The Cybersecurity Wave: Importance and Impact of Cybersecurity in Today’s Digital World

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The Cybersecurity Wave: Importance and Impact of Cybersecurity in Today’s Digital World
Credit: © Reuters.

Cyberattacks continue to be a threat to organizations across the world, but using powerful cybersecurity solutions can help you defend your organization against these malicious attacks.

Without proper security management, your organization is an easy target for cybercriminals. Poor configuration of cloud services combined with how easy it is for cybercriminals to launch an attack poses a great threat to organizations. On top of this, cybercriminals often target entities outside of their jurisdiction, making it difficult for governing bodies to draft effective cybersecurity policies.

Unlike years ago, simply installing an antivirus solution across your systems isn’t enough to protect your network of devices. Cyberattacks can arise from any level of the organization. From IT admins to marketing teams, all employees require training and education on cybersecurity threats such as social engineering, phishing, ransomware attacks, and other types of cyberattacks.

Why is cybersecurity important?

Businesses are more reliant on technology than ever before. These technology-dependent processes in organizations are bound to increase in the coming years. Poor cloud service security and high internet penetration have led to a myriad of potential vulnerabilities in the corporate network.

Information is the most expensive asset available on the web. Organizations’ critical data may contain confidential information such as financial information, personally identifiable information, and trade secrets. This critical data may be the target of industrial espionage. Any organization that neglects data integrity risks facing major consequences.

Impact of a cyberattack

Advances in technology have left individuals and entities vulnerable to cyberattacks. If any data held by the organization is compromised, it could lead to serious implications such as reputational and economic damage.

Reputational damage

Customer trust is key to any business’ success. Cyberattacks can cost an organization’s reputation and customer trust. Besides customers, this can also affect the relationship the organization has with its suppliers and partners.

Economic damage

Data protection and data privacy laws require your organization to manage the security of all data it holds. In the event of a data leak, the organization is liable to face legal consequences such as penalties and legal action in compliance with the respective region’s data protection and privacy laws.

To mitigate these attacks and comply with privacy regulations, implement a robust cybersecurity strategy. ManageEngine’s cybersecurity and IT management solutions will help your organization defend against these attacks and help you comply with data regulations like the GPDR, CCPA, POPIA, and LGPD.

By Staff Writer.

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