What is Cybersecurity and Why Is It Important?

Increase in Cybercrimes

In the year 2022, there is an increase in the number of cybercrimes. Cybercrime Magazine estimates that global losses due to cybercrime would amount to $10.5 trillion annually by the year 2025. In addition, during the next four years, it is anticipated that the expenses of global cybercrime will increase by roughly 15 percentage points annually. They continue their steady upward trend seen in recent years. It is estimated that more than eighty percent of businesses throughout the world today are having their safety compromised by criminals operating online. Because of the fact that this kind of criminal activity takes place in the virtual world, the fundamental reason for this is that the capacities of the authorities to monitor cyberattacks are quite limited.

More than half of all cyberattacks, according to the statistics pertaining to cybersecurity, are carried out by means of ransomware. According to the statistics, the databases pertaining to healthcare are the most frequently targeted because of the significance of these databases to enterprises. Websites that are associated with social media can potentially be used maliciously to propagate viruses and malware or to breach confidential information.

The following factors will ensure that cyberattacks remain a concern throughout the course of the following year:

1. The implementation of cutting-edge technology in the commission of crimes online Cybercriminals have been adopting novel approaches in order to carry out illegal activities on the internet, which has made it more difficult for authorities to locate them and obtain information about their activities.
2. Due to the weak security protocols that are tied to IoT-connected devices, there will be an increase in the usage of these devices in the performance of online assaults in the coming year.
3. In 2023, we will see an increase in the usage of artificial intelligence, sometimes known as AI, to carry out malicious activities online. It is anticipated that hackers would utilize this technology to disrupt the computer systems of corporations, seize control over the devices of other users, and steal sensitive data from the servers of those organizations.

What Exactly Is Cybersecurity?

The practice of protecting networks, systems, and other digital infrastructure from malicious attacks is known as cybersecurity. With cybercrime damages expected to exceed $6 trillion by 2021, it’s no surprise that banks, technology companies, hospitals, government agencies, and nearly every other sector are investing in cybersecurity infrastructure to protect their business practices and the millions of customers who entrust them with their data.

What is the most effective cybersecurity strategy? Multiple layers of protection are distributed throughout a company’s computers, programs, and networks in a strong security infrastructure. With cyberattacks happening every 14 seconds, firewalls, antivirus software, anti-spyware software, and password management tools must all work together to outwit surprisingly creative cybercriminals. With so much at stake, it’s not a stretch to believe that cybersecurity tools and experts serve as the last line of defense between our most important data and digital chaos.

The importance of cyber security

Cyber security is important because it covers everything that has to do with keeping our data safe from hackers who want to steal it and use it to do harm. This can include private information, government and business data, personally identifiable information (PII), intellectual property, and protected health information (PHI).

It is important and in everyone’s best interest to have advanced cyber defense programs and mechanisms in place to protect this data. Everyone in society depends on things like hospitals and other health care facilities, financial service programs, and power plants, which are all examples of critical infrastructure. Our society can’t work without these.

We all depend on the safety of our information and data. For example, when logging into an app or filling out more sensitive information in digital health care systems. If the right protections aren’t in place for these systems, networks, and infrastructures, our data could end up in the wrong hands. In this sense, protection comes in the form of technology and rules.

On a personal level, cyber security attacks can lead to identity theft and extortion attempts, which can hurt a person’s life in a big way. If a cybercriminal got their hands on this information, they could do a lot of damage. They could share private information, steal money by using passwords, or even change data in a way that helps them.

Cybersecurity is important for businesses because it protects their data, finances, and intellectual property. People need it for similar reasons, but intellectual property is less important and the risk of losing important files like family photos is higher. Cyber security helps make sure that public services and government organizations can continue to be relied on by the public. For example, if a cyber attack was aimed at a power plant, the whole city could lose power. It could steal from hundreds of thousands of people if it went after a bank.

Types of cyber attacks and how to prevent them

Cyber attacks come in a variety of shapes and sizes. Some are overt ransomware attacks (hijacking important business products or tools in exchange for money to release them), while others are covert operations in which criminals infiltrate a system in order to obtain valuable data, only to be discovered months later, if at all. Criminals are becoming more cunning in their malicious deeds, and here are some of the most common types of cyber attacks that affect thousands of people every day.

