You may be asking yourself how does cybersecurity help businesses?  Isn’t a firewall and anti-virus software enough?

Businesses need cybersecurity professionals who have up-to-date knowledge of the best cyber programming languages and security measures to take.

Trained specialists are needed to help with monitoring networks, training employees, creating business continuity plans, and much more.

In companies that offer cybersecurity help, forensic experts are needed to analyze threats and devise ways to protect against them.

Right now, there is a significant shortage of qualified cybersecurity specialists.

According to Cybersecurity Ventures, there will be 3.5 million unfilled cybersecurity jobs by 2021.

That means, there are countless opportunities for anyone looking for a career in cybersecurity.

Network Configuration and Monitoring

Businesses need individuals who know how to configure networks for minimal penetration.

Properly configured networks are especially important now that more companies are adding devices to the Internet of Things (IoT).

Every device connected to the network is an access point that is available for hackers to use to gain access.  That is one way cybersecurity can help businesses.

These so-called smart devices are not equal when it comes to security.

As a result of no security standard existing for the IoT, businesses need ways to segment their networks to limit penetration should a breach occur.

They also need people who can monitor network activity for unauthorized attempts or even a brute force attack.

Network cybersecurity for businesses is becoming more of a concern as the IoT expands.

Configuring and monitoring a network is no longer watching performance and capacity.  It is also about knowing how to set up a network to limit breaches through guest accounts or remote employees.

Businesses want to offer free Wi-Fi and remote work opportunities, but they are not aware of the security risks associated with these features.  The importance of cybersecurity in business cannot be overstated.

Employee Tech Education

Employee education is more than just training.  It is helping non-technical staff understand how cyberattacks work and how to avoid them.

Most people are aware of basic phishing and ransomware attacks.  Today’s attacks are more sophisticated than the long-lost uncle who has left you a fortune.

A lack of employee education is one of cybersecurity’s greatest concerns.

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In September of 2019, the FBI reported that business email compromises (BEC) exceeded $26 billion in actual and attempted losses.

Many companies and employees have never heard of BEC, let alone know how to detect it.

Showing employees how adding an “s” to the end of a company’s name or inserting a middle initial into someone’s name can be easily overlooked, but end up letting bad actors into the network.

If employees had been trained, the city of Ocala, Florida, wouldn’t be out $745,000.

Cybersecurity specialists help companies but policies in place to help counter a possible attack.  BEC tricks employees into wiring money to a fake account.

Once it hits the fake account, the money is distributed over a range of offshore banks, making it impossible to recover the funds.

Even companies as large as Google and Facebook have been caught in a BEC scam.  That’s why cybersecurity is important.

Business Continuity Plans

Cybersecurity helps businesses by participating in developing business continuity plans.  Businesses should have a continuity plan for a data breach just as they do for natural disasters or other catastrophic events.

Data breaches or other cyberattacks have significant financial ramifications. The average cost of a data breach for small-to-mid-sized organizations is about $200,000.

What is even more disheartening is that 60% of small businesses go out of business within six months of an attack.

Companies of all sizes must have access to cybersecurity experts, who can help mitigate the financial costs of a security breach.

Cybersecurity can help businesses survive.

Business continuity plans can reduce the costs of a successful cyber attack through backup or alternative data locations.

They can include the reporting requirements depending on the industry and what employees should do if a breach is detected.

Knowledgeable cybersecurity experts can help organizations reduce their costs by minimizing the impact of cybersecurity in business.

Financial losses are not all from the breach itself.  Other factors can come into play.

For example, an IBM report found that the average cost of a large data breach in the U.S. is $3.9 million.  That includes the cost of such things as legal and regulatory assistance.

IBM also factored the cost for the loss of customers, employee turnover, and loss of brand loyalty into the total cost of a data breach.

With a business continuity plan for data breaches, a company can reduce the financial impact of an attack.

Containment and Recovery

Cybersecurity experts are trained in the best practices for containing and recovering from a cyberattack.

For example, a recent ransomware virus, known as Ryuk, attacks the edges of a network, the primary network, and all backups.

In fact, it attacks backups first.  If a business continues to place backups on the same network as their primary system, the hackers will be able to access both.  That means, the company has no alternative but to pay the ransom.  Very few ransomware viruses have known keys for recovering the system.

Businesses need security specialists who can help minimize the impact of a cyberattack.

Once the recovery process begins, the security specialist can help gather evidence about the incident.  Such information can help resolve the incident and assist with prosecution.

With proper training, security personnel can identify and track a hacker’s trail.  Finding cybercriminals is another way cybersecurity helps businesses.

Start Your Cybersecurity Career

It’s just a matter of time before a cyberattack hits a business.  Without a security specialist, the attack will likely be successful.

Unfortunately, that may happen if more people don’t pursue a career in cybersecurity.  Now is the best time to start fresh and begin a new career path in cybersecurity.

Look into a Cyber Security program powered by  Woz U if you’re ready for a fulfilling career.

 

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Sources

  • https://www.trendmicro.com/vinfo/hk-en/security/news/internet-of-things/the-first-steps-in-effective-iot-device-security
  • https://www.weststarbank.com/our-info/bec-attacks–what-they-are-and-how-to-protect-yourself
  • https://www.ic3.gov/media/2019/190910.aspx
  • https://www.cnbc.com/2019/10/13/cyberattacks-cost-small-companies-200k-putting-many-out-of-business.html
  • https://usa.kaspersky.com/resource-center/threats/ransomware-examples
  • https://www.ibm.com/security/data-breach
  • Information Security Buzz (2019). BEC Fraudsters Divert $742,000 From Ocala City In Florida – Expert Comments | Information Security Buzz. [online] Information Security Buzz. Available at: https://www.informationsecuritybuzz.com/expert-comments/bec-fraudsters-divert-742000-from-ocala-city-in-florida-expert-comments/ [Accessed 9 Apr. 2020].
  • ‌https://cybersecurityventures.com/top-5-cybersecurity-facts-figures-predictions-and-statistics-for-2019-to-2021

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