“I think computer viruses should count as life. I think it says something about human nature that the only form of life we have created so far is purely destructive. We’ve created life in our own image.” —Stephen Hawking
Cyber security has become a major challenge globally. Previously nations waged war on land, air, and sea. Presently they wage war through cyberspace. Apart from nations, global organizations find it challenging to ensure cyber security. Research shows that cyberattacks are costing global businesses. The banking and financial sectors have led the way as top targets for cyberattacks in the last five years, with IT and telecom, defense, and the oil and gas sectors following behind. The risks arising from cyberattacks and incidents include the possibility of theft, damage to property, loss of vital data and customers, and loss of confidential information to competitors. Here are some reasons that prevent organizations from preparing against cyber risks—inability to analyze the challenge; inability to hire the right talent; budget constraints; underrating the risk; and inability to adapt and embrace the change.
Challenges
“From bank accounts to financial systems, power grids to air traffic controls—our most critical infrastructure remain attractive cyber targets, and if they are ever compromised, the effects could be devastating.” —Mike Quigley
The UK Government Communications Headquarters (GCHQ) unfolds that most of cyber-attacks can be prevented or mitigated by basic information risk management. Here are some tips to minimize cyber risk. Companies must create a culture of cyber security the way they create organizational culture. They must assess their risk appetite and involve all stakeholders.
There is a growing demand for ICT workers currently. Hence, there is a need for cyber education, skills, and products. Presently people steal on the road. In the future, they will steal data without your knowledge. Hence, individuals, organizations, and CEOs must understand cyber security and take appropriate steps to prevent their organizational data from being stolen. There is no "silver bullet" solution for cyber security. To conclude, you have entered cyberspace where the experts and hackers have the details of your activities with documentary evidence. Therefore, the onus lies with you to ensure the safety of your data and protect your privacy.
“The first step in securing our cyber future is education, and that means everything from educating individuals to companies to the next generation of IT professionals.” —Dan Lipinski
“As the world is increasingly interconnected, everyone shares the responsibility of securing cyberspace.” —Newton Lee, Counterterrorism and Cybersecurity: Total Information Awareness
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Professor M.S. Rao, Ph.D.
Founder of MSR Leadership Consultants, India
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