How should business leaders address the cyber security threats in 2022?

Cyber security experts continually try to defend their organization’s IT infrastructure against varieties of security threats. Still, cyber attacks hit businesses every day, cyber security threat actors use advanced sophisticated hacking techniques to get into a system and stay inside for a long and potentially destructive period.

Every day, hundreds of data breaches and ransomware attacks are taking place all over the globe. The targets range from big corporates to small businesses, and even startups.

Cyber security threats are prevalent

Estimates by cyber security analysts associated with a revered cyber security service provider reveal that every 40 seconds, a cyber attack is being carried out in the world.

Cybercriminals do not discriminate

Cybercriminals do not discriminate when it comes to choosing a target.

They are motivated in a myriad of ways however the primary motivation for a cybercriminal or a band of cybercriminals is to make money by encrypting the business data of their target.

Banking, credit, financial institutions, Govt organizations, Health care, eCommerce, MNCs, Energy firms, and businesses with large critical databases are always on the radar of threat actors. Although the cybercriminal’s motivation is usually driven by money, it may be politically or regionally. 

Cybercriminals can also lockout a business owner and their workforce from their own IT infrastructure by denying service attacks.

Another popular way of attacking a business or brand is to gain access to confidential client or product/service data and leak the same in the dark web so that rivals of the target business can buy the data packets.

Also Read: Security Prediction for 2022 by Trend Micro

Why is it important to counter cyber security threats?

Businesses usually neglect cybersecurity threats due to reasons like time constraints and lack of knowledge on how to deal with them but ignoring cyber security threats may hamper your business operation. Any cyberattack will not harm your business by losing money, it will impact overall brand value and reputation, which is more important for any business. 

• Loses face among its stakeholders
• Loses a lot of money in the process no thanks to lost data, corrupted data packets, leaked product/service blueprints and
• Loses current and prospective clients to its rivals.

Cyber security threats in 2022 or any other fiscal year for that matter should be countered by a business or brand owner. Failure to do that can even lead to a brand or business closure and take itself out of the long haul. The advent of the pandemic COVID – 19 popularised the idea of remote working culture but at the same time, it allowed cybercriminals to exploit unsafe online working habits of employees associated with businesses and brands of all sizes.

What is the solution?

Regardless of its size and age, every business or brand should consult with a company that offers cyber security solutions like real-time threat assessment and protection.

The second solution should be implemented in tandem with the first. The solution is to train in-house workforce members about ways to make your company’s IT infrastructure virtually and physically impenetrable.

It is time business leaders addressed cyber security threats seriously!

The remote work model has grown massively, most of the organizations are working remotely, Leaders should understand that protecting the data of their venture and the data generated by their clients is not a luxury but a necessity. It can also be looked at as a form of responsibility as it is the service provider’s duty or brand to offer its stakeholders a safe place to keep the latter’s personal data. Failure to provide safety to customer data ultimately labels a person as a failed entrepreneur in the corporate world – it is as simple as that! It should also be kept in mind that the real victims of a cyber attack are not always a brand or business but its customers who lost their financial or personal data to the hands of cybercriminals further led to life threats or even financial losses.

A business and its customers generate a lot of data each day. This data needs to be protected at all costs to ensure that an organization never falls prey to data breaches or ransomware attacks. In both cases, businesses lose a lot of money in a myriad of ways. Hence, business leaders need to address cyber security threats in 2022 more seriously by ensuring that their brand is backed by a company that offers high-quality cyber security services such as threat assessment and real-time protection.

Hence, leaders should invest in top cyber security solutions offered by reputed cyber security consultancy service providers for the best results.