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Why is Cybersecurity Important?

Why Cybersecurity is Important?

Why is Cybersecurity Important?

Cybersecurity issues are becoming a day-to-day struggle for all types of online businesses, ranging from small startups to medium-sized organizations and large-scale multinational companies. The recent cybersecurity data reveal a mind-blowing surge in the online theft and breaching of data. Besides, the study suggests that many digital brands are not taking cybersecurity services, making them vulnerable to hackers, swindlers, and cons. To make customers and employees’ data secure, companies should take strong cybersecurity measures. According to the survey, only 5% of companies’ folders are properly protected, on average.  

Do you know that hackers attack every 39 seconds, on average 2,244 times a day? It’s an alarming situation as everything is digitized in this tech-savvy world. Not only businesses but educational institutions are also on the target of hackers and cyber attackers. After the pandemic, we witnessed how traditional classroom system was shifted to the online platforms in no time. Students adopt a new form of education quickly.

Now there are chances that after the end of coronavirus, online education or blending learning may become a common practice in all educational institutions. Anything online is vulnerable to hackers unless it is properly protected. Still, many students face data breaches. For instance, students, who take the best online assignment help UK to get their assignments and homework completed, provide their personal information to the companies without knowing about their security status, ending up paying the ransom to the cybercriminals to save their identity.

Cyberattacks in education are only one example among the many. The hackers are a threat to every field, especially for businesses. Once a cybercriminal manages to attack an organization, everyone linked to that organization becomes vulnerable and at risk of losing personal information. Cyberattacks are powerful enough to close down the companies within hours. We can take the example of Adobe Hack –  one of the massive hacking incidents in history.

Why is Cybersecurity Important?

Destroy Businesses and Lead to Job Losses

Once a cyberattack happens, it can wreck the business or lead to job losses. If a company lose its clients and employees’ personal information, it will cost them millions of dollars to recover it. Besides, they also need to pay penalties, ending up firing the staff due to the company’s cutting cost. Let’s take a look at some of the critical privacy and security mishap happened in the history of cyberattacks:

In 2013, Yahoo experienced the most massive data breach in history. All 3 billion of Yahoo’s user accounts were affected; it took the web service provider three years to discover and disclose the breach.

In 2013, Adobe announced that usernames and encrypted passwords had been stolen from about 38 million of its active users.

Facebook – the social-networking giant – informed that over 540 million Facebook records, including users’ comments, likes, account names and more, were left exposed by a third-party company on an Amazon cloud-computing server.

Equifax – the US-based multinational consumer credit reporting agency – announced that private records of more than 147 million people were exposed in the data breach, making it one of the biggest identity theft attacks.

The First American Financial Corporation had accidentally exposed 885 million records in a breach, including bank account info, social security numbers, wire transactions, and mortgage paperwork.

Once again, Yahoo suffered a huge data loss in 2014. It was not on a much smaller scale than the breach in 2013, but still, it exposed the millions of accounts, including the United States government and military accounts.

Make Individuals Suffered

Not only businesses and governments face threats from cybercriminals, but individuals too. 50% of the internet users are in between 18-34 age group, indicating that most of the netizens are students and working people. The teenagers spend most of their time on the internet, surfing various websites, buy products and avail online services. For instance, whenever any student takes an interest in purchasing a product from online store or availing academic service, he or she submits the personal information (name, email, password, credit card details, etc.) to the platform. Soon after providing the data, he or she becomes vulnerable to hackers.

The hackers are always in search of the new identity. They steal the identity of the user and sell it to make money. It is their way of survival. Not only an individual’s data is at risk, but his or her family also becomes vulnerable. Not all the times’ hackers sell the identity. Sometimes they steal it, blackmail the victim and ask for ransom money.

The Advent of 5G Makes You More Vulnerable

5G or the fifth generation of cellular networking will open the gate of new opportunities for tech advancement and innovation. With the advent of 5G, the growth of developing technologies like the Internet of Things (IoT) is expected to be paced up. However, opportunities also come along with vulnerabilities. Hackers are looking for vulnerabilities and preparing themselves to come up with more robust data breaches using the 5G. So, everyone must keep checking their security connections and make them stronger than ever before. If you want to keep the hackers at bay, you need to be upgraded and make sure that there aren’t any loopholes in your security status.

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