How does it work?
A successful cybersecurity approach has multiple layers of protection spread across the computers, networks, programs, or data that one intends to keep safe. In an organization, the people, processes, and technology must all complement one another to create an effective defense from cyber attacks.
Users must understand and comply with basic data security principles like choosing strong passwords, being wary of attachments in email, and backing up data.
Organizations must have a framework for how they deal with both attempted and successful cyber attacks. One well-respected framework can guide you. It explains how you can identify attacks, protect systems, detect and respond to threats, and recover from successful attacks.
Technology is essential to giving organizations and individuals the computer security tools needed to protect themselves from cyber attacks. Three main entities must be protected: endpoint devices like computers, smart devices, and routers; networks; and the cloud. Common technology used to protect these entities include next-generation firewalls, DNS filtering, malware protection, antivirus software, and email security solutions.
Why is cyber-security important? Increasing threats
As noted above, the number of cybersecurity attacks is increasing every year. From a total cost of $445 billion in 2014, the cost of cybercrimes reached $600 billion in 2017, according to a report by McAfee.
In a Cybersecurity Ventures report on cybercrimes, the firm projects the cost of cyberthreats to rise to $6 trillion annually by 2021, which includes everything from damage and destruction of data, stolen money, lost productivity, theft of intellectual property, theft of personal and financial data, embezzlement, fraud, post-attack disruption to businesses, forensic investigation, restoration and deleted hacked data and systems, to name a few. What investors might not know is the rising threat of cyber attacks on mobile devices, as well as medical devices–which is expected to reach $65 billion by 2021.
Cyber Security Solutions.
Paul Wan & Co offers our services in the design, development and implementation of IT security solutions for systems and applications. We can also help establish your company’s security architecture, information security policies, standards and procedures to be aligned with your business needs.
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