Similarly, enterprises are overusing cloud computing, especially after recent crash events, and working from home due to COVID-19. As the world evolves into a digital sphere, businesses around the world are reaping the additional benefits of the Internet. Companies can access Big Data and analytics tools to complement their business operations. However, the increasing use of the Internet also brings with it a major security threat: cybercrime.

Malicious emails were also the most common type of cyberattack in the Internet Security and Threats Report. The consequences of cybercrime are costly: according to a study by the Ponemon Institute, the average total cost of a data breach in 2019 is $3.92 million. It is high time that businesses and organizations become aware of cyberattacks and cybercrimes. A cybersecurity system can help businesses protect themselves from cybercrimes such as hacking, phishing, and fraud.

It’s also important that your employees are aware of these threats and know how to protect themselves online. By following these simple tips, you can protect your business from cyberattacks. All companies need to be transparent about how they collect, use and share end-user data.

This should include regular training and a framework to reduce the risk of data leaks or data breaches. Cybersecurity is the state or process of protecting and recovering computer systems, networks, devices, and software from any type of cyberattack. Cyberattacks pose an increasingly sophisticated and evolving threat to your sensitive data as attackers employ new methods using social engineering and artificial intelligence to circumvent traditional data security controls. Using a public Wi-Fi network can leave you vulnerable to a variety of man-in-the-middle attacks. To protect yourself from these attacks, most cybersecurity experts recommend using the latest software and avoiding password-protected websites that contain personal information (banking, social networking, email, etc.).

With the advance of technology and digitization, we are open to attacks from hackers and other nefarious individuals who want to compromise our data and steal from us. This blog post explains how you can protect your business from cybersecurity threats with the right management strategies. Now that you know what can pose a high security risk to your business, it’s time to create external penetration testing a cybersecurity plan. It’s also a good idea to implement a network management solution so you can maintain and monitor your network infrastructure. Finally, you need to protect your company’s endpoints, which include laptops, desktops and mobile devices. As businesses rely more and more on technology, they are more likely to be exposed to cyber threats and data risks.

So there is a loss, namely the loss of valuable resources, and another loss, namely the cost of the actions taken to mitigate the damage done. Therefore, it is important to keep in mind that cyberattacks also take a toll on your financial resources. With cyber threats increasing every day, you can never be too sure about the security of your company’s data because data breaches can happen at any time, even to the most technologically prepared organization. It is expected that the damage caused by cybercrime will reach $6 trillion globally by 2021, as businesses and government entities struggle to protect themselves.