- December 14, 2023
- Posted by: Netrika
- Category: Cyber Security
Research by Cyberfare highlights that by 2025, cybercrime will cost a whopping $10.5 trillion annually. With a growth rate of 15% per year, identifying vulnerable areas, designing robust cybersecurity measures and implementing them on time has become indispensable for organisations.
Businesses these days have a huge online presence, and this makes them a sitting duck for cyber-attacks. Fraudsters and data miners are consistently evolving their cybercrime strategies to meet the sophisticated, malicious attempts on cybersecurity that continue to flash headlines and are expected to scale at a massive scale. This raises the need for enhanced cyber security at all costs, in the absence of which organisations and individuals are vulnerable to confidential data theft, reputational loss and financial losses. This stands true for small, medium or large-scale organisations, which are equally at the receiving end of malicious threats exposing their vulnerabilities and causing them tangible and intangible losses.
What is a Cyber Threat?
A cyber threat is any malicious act that can harm an organisation by damaging or leaking its confidential data, causing financial losses or denting its reputation. Vulnerability in organisations could be defined as a loophole left open through which threats can pass to steal, damage, corrupt, deny and destroy information and intellectual assets. Risk to data, finances and reputation is realised when multiple threats converge to attack through vulnerabilities, and by then, it is usually too late.
Cyber risk assessment is of utmost importance to test a company’s defences against online threats. Hackers have the intelligence and the tools to probe for weaknesses in any network and then exploit them to carry out attacks like hacking, phishing, data theft, domain corruption, etc. Financial losses incurred due to breaches in data exceed the total global drug trade, which is indeed serious money.
Companies and organisations are increasingly ramping up defences to counter any malicious online attack, and they do succeed, though not always. Hackers are incredibly inventive when bent upon causing harm to a particular company and will use any means at their disposal to probe for weaknesses and lapses through which they can strike at will. Ransomware is a newer threat that has surfaced, and it is a scary proposition for organisations and individuals.
Companies cannot afford to sit back. They must always remain vigilant, and this is where Netrika Consulting India comes in. It is highly skilled in cyber security in India, and companies located there would do well to avail of their services.