Why do organizations need to have a qualified team to handle Cyber Security?
Why do organizations need to have a qualified team to handle
Businesses and corporations of all sizes are beginning to push cyber security to the foreground, but many companies still tend to treat the subject as an afterthought.
The financial service sector is likely to view cyber security as extremely important. Healthcare and other services are still behind, despite the sensitive data about the clients and the patients stored in warehouse.
Primary threats come from deficiencies in these areas of:
- Weak passwords
- Social engineering (manipulating employees to divulge confidential information)
- End users’ (non-technical employees’) knowledge of cyber issues
- Risky digital communications
- Malware awareness and detection
- Mobile devices
- Cloud service usage
Quite a few of our Indian companies were drastically affected by the Wannacry Ransomware. It was one of the massive cyber-attacks that hit personal computers across ninety-nine countries. The experts stated that the attack could have caused more damage over the weekend when it actually happened.
According to CISCO, Indian companies lost over 500,000 US dollars in the last 12-18 months in 2017. The Cisco 2018 Annual Cyber security report said, more than half of all attacks resulted in financial damages of more than USD 500,000, including, loss of revenue, customers, opportunities and out-of-pocket costs".
Cisco collected information from 200 companies across the country. The conclusion was that the security of the Data and the PC's are getting complicated and complex. There is more room for breaches as such is rapidly multiplying.
Organizations are implementing a complex mix of products to prevent breaches by the attackers. Such complexity is practically having a direct effect on the company's losses as there is a huge chance of increasing such risks. There is an increase in the attack on the supply chain with respect to its complexity and velocity. Nearly 54 percent of breaches affected more than half of the supply chain system to the vendors.
These attacks can have a huge impact on the computers and can continue up to few months or even years. C cleaner and Nyetya are two such attacks which took place in 2017. This attacked reliable software which did put the organizations in a huge deal of risk and surely couldn't any longer trust the software.
This calls in for cyber security professionals to be hired in larger numbers than the previous years. Hereby, we are open to graduates to pursue this challenging yet rewarding career.
Cyber security is an increasingly important priority for today’s corporations.
Here at Jain University, we prepare tomorrow’s Cyber Security professionals with the skill to manage a strong cyber protection of their future employers.