Cyber Security is a significant step to take for business and national organizations apart from individuals. If you are considering tightening your end, you must be aware of the pros and cons of cyber security in terms of its benefits and potential challenges.
"It's not a question of if, but when," said the CEO of a major American company while referring to Cyber Security and how it will be an integral part of every business in the future. The world has gone digital where everything people do leaves behind data that can either be helpful or hurtful. One man's trash is another man's treasure, and there's so much to relate to while the digital footprint is on the rage.
Cyber security is the protection of computer systems from theft, damage, misuse, etc. It usually involves allocating people's roles in manipulating or accessing information that resides on a network or system.
According to Statista report, the US had over 1400 breaches with over 164 million records exposed. On the other hand, there were more than 6 billion malware attacks reported globally in 2020.
Companies rely on their websites, the internet, and computers more than ever now, and as such, require their information and systems to be protected from theft or other means of damage. Without cyber security, people may lose private information (credit card numbers, social security numbers, home addresses), and company secrets (trade secrets) could end up in someone else's hands due to a lack of protection.
The same applies to governments; without proper cyber security, their classified information can be stolen or otherwise compromised by malicious parties like terrorist groups or enemy nations. Countries that do not take this threat seriously will fall victim quickly and take huge economic or political hits.
As stated by former NIA, Edward Snowden, the best way to cyber security is through compartmentalization and need-to-know access levels; only specific people who have a valid reason to use it can access certain information or areas on a network.
This limits how much damage an intruder can do and the number of people who know about it and thus who could leak it out to rogue parties. Several companies such as Apple Inc., Google, Facebook, Microsoft Corporation, etc.
Cyber security makes sure that no one but those with permission (legitimate users) can access the systems. Thus, it can protect everyone from hackers, criminals, spies, terrorists, etc.
By protecting information and systems, governments also protect their economy. People are more likely to buy goods/services when confident that their private information is safe.
Cyber security is the process of defending the data and information on a computer or network against unauthorized access, use or disclosure. If you are organization is secured in all manner from different sorts of network-related risks, only then can you understand the pros of cyber security.
Implementing cyber security can actually improve system and data performance. For example, installing a software firewall will reduce the number of unauthorized access attempts that could slow down your computer or damage files.
One of the main benefits of cyber security is that it helps reduce data loss. DLP tools can be used in conjunction with firewalls, proxy servers, and other controls to restrict access based on user roles/responsibilities or IP addresses.
Many regulatory requirements require the implementation of effective cyber security measures. For instance, if you do business in Europe and handle personal information (PI) for your customers, such as credit card numbers or Social Insurance Numbers (SIN). You must ensure that proper controls are implemented to protect this data from loss or unauthorized access.
Customers want to know that their sensitive data is protected, whether credit card information or an email address for promotional offers. When your company implements proper cyber security controls, you can gain the trust of potential customers and keep the ones you already have.
Since cyber security helps reduce the number of attacks on your network, it can help you avoid downtime by blocking all attempts to access unauthorized software or data. This will allow networks and servers to continue operating at high-efficiency levels.
Unfortunately, implementing cyber security has some disadvantages as well. There are a varied number of cons of cyber security despite following stringent measures. For example, employees' or organizational information might get misplaced or locked due to a lack of access to the right credentials. Some other problems associated with cyber security are as follows.
Cyber security is expensive to implement and maintain, with or without outside help. It requires software and hardware integration along with expert staff members who are knowledgeable in cyber security techniques.
Implementing proper measures for protecting your network can be expensive; however, the costs associated with not having adequate controls in place could be much higher if you experience a data breach or other type of attack.
Implementation takes time, which can be expensive if you don't have the right personnel available to complete it properly. You will also need to continue implementing cyber security controls as threats change over time. If your business is small or you cannot afford a full-time IT staff, you may need to hire outside help for this.
Properly implemented, cyber security can reduce the number of attacks on your system and protect sensitive information. However, the time taken to implement these controls depends on the company size and network structure. The cost of implementation is directly proportional to the time spent on implementation and maintenance.
Some cons of implementing cyber security can affect your business's overall efficiency. Implementing proper controls may require the use of inefficient processes, such as requiring employees to have two-factor authentication each time they log into a system from home or using complex passwords for every login. This will slow down productivity and increase frustration levels.
The disadvantages of cyber security need to be considered when determining which controls should be implemented in your company. However, the limitations usually aren't as severe as those that could occur if you do not have proper protections in place for your computer systems and data.
While cyber security can provide many benefits, it is also difficult to manage. Managing a company's cyber security requires continuous monitoring of the system and data protection controls in place. In addition, cybercriminals are constantly advancing with new breaching methods, so your business needs to be able to prevent attacks as they occur.
Just like human attackers, these cybercriminals will find the weakest point in your system and exploit it. All in all, the professional you hire to monitor your company's network should be savvy enough to keep every potential threat at bay.
When implementing cyber security measures to protect your company's computer system and data, you need to ensure that the controls don't slow down productivity. For example, if employees are slowed down too much by completing the multiple-factor authentication, they may stop using the protections altogether.
It may not always be easy for everyone to remember complex and lengthy passwords. This could lead them to use their work computer at home or log in from a public location, which may put your company's data and systems at risk.
Conclusion on Cyber Security Pros and Cons
There can be pros and cons of cyber security for organizations, small companies, and individuals. The only difference is the benefits certainly outweigh the limitations depending on how vast your network is and how vulnerable it is.
If you’ve been struggling to keep up with the growing amount of cyber security threats, you need to implement the highest security at the moment. In addition, you should also be ready to follow actionable prevention techniques like turning on two-factor authentication or using an antivirus program that uses machine learning algorithms.
The average annual pay for a cyber-security leader ranges from $2 million to $4 million, according to KPMG. The industry also has an approval rating of 68%, making it a mentally and financially gratifying profession for most people.
The study authors argued that cybercrime is merely a monotonous office job for many individuals, maintaining the infrastructure these global markets rely on. Work that is much like that of legitimate system administrators.
Cybersecurity is essential because it safeguards all forms of data from being stolen and corrupted. This includes sensitive information, personally identifiable information (PII), protected health information (PHI), personal information, intellectual property, data, and government and industrial systems.
It's no secret that cybersecurity employment offers a lot of money. The average wage of a cybersecurity professional in the United States is about $103,000 per year. Positions at higher levels command greater pay and more responsibilities.