Malware
Malware is a term for harmful software like viruses, spyware, and ransomware. It usually gets into networks by exploiting a weakness, like when people click on links in suspicious emails or install risky software. Once malware gets into a network, it can get sensitive information, make more harmful software, and even block access to important business network components (ransomware).

Within the domain of malware, the following cyber security threats exist:

• Adware is malware-spreading advertising software.
• Botnets are networks of computers infected with malicious software. Cybercriminals utilize them to execute online activities without the owners’ authorization.
• If the victim does not pay the ransom, the ransomware will lock the data and files on their computer and threaten to either keep the files locked or wipe them.
• Spyware monitors a user’s activities, such as collecting credit card information.
• Trojans are malicious software that masquerade as legal applications. After uploading, they collect information or inflict damage
• Viruses replicate on their own. They connect to a file and then spread across the computer system.

Phishing
Phishing is the act of sending malicious messages (usually emails) that look like they came from trusted sources. These emails use the same names, logos, language, etc. as a CEO or company to make people trust them and click on dangerous links. Once someone clicks on a phishing link, cybercriminals can get sensitive information like credit card numbers, social security numbers, and login information.

Botnets
This particularly heinous attack involves large-scale cyberattacks that are carried out by devices that have been infected with malware and can be managed remotely. Imagine it as a network of computers that are all coordinated by a single malicious hacker. To make matters even worse, computers that have been compromised are added to the botnet system.

Adware
This danger takes the form of a piece of malware. Advertisement-supported software is a common name for this type of software. The adware virus is a potentially unwanted program (PUP) that is installed secretly on your computer without your permission. It then generates annoying web adverts automatically.

Denial of service
A denial of service attack (DoS) is a type of cyberattack that overwhelms a computer or network with an excessive number of “handshake” processes. This effectively causes the system to become overloaded, rendering it unable to react to user requests.

Cyber terrorism
This danger is an attack on computers and other forms of information technology that is motivated by politics and is intended to cause harm and widespread social disturbance.

Social Engineering
Social engineering is the process of getting people to reveal personal information by using their minds against them. Phishing is a type of social engineering in which criminals take advantage of people’s natural curiosity or trust. Voice manipulation is an example of a more advanced way to manipulate people. In this case, cybercriminals take a person’s voice from a voicemail or social media post and use it to call friends or family and ask for credit card or other personal information.

The following social media sites will be utilized to threaten the privacy of individuals in the coming year:

1. Facebook – This platform poses a threat to the online security of its users since it collects data from third parties that support advertising campaigns on this website. The company then uses the obtained information to create targeted advertisements, exposing its subscribers to online frauds and other cybercriminal activity.
2. Instagram- It is a photo-sharing program that collects and sells users’ personal information to third parties. Next year, fraudsters can simply utilize the obtained information for malevolent reasons, which poses a huge risk to the privacy of individuals.
3. Twitter – Due to Twitter’s lack of privacy protections, cybercriminals may utilize the direct message tool to target specific persons.
4. Snapchat – Hacked third-party apps enable attackers to capture photographs and videos of individuals without their permission. This makes it easier for them to target messages to specific people on this platform next year.
5. Google’s Android app store – Due to its low security procedures, cybercriminals may employ bogus banking apps, game titles, cryptocurrency miners, and malware on this store in the coming year.
6. Google Chrome – This browser collects information about users’ surfing behavior and sells it to third parties, making it easier for hackers to steal specific users’ data.
7. YouTube – Due to the weak security standards associated with its material, more cyber attacks will be launched against this site next year. On this website, hackers may employ malware and phishing to get access to personal information, which they may then unlawfully sell for profit.
8. WhatsApp – Due to the weak security procedures it employs when processing messages received from users, cybercriminals may exploit this messaging service to deceive users into opening dangerous links.

“Man in the Middle” attack
Man-in-the-middle (MitM) attacks happen when criminals get in the middle of a transaction between two parties. For example, thieves can get between a person’s device and a public Wi-Fi network. Cybercriminals can sometimes see all of a victim’s information without getting caught if the Wi-Fi connection is not secure.

SQL Injection
SQL stands for Structured Query Language. A SQL injection aims to perform actions on data in a database and potentially steal it. It involves inserting malicious code via SQL statements, taking advantage of data-driven applications’ vulnerabilities.

