Cyber security consists of technologies, processes and controls designed to protect systems, networks, programs, devices and data from cyber attacks. Effective cyber security reduces the risk of cyber attacks and protects against the unauthorized exploitation of systems, networks and technologies.
Computer security, cyber-security or information technology security (IT security) is the protection of computer systems from the theft of or damage to their hardware, software, or electronic data, as well as from the disruption or misdirection of the services they provide.
The field is becoming more important due to increased reliance on computer systems, the Internet and wireless network standards such as Bluetooth and WiFi, and due to the growth of “smart” devices, including smartphones, televisions, and the various devices that constitute the “Internet of things”. Owing to its complexity, both in terms of politics and technology, cyber security is also one of the major challenges in the contemporary world.
The three pillars of data security
Robust cyber security addresses people, processes and technology.
People:
Every employee needs to be aware of their role in preventing cyber threats. Cyber security staff need to stay up to date with the latest risks, solutions and qualifications.
Processes:
Documented processes should clearly define roles, responsibilities and procedures. Cyber threats are constantly evolving, so processes need to be regularly reviewed.
Technology:
From access controls to installing antivirus software, technology can be utilised to reduce cyber risks.
Why is cyber security important?
The costs of cyber security breaches is rising
Emerging privacy laws can mean significant fines for organisations. There are also non-financial costs to be considered, like reputation damage.
Cyber attacks are increasingly sophisticated
Cyber attacks continue to grow in sophistication, with attackers using an ever-expanding variety of tactics. This includes social engineering, malware and ransomware (used for Petya, WannaCry and NotPetya).
Cyber crime is a big business
In 2018, the cyber crime economy was estimated to be worth $1.5 trillion, according to a study commissioned by Bromium. Attackers can also be driven by political, ethical or social incentives.
Cyber security is a critical, board-level issue
New regulations and reporting requirements make cyber security risk oversight a challenge. The board will continue to seek assurances from management that their cyber risk strategies will reduce the risk of attacks and limit financial and operational impacts.
References:
https://en.wikipedia.org/wiki/Computer_security
Cybersecurity Info 