An analysis done by DataReportal showed that approximately 63% of the world is online; 5 billion people currently use the internet and the number of internet users continues to grow significantly. People are becoming increasingly reliant on technology and the internet, explaining why technology is undergoing immense growth and development. It is impacting every aspect of human life. While all these gadgets and internet protocols have made life easy, convenient, and fun, they have also introduced people to the most significant threat of the internet – cybercrime. You need to invest generously in cyber security to protect your electronic data and information from cyber-attacks.
What Is Cyber Security?
Cyber security refers to technologies and protocols established to defend and protect the digital interests of nations, cities, companies, households, and people. The technical discipline of cyber security protects electronic systems, networks, digital data, and other necessary computing resources, including computers, servers, cell phones, social profiles, etc., from malicious attacks, scams, breaches, theft, and terrorism.
Every new piece of digital data you enter into an online network creates a point of vulnerability hackers can target. For cybercriminals, nothing is off-limits once it’s online. Resources and knowledge of cybercriminals have also developed with the rapid advancement in technology, making cyber security a glaring concern for all. Here are eleven reasons investing in cyber security is essential in 2022:
1. Everyone Is Vulnerable To Cyber Attacks
Computers and internet networks have evolved from a privilege to a basic necessity; billions of people go online for work or pleasure every day. These factors explain why various cyber security challenges have become increasingly common today. As a result, regardless of their demographics, every person has become a target of cyber attacks due to their reliance on digital connectivity.
2. A Surge In Digitization Directly Boosts The Rate Of Cyber Crime
According to Statista, an unprecedented spike in data traffic was observed post-Covid-19. In addition, when the US government imposed a nationwide lockdown, education, office work, communication, entertainment, and other in-person activities went online. This heightened need for digital connectivity coupled with the ease of technological convenience resulted in a boost in the rate of cybercrime.
3. A Boom In E-Commerce Paves The Way To Increased Cyber Threats
Several businesses have launched e-commerce sites, allowing consumers the luxury of shopping online from the comfort of their homes. However, you need to share sensitive personal information like communication details, addresses, credit card information, etc., with online sellers to engage with this facility. With information readily available online, more hackers are interested in causing significant information spillage by conducting security breaches and other cyber attacks on the e-commerce sector.
4. Cyber Crime Remediations Can Be Extremely Costly
Recovering from cyber attacks of all kinds can be extremely costly. For example, following a cybercrime incident, some expenses include hiring specialists to detect the point of breach, stopping business activities and processes during the investigation, issuing penalties and fines, hiring experienced lawyers, and fixing flaws in networks and systems.
5. Cyber Attacks Can Harm Reputation
Once an organization or individual becomes a cyberattack victim, they suffer long-term reputational damage. For example, consumers lose trust in a company because it failed to protect customer data once and may turn to other competitive brands offering similar products and services. On the other hand, individuals lose their sense of self-confidence and status due to the detrimental effects of cybercrime.
6. Cyber Criminals Target Personal Lives
Cyber attacks are seldom limited to virtual harm but find their way into your personal lives. A cybercrime act can corrupt your privacy in all walks of life by risking your data online. Often, cybercriminals resort to blackmailing, exploitation, and demanding data ransom to stop the harassment. Dealing with these criminal demands can simultaneously disrupt your personal and professional lives.
7. Litigating Cyber Crime Is An Arduous Process
A business compromised by cybercriminals often faces an expensive litigation process to recover its reputation and status. Although the company is the victim in the case, it still has to deal with additional litigation costs and penalty payouts. In addition, breaches in security can drive businesses to pay hefty settlement sums to resolve cybercrime issues.
8. Cyber Crime Has Become A National Security Threat
Since the entire world is connected to the internet, cybercrime has become a matter of national security. Unprotected databases and systems can enable foreign nations and terrorists to compromise a country’s security by stealing state secrets, damaging economic functions, and harming infrastructure. All this can instill intense terror regarding economic vitality and national security. Therefore, nations need to create a stable, safe, and resilient cyberspace to defend themselves against cybercrime.
9. Widespread Availability Of The Dark Web Fuels Cyber Threat
The dark web refers to a collection of internet sites that can be accessed anonymously to conduct illegal activities. According to Forbes, dark web markets are booming due to demand for cryptocurrencies, growth in anonymizing networks, drug usage, increased cybercriminals, etc. Unfortunately, the more people venture into the dark side of the internet, the more the risk of cybercrime intensifies.
10. There Are Endless Types Of Cyber Crime
From malware to phishing to crypto-jacking – cybercrime features a significant variety. Several different types of criminals interact online to compromise your data and resources in various ways. The wide array of threats emphasizes the importance of cyber security in the current environment.
11. The Rate Of Cyber Crime Is Ever Growing
Technology is developing at a fast pace. Better gadgets, active broadband services, and improved cloud computing platforms are established for the general public’s pleasure every day. However, this development is expanding the area of fertile ground vulnerable to cybercrime activities. In today’s readily connected world, it’s hard to minimize exposing yourself to cyber attacks when network systems and devices have become irresistible.
As the world grows increasingly digitally connected, more and more users face the risk of cybercrime. Internet security statistics state that every 32 seconds, an internet user gets attacked by a hacker. The data figures have risen at an alarming rate as more and more people store their data on digital devices. Therefore, if you use the internet and have an electronic device, you are vulnerable to cybercrime. Hackers can access the amount of sensitive information you store on network systems and connected devices digitally if you fail to take appropriate protective measures.
It’s high time you build a solid defense against cyber attacks by investing in cyber security services measures. The reasons mentioned above further emphasize the importance of cyber security in the present scenario. The first step in doing so is understanding the various threats posed by cybercrime, including data theft and damage, hacking, industrial espionage, etc. Once you understand potential cyber attacks, you can better realize what protective measures you can take to safeguard your sensitive information, identity, money, and property.