Zero-day attack
The number of zero-day attacks is on the rise. Basically, these attacks happen between a warning about a network vulnerability and a patch solution. Most companies will say that they found a problem with their network security in the name of openness and safety. However, some criminals will use this as an opportunity to attack before the company can come up with a security patch.

Cybercriminal Markets: The Progression of Dark Web-Based Markets

The following are the leading dark web markets and how they will be utilized to threaten the privacy of individuals in 2019:

i. Dream Market – This is one of the most prominent marketplaces on the dark web, where cybercriminals can sell illegal goods and services.

ii. Tochka – On the dark web, cybercriminals utilize this Russian-based marketplace to sell illegal goods and services.

iii. Hansa Market – Due to its low security protocols, cybercriminals will utilize this market to sell leaked information next year.

iv. The Pirate Market – It is a well-known marketplace on the dark web that allows hackers to trade unlawful goods and services. Next year, hackers may use this website to purchase software to undertake targeted assaults against particular persons.

How Does Cyber Security Work ?

The term “cyber security” refers to the collection of technologies, procedures, and methods that are used to protect computer systems, data, and networks from being compromised. In order to provide an accurate response to the question “what is cyber security?” and to explain how cyber security functions, we need to break up cyber security into a number of subdomains, including the following:

Application protection
Application security refers to the practice of protecting an organization’s software and services against a wide variety of potential risks by putting in place a variety of countermeasures. Experts in cyber security are needed to create secure code, build secure application architectures, implement strong data input validation, and perform a variety of other tasks in order to reduce the likelihood of unauthorized access to or modification of application resources.

Security of the cloud storage
The term “cloud security” refers to the process of developing cloud infrastructures and applications that are safe for use by businesses that make use of cloud service providers such as Amazon Web Services, Google, Azure, Rackspace, and so on.

Identity Management and data security
This subdomain focuses on the activities, policies, and processes that enable lawful individuals to get access to an organization’s information systems and be granted authorization and authentication privileges. Implementation of robust information storage techniques that provide protection for data while it is either in transit or while it is stored on a computer or a server is required for these measures. In addition, this sub-domain makes significantly more use of authentication protocols, be they multi-factor or two-factor authentication systems.

Mobile Security
As more and more people rely on mobile devices, mobile security has become an increasingly important issue. This subdomain protects organizational and personal information that has been stored on mobile devices such as tablets, cell phones, and laptops against various dangers such as illegal access, device loss or theft, malware, viruses, and so on. Examples of these types of threats include: Authentication and education are two more methods that are utilized in mobile security in order to help bolster protection.

Protection of Networks
Hardware and software mechanisms are included in the definition of network security. These mechanisms serve to safeguard the network and infrastructure against disruptions, unwanted access, and other forms of abuse. An efficient network security system safeguards a company’s assets against a wide variety of attacks, whether those threats originate from inside or outside the business.

Planning for both Emergency Situations and the Continuity of a Business
There are certain dangers that are not caused by humans. The Disaster Recovery Business Continuity subdomain addresses the processes, alerts, monitoring, and plans that are designed to assist organizations in getting ready for the possibility of keeping their mission-critical systems operational during and after any type of incident, such as widespread power outages, fires, or natural disasters, as well as resuming and recovering lost operations and systems in the aftermath of an incident.

User Awareness
The level of awareness that an organization’s workforce has regarding potential cybersecurity risks is an important piece of the puzzle. It is essential for companies to provide their employees with training on the fundamentals of computer security in order to raise awareness about the best practices in the industry, the procedures and policies of the organization, as well as monitoring and reporting suspicious and malicious activities. Classes, programs, and certifications relating to cyber security are included in this subdomain’s scope.

Top Challenges in Cyber security

The threat posed by cyber security is greater than that posed by any other area of technology. Cybercriminals have already begun abusing technology controlled gadgets in order to further their criminal activities, which include fraud and theft. Because technological procedures are still being developed and continue to evolve at a steady rate, it is extremely challenging to avoid being the target of cyberattacks. The Internet of Things will have a significant impact on the development of technology in India in the years to come. It is concerning that India does not have a law specifically pertaining to internet of things despite the fact that it has become the backbone of numerous businesses, organizations, and even fundamental ways of life. Some kind of guidance can be referred to from the Information Technology Act of 2000. (IT Act, 2000). It is vital to keep a check on loose ends since the Digital India program is leading our country towards a digitized life where the existence would largely depend on aspects such as cloud computing, 5G in telecom, e-Commerce, and so on.

