October 11, 2022

What is Cyber Security?

Being part of the digital world, it is very important to protect systems, networks, servers, mobile devices, personal data, professional data and programmes from cyber threats.Cyberattack generally aims on accessing, changing, or destroying sensitive information and extraction of money from users; or intruding normal business processes. Cyber criminals are shrewd and searching for delegate points in systems to crack and exploit. This is where cybersecurity is important. Cyber security is the act of providing defence for internet-connected devices against deadly attacks by hackers, spammers, and cybercriminals against.

Why is encryption important in cyber security?

The importance of cybersecurity increases rapidly due to the increased number of internet users with both sensitive or confidential data. Cyber threats are increasing immensely, $1 trillion in accordance to the survey (2022 Global Digital Trust Insights Survey and organizations expect risks to grow continually. The issue is made even worse by the increase in the quantity and level of sophistication of cyber threats and attack methodologies. Companies employ cyber security help procedures to safeguard themselves against phishing scams, ransomware attacks, identity theft, data breaches, and monetary losses.

This is where encryption plays a major role. Encryption protects private data and sensitive data and improves the security of communication between client applications and servers. If the data is encrypted, hackers or any unauthorized person or entity would not be able to read it. Encryption is a cyber security measure that protects private and personal information by using unique codes that scramble the information and make it impossible for intruders to read. Despite a data breach, encryption ensures the security of an organization's private information, even if attackers bypass the firewall.

Benefits of cybersecurity

  • Corporate and personal data protection against cyber-attacks and data breaches.
  • Data and Network Protection.
  • Prevent access by unauthorized users.
  • Better crash recovery.
  • Continuity of service and hence productivity is increased on a larger scale.
  • Protection of end users and end devices.
  • Cybersecurity helps in cost saving and time. Costs of data loss, recovery and downtime due to resumption of operations leads to high cost. In accordance to the Hiscox Cyber Readiness Report 2021, the average cost of a single cyberattack for small business sector at American is $25,612.
  • It earns the business reputation of the organization. Better confidence in the image of the company and the trust of developers, partners, customers, stakeholders and employees.
  • Cyber Security Purpose:

    To create a sturdy defence against potential cyber-attacks, it is important that the business, people, processes and technology are designed to work together. Cyber ​​security includes techniques, processes and methods to protect computer systems, data and networks from attack. Cybersecurity is designed so as to provide multiple levels of protection across all computers, networks and software that the organization uses. Cybersecurity systems are able to detect, investigate and eliminate potential system weaknesses and vulnerabilities before a hacker or malware exploits them.

    Major Cyber security purposes are:

  • Information Security: protects the integrity and privacy of data both during storage and transmission, unauthorized access, including inspection, modification, storage, disconnection or destruction. The main purpose is in ensuring the security and privacy of critical information, such as customer account information, financial information or intellectual property.
  • Application Security: Nowadays applications are accessed through various channels/networks and connected to the cloud. Hence the vulnerability of breaches are at a higher end. Focusing on protecting software and devices against threats, AxCrypt provides applications within applications themselves.
  • Network Security: is the practice of protecting a computer network from intruders, whether targeted attackers or opportunistic malware. It ensures in securing customer information and data, securing shared information and reliable usage, as well as protecting against cyber threats. AxCrypt reduces overall costs and protects organizations from costly losses resulting from data breaches or other security breaches.
  • Cloud Security: is all about creating secure cloud architectures and applications for businesses using cloud service providers like Amazon Web Services, Google, Azure, Rack space, etc.
  • Mobile Security: In this digital world mobile security is a big deal as more and more people rely on mobile devices. Businesses that use mobile devices have to use mobile security measures, so as to protect the data stored on these devices against various threats. This subdomain protects organizational and personal information stored on mobile devices such as tablets, mobile phones and laptops against various threats like unauthorized access, loss or theft of devices, malware, viruses, etc.
  • Common tools used for Cybersecurity measures are:

  • Identity and access management
  • Firewalls
  • Endpoint detection and response
  • Antimalware
  • Intrusion prevention/detection systems
  • Data loss prevention
  • Security information and event management
  • Encryption tools
  • Vulnerability scanners
  • Virtual private networks
  • Cloud workload protection platform
  • Cloud access security broker
  • Major Cyber Security Challenges faced:

    Being in the era of digitalization, cybersecurity becomes indispensable. The situation has worsened since the pandemic. According to a report by the ITRC’s the The number of data breaches have increased immensely in the first half of 2021 alone and still continuing to be at a higher end. Growing statistics show that cybersecurity will be a major challenge in the coming years.

    Most common cyber security challenges faced are:

  • IoT Attacks: Internet of Things is the most vulnerable threat in the present time. Every computing, digital, and mechanical device that is capable of transmitting data over an internet network are IoT like; desktop, laptop, mobile phone, smart security devices, etc. Securing IoT devices is one of the biggest cyber security challenges, as access to these devices can open doors to other malicious purposes.
  • Ransomware Attacks: As the name specifies it involves hacking a user's data and ceasing access to it until the ransom is paid. Ransomware attacks are critical for both individual and business users. Business users won’t be able to access data for their daily operations. Most of the time it has been observed, the ransomware attackers do not release information even after the payment is made, but instead try to extort more money.
  • Cloud Attack: Cloud services are used drastically for personal and professional needs. Hacking cloud platforms to steal user data is also one of the cyber security challenges for individuals and businesses. We are all aware of the infamous iCloud hack that exposed the private photos of celebrities. If such an attack is made against the company's data, it can pose a huge threat to the organization and even lead to its collapse. Hence it is mandatory to consider many aspects of cloud security and data protection to keep sensitive data protected.
  • Phishing Attack: Phishing is a social media attack used to steal user information, login credentials and credit card numbers. Hackers use it for online shopping and illegal money transfers. Google has officially released a statement about how it blocks more than 100 million phishing https://cloud.google.com/blog/products/identity-security/protecting-against-cyber-threats-during-covid-19-and-beyond emails every day.
  • Cryptocurrency and Blockchain attacks:Digital currency or wallets have become a prime target for hackers. The growth of this new technology has revolutionized physical currency, but creating many serious security challenges too. According to Fincen's report, 177 unique digital wallet addresses were used for the ransomware attacks. It is important organizations must be aware of the security issues associated with these technologies and ensure that they cannot be attacked and exploited by hackers.
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