your employees and using essential security tools. They should know about different malware and how phishing emails and similar tactics work. Teaching them how to use a VPN, antivirus software, and other security tools would help secure your network.
It does not cost a lot, and when your employee uses a tool like VPN, they make your network secure, and any person with ill intent will not be able to track their system.
- Data Breaches Can Take a Long Time To Detect
Even some tech-savvy companies like Equifax and Facebook can take over six months to identify a data breach. It takes a long time, and the hacker can quickly get away with the client’s crucial information like SSN, credit cards, passwords, and other details.
Even after the company knows that a data breach has occurred, it would be hard to track down the individual who has extracted this data. It is a reminder to people that they should change their passwords often and share their personal information over the internet only if it is necessary.
- Healthcare Industry Is Particularly Prone to Malware Attacks
Unfortunately, the healthcare industry is giving less importance to cyber-attacks and causing damage to themselves. They do not consider cyber security their top priority because they do not often deal with financial transactions.
Over 70% of the healthcare industry has been infected by malware in the last year alone. It includes health insurance agencies and medical treatment facilities. Hackers mainly aim to access medical research and personal records when they attack these organizations. These data are then sold to companies to make money.
Every Employee Is a Potential Data Security Weakness
One cybersecurity member can not maintain the data security for the whole organization. Every employee that manages sensitive data can be vulnerable to a cyberattack.
Therefore, your employees should have enough training about cybersecurity through lectures and seminars to be aware of any possible attacks that can happen by clicking a link or downloading any document online.
- Mobile Phones and Tablets Can Cause Security Breaches
Many people think that a company terminal is the only entry point to an organization’s data. But cell phones can also be the reason for the security breach. To increase productivity, companies often encourage their employees to work via smartphones or tablets while out of the office. But, any such device that lacks security gives hackers a chance to enter the data system without the user’s knowledge. Thus, smartphones and tablets must only be used over a secured network, and data should be encrypted before transferring.
- Half of the Bitcoin Transactions Involve Illegal Online Activity
Originally, people believed that Bitcoin was the new currency and would soon replace traditional money transactions. While it became extremely popular, it is volatile and has become one of the largest unregulated markets in the world.
On top of it, it is estimated that over 46% of all Bitcoin transactions involve some illegal online activity. No one can trace the criminals when the ransom is paid-off using bitcoins.
- Most Organizations Do Not Have A Response Plan
Based on so many worldwide attacks, you would think that most organizations and companies would have a Cyber Security Incident Response Plan in place. Sadly, that is not true.
Over 77% of organizations do not have a plan. On top of this, 54% of organizations have been through one or more cyber attacks in the last year. Based on these facts, it is evident that a response plan is required to mitigate the resulting damage.
- Human Intelligence and Comprehension Is the Best Defense Against Phishing Attacks
According to Cofense, the best way to protect your business against some of the most common hacking methods is to understand user behavior. Thus, human intelligence and comprehension are the best defense against phishing attacks.
- Since COVID-19, the US FBI Reported a 300% Increase in Reported Cyber-crimes
Till the mid-2021, US FBI has reported over 12,377 Covid-related scams. Undoubtedly, hackers took the pandemic as an opportunity to attack vulnerable networks as office work moved to personal homes.