The following is a list of some of the challenges face in cybersecurity space 

• Digital Data Threat: The increasing volume of online transactions provides greater motivation for hackers. In addition, businesses that sift through data in search of nuggets of value, such as customer information, the outcomes of product surveys, and knowledge about the market in general, generate valuable intellectual property that is, in and of itself, a desirable target.
• Cloud attacks: The majority of people today utilize cloud services for both personal and business requirements. In addition, hacking cloud systems to steal user data is one of the issues firms face in Cyber Security. We are all familiar with the infamous iCloud breach that disclosed private celebrity photographs. If such an attack were to be carried out on enterprise data, it may pose a significant threat to the organization and perhaps cause its demise.
• Supply Chain Inter-connection: The various supply chains are becoming more and more intertwined with one another. Businesses are actively soliciting customers and sellers to become members of their networks. This creates a breach in a company’s security system.
• Hacking: which refers to breaking into the computer system of another individual without their permission in order to steal or destroy data, has multiplied by a factor of one hundred in the past few years. The abundance of information that can be found online makes it simpler for even persons without technical knowledge to engage in hacking.
• Phishing: This is the method that requires the least amount of effort to carry out yet still manages to get the desired results. It is the practice of sending out fake emails, text messages, and creating websites that are designed to look as though they are from legitimate businesses.
• IoT Attacks: IoT Analytics predicts 11.6 billion devices by 2021. IoT devices can automatically transfer data over a network. Desktops, laptops, smartphones, smart security devices, etc. are IoT devices. As IoT adoption increases, so do Cyber Security issues. IoT attacks can compromise user data. Safeguarding IoT devices is a major Cyber Security concern because accessing them might lead to additional threats.
• BYOD policies: The majority of companies have a Bring Your Own Device policy for its employees. Having such systems presents numerous Cyber Security issues. If the gadget is running an out-of-date or pirated version of the software, it is already an ideal access point for hackers. Since the approach is used for both personal and professional purposes, hackers have easy access to sensitive company information. If your private network’s security is compromised, the BYOD make it easy to access it. Therefore, firms should abandon BYOD strategies and supply employees with safe devices, as such systems provide tremendous Computer Security and network compromise difficulties.
• Insider attacks: Despite the fact that the majority of Cyber Security threats for firms are external, there might be cases of inside jobs. With malevolent intent, employees can leak or export secret information to competitors or other parties. This might result in substantial financial and reputational consequences for the company. By monitoring data and incoming and outgoing network traffic, these Computer Security issues can be mitigated. Installing firewall devices for routing data through a centralized server or restricting access to files based on work roles helps reduce the danger of insider attacks.
• Blockchain and cryptocurrency attacks: Blockchain and cryptocurrencies may not mean much to the typical Internet user, but for businesses, they are a significant concern. As a result, assaults on these frameworks provide significant Cyber Security challenges for enterprises, as they can endanger client data and business processes. These technologies have outgrown their infancy but have not yet reached a secure, advanced level. Thus, there have been numerous attacks, including DDOS, Sybil, and Eclipse, to mention a few. Organizations must be aware of the security risks associated with these technologies and ensure that no opening is left for intruders to exploit.
• Outdated hardware: So, you shouldn’t be shocked. Not all Cybersecurity issues take the form of software attacks. The risk of software vulnerabilities is recognized by software developers, who provide periodic updates. However, some upgrades may not be compatible with the device’s hardware. This is what causes obsolete hardware, which is incapable of running the most recent software versions. This renders these machines very vulnerable to cyberattacks, as they are running an outdated software version.
• Software vulnerability: Given the ever-increasing prevalence of digital devices, even the most advanced software is susceptible to vulnerabilities that could offer substantial problems to Cybersecurity in 2020. Individuals and businesses typically do not update the software on these devices since it is deemed unnecessary. Priority should be given to updating your device’s software to the most recent version. An older software version may have updates for security vulnerabilities that the developers have addressed in the most recent version. Attacks against unpatched software versions are one of Cyber Security’s greatest challenges. As with the Windows zero-day attacks, this type of attack typically targets a large number of persons.
• Machine learning and AI attacks: While Machine Learning and Artificial Intelligence technologies have proven to be immensely advantageous for the rapid development of numerous industries, they are not without their flaws. Cybercriminals can utilize these technologies to launch cyberattacks and represent a threat to enterprises. These tools can be utilized to find high-value targets within a massive dataset. In India, Machine Learning and AI assaults are also a major worry. Due to the absence of Cybersecurity experts in our country, it may be impossible to defend against an advanced cyberattack.
• Need for training and education: User education is also necessary; it is impossible to rely entirely on cyber security software or other solutions. The employees of a corporation must be aware of which behaviours are hazardous. For example, opening links from unknown emails or bringing viruses on their iPhones by inadvertently. This necessitates time away from routine duties for training, as well as a budget for training from the company.
• Insufficient professionals in the cybersecurity field: In addition to all of the above difficulties, there is now a lack of qualified individuals working in the field of cyber-security. According to a number of different estimations, there might be as many as two million open positions in the field of cybersecurity all across the world. Despite the fact that machine learning and other technological advancements have made some headway in overcoming this issue, it is still an obstacle.

