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Cyber security is about protecting individual computer systems and networks from cyber-attacks. It involves best practices and technology to prevent security breaches.

Don’t think you need to concern yourself with this? Take a minute to read these cyber security statistics you should know. They will help to change your mind.

• Security professionals predict cyber criminals will cost their victims $10.5 trillion by 2025. One reason you should be asking “What is Ransomware?”
• The average cost of cybercrime events and data breaches in 2021 was $4.24 million.
• Spending on cybersecurity practices like training will reach $10 billion by 2027.

Convinced protecting systems from cybersecurity risks is important? Read on to find out what you need to know about them. This blog will answer questions like: “What is cybersecurity?”

Looking for a career in the field? Here are some labor statistics to mull over.

What Is Cybersecurity?

Want to keep your sensitive information safe when you’ve got an eCommerce business? Want to make sure that malicious software doesn’t cause unauthorized access?

Interested in making sure no one can steal data when you’re using cloud services? Then you need to learn more about how to protect yourself from a data breach. Read on to find out what you need to know about good security systems. You’ll find out about cybersecurity terms you should know and digital attacks. All good information for small business owners.

Why Is Cyber Security Important?

You need to start by understanding why these security measures are critical. Here are five reasons if you’re still asking is cybersecurity important? Keep in mind that artificial intelligence can detect threats. And prioritize them. Threat intelligence can help by processing malicious data.

Technology is Vulnerable

Statista reports the number of social media users will grow to 4.42 billion by 2025. The cloud computing market is expected to grow to be worth $832.1 billion by the same year. That’s good news. But at the same time those numbers put more people at risk of cyber attack.

Malware Hurts Businesses

Asking yourself: “What is Malware?”

Think you’re business only needs to look at advanced persistent threats from outsiders? Not so. Insider threats and external threats are both big issues. For example, one quarter of ransomware attacks will come from insiders this year.

Cybersecurity Means More Business

Companies that can protect login information, trade secrets, and customer data generally win more business. Making sure that your business can protect confidential information is important. A good cybersecurity program inspires confidence, it can protect your business reputation.

It Provides Good Website Security

A hack can steal sensitive information and install malware. The right kind of data breach can bring your website server down. That can cost your business. Good antivirus software can actually help to increase sales. And there are good password apps that can help.

Cybersecurity Provides a Safe Remote Environment.

Infrastructure security is important. Especially when you have remote workers. That’s when cyberthreats expand and security risks can multiply.

Best security features here include virtual private networks. Credentials might not be encrypted. That could lead to identity theft for remote workers. Multi factor authentication is a good feature.

Remember, an ethical hacker is on your side. They are an expert who can highlight your vulnerabilities.

Types of Cyber Security Threats

Cyber threats go after an individual computer system. Or business partners can have their network security hacked.

Here’s a list of the types of threats that destroy data. These attack smartphones, laptops and other computers.

Phishing

If you’re asking: “What is Phishing?” You’re not alone.

The goal is to steal sensitive data. Emails come from what looks like a reputable source. They want log information and credit card numbers. A user’s identity can be hacked through phishing.

Social Engineering

Social engineering attacks rely on human interaction. Criminals can engage the target by spinning a story to hack data.

Third Party Exposure

Cybersecurity threats can come from outside parties and a supply chain. Small businesses should perform a risk assessment of suppliers.

Or hire information security analysts to go over your networks security procedures.

DDoS Attacks

Distributed denial of service attacks are about flooding a network to exhaust bandwidth and resources. The company can’t fulfill requests. This type of security event often uses several compromised connected devices.

Vulnerable Mobile Devices

There was an uptick in the use of these devices in the private sector during the pandemic. Almost half of the companies in a survey reported a problem with security operations. Like employee’s downloading malicious software. And other security events with device management systems.

What Is the Impact of Cyber Attacks in 2022?

Data breaches cost critical infrastructure. Personally identifiable information and medical records can be stolen. And those are just two of the consequences.

Here are some of the other impacts.

• A number of businesses report they were attacked on a weekly basis this year. An infrastructure security agency based in the UK reports this. One in five businesses suffered negative consequences.
• Reports are saying attacks on supply chains will increase this year. Cybersecurity professionals have listed some of the common attacks .
• Application security efforts will also need to focus on the cloud. OMIGOD was a vulnerability discovered in the cloud infrastructure last year.
• Deloitte reports recovery from these attacks can take years. That’s why event management is so important. They also report 40% of the total impact is intangible. All the more reason to be proactive. And put items like multifactor authentication into play.

How Can a Cyber Attack Compromise Your Sensitive Data?

Even with a good threat response in place, sensitive information can get stolen. Data breaches happen when a hacker gets data from unauthorized access. Passwords can be read. Data that gets stored in a database can be compromised by SQL injection. Or other types of attacks.

Credit card numbers can be exposed. Likewise with session tokens, healthcare data and bank account numbers.

Websites need to have HTTPS security. And they need to use SSL.

Cybersecurity analysts or a data protection officer can help with access management. High-quality software and other intrusion detection systems are critical.

Finally, don’t forget there’s a NIST Cybersecurity Framework published by the US National Institute of Standards and Technology.

Image: Envato Elements

This article, “What Is Cybersecurity?” was first published on Small Business Trends