Why is Investing in Cybersecurity a Good Idea?

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Nearly 95% of cybersecurity breaches are caused by human error. That percentage reflects the number of data breaches and the tsunami of losses worldwide in the past years.

With malware attacks quadrupling each year and billions of dollars being wiped off from the internet, businesses and individuals are finally bringing the topic of cybersecurity to the table. While it’s a late awakening, it’s much needed in today’s high-tech digital world that involves constant surveillance and the presence of cybercriminals.

Whether you’re a business or an individual, investing in cybersecurity would go a long way in securing your digital existence. Here are some reasons why you should begin today:

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Cybercrime is on the Rise

According to cybersecurity experts, there are roughly 4,000 cyberattacks every single day. Cybercrime continues to increase is because it’s fast, cheap, and highly profitable compared to conventional crimes.

Widespread Damage

Cybercrime can cost organizations millions of dollars in damages from which they might never fully recover. However, it’s not just the financial cost that takes a hit on the organization, as reputational damage tends to cost more in the longer run.

Cybersecurity Builds Trust

Organizations with strict cybersecurity protocols in place are widely accepted and appreciated. Customers tend to trust these companies with their valuable data and recommend them to others via the most powerful marketing tool – word of mouth.

Secure Online Devices

There’s constant transmission of data taking place around us. Data is becoming digitalized from the Internet of Things (IoT) devices such as an online printer or an Android TV to our smartphones. Securing these devices is essential to reduce the risk of cybercrime.

Unknown vulnerabilities

As technology evolves and receives widespread acceptance, unknown vulnerabilities emerge and cause a threat. With organizations merging and growing in size, networks and systems get complicated, resulting in vulnerabilities that weren’t there before.

It’s essential to steer clear of vulnerabilities, and part of it is, to begin with securing your WiFi network. Learn how to connect your home WiFi network.

Why Cybersecurity is Crucial

Investing in cybersecurity solidifies your digital IT architecture. However, investing in cybersecurity isn’t a one-off thing where you deploy critical infrastructure and expect it to protect you against cybercriminals and hackers alike.

Your most important step towards ensuring secure digital operations is to invest in your workforce by making them more cyber aware. There are multiple cybersecurity certifications for employees which enable them to evade any missteps.

As for businesses, cybersecurity awareness enables companies to strategically dodge a whole spectrum of security risks, ransomware attacks, spyware, and much more. A dedicated cybersecurity team can gain your business a comprehensive edge when it comes to securing critical digital infrastructure in today’s complex threat environment.

Humans are the weakest link in the cybersecurity chain, and there’s nothing more vulnerable about tools than those who developed them. Moreover, government regulations and scrutiny over cybersecurity have increased over the years.

With data privacy acts such as the California Consumer Privacy Act and GDPR in place, organizations are held accountable for any data breaches that might occur as a result of poor cybersecurity.

The European GDPR legislation has appointed a Data Protection Authority (DPA) that thoroughly examines if a company took enough steps to prevent a security breach. If a company fails to secure its digital infrastructure, it could face a fine of up to 10 million euros or 2% of the global turnover.

This information isn’t there to scare you, but you make you more cyber aware. An average cost of a data breach is close to $4 million, and more than 50% of Americans are unaware of which steps to take if they get hacked.

Check out: Importance of Demand Of Online Identity Theft Securing

Source@techsaa: Read more at: Technology Week Blog