These all challengers may be subjected to surveillance, and methodical procedures may be made, both with the goal of preventing such malpractices. Regulating the usage of data and explicitly indicating when information provided by users will be shared is necessary for online spaces to adopt in order to eliminate the problem of data theft. After that, the user has the option to opt out, which keeps the user’s personal information confined to the area for which it was originally intended. When software on the internet is compromised by vulnerabilities such as bugs or viruses, it is quite simple for cybercriminals to acquire private information. Large companies in the technology industry ought to work together to devise solutions that will enhance their customers’ sense of safety. The security measures need to be expanded outward, starting at the application level where obvious frauds are most likely to be discovered. Companies put themselves at jeopardy when there are no standardized monitoring methods available. Data can be preserved, however, if every network possesses monitoring that can identify changes in the network.

Because the cloud constantly monitors our life and stores all of our data, it is essential that we safeguard our cloud space. It is clear that cybercrime is on the rise along with the expansion of technology; yet, preventative steps that are implemented promptly and thoroughly can mitigate the risk of cyber accidents of any kind.

CIA Triad And the cybersecurity link

When you hear “CIA,” you probably think of the Central Intelligence Agency. This is an independent U.S. government agency that is in charge of giving policymakers in the U.S. information about national security. But what many people don’t know is that the CIA Triad actually stands for something else.

What?

CIA – Confidentiality, Integrity and Availability.

The CIA Triad is actually a model for security that was made to help people think about different parts of IT security. Any organization’s security is based on three main ideas: confidentiality, integrity, and availability. This is called CIA, and since the first mainframes, it has been the standard for computer security.

Confidentiality
In today’s world, it’s important for people to keep sensitive, private information from getting into the wrong hands.

To protect privacy, you need to be able to set and enforce certain levels of access to information. In some cases, this means putting information into different groups based on who needs access to it and how sensitive it is, i.e. how much damage would be done if the confidentiality was broken.

Access control lists, volume and file encryption, and Unix file permissions are some of the most common ways to handle privacy.

Integrity
The “I” in CIA Triad stands for data integrity. This is an important part of the CIA Triad. Its purpose is to keep unauthorized people from deleting or changing data. It also makes sure that if an authorized person makes a change that shouldn’t have been made, the damage can be fixed.

Availability
This is the last part of the CIA Triad, and it has to do with how accessible your data is. Authentication mechanisms, access channels, and systems must all work well to protect information and make sure it can be accessed when needed.

High availability systems are computer resources that are built with architectures that are meant to make them more available. Depending on how the HA system is designed, this may target hardware failures, upgrades, or power outages to help improve availability, or it may manage multiple network connections to route around different network outages.

Cybersecurity in our thoughts

Cybersecurity is essential because it guards against any potential risks posed by the internet to either you or your business. Because of advances in technology, an increasing number of people are susceptible to the actions of cybercriminals, which include hacking, the theft and loss of data, and industrial espionage. The rate of cybercrime is rising; as a result, if you do not have adequate cybersecurity, you run the risk of having sensitive information, money, or reputation stolen from you. The need for technology is just as critical as the necessity for cybersecurity.