Technology keeps evolving, and the world keeps paving the way ahead. Meanwhile, the impact technology has on the world keeps rising as well. However, in an era such as this, the importance of cybersecurity has become a major concern. To be specific, the modern world businesses have arrived at a phase where they have to struggle to resolve their cybersecurity issues daily.
Moreover, every individual is more aware and concerned about cybersecurity issues. Owing to these factors, there is no wonder that the importance of cybersecurity has become a trending topic nowadays. Besides, many are more interested in this aspect, as we are moving to 2021, along with the crisis that a pandemic created. Hence, we thought of exploring this concern a bit. Accordingly, we are ready to discuss with you the importance of cybersecurity in 2021.
However, when studying with regard, cybersecurity statistics play a major role. So, let us first draw your attention to these statistics, for a better understanding of the importance of cybersecurity. Excited, isn’t it? Keep calm. Here we go!
An Overview on Latest Cybersecurity Statistics
The following statistics related to the field of cybersecurity will simply prove to you the magnitude of cybercrimes. Moreover, these statistics are based on the information published by Cybersecurity Ventures, a leading researcher in the field of the global cyber economy.
- The cost of cybercrimes in the world is to exceed the limit of $6 trillion by the year 2021.
- When compared with 2015, it is believed that the Ransomware attacks will increase by 57 times by the year 2021.
- Accordingly, there is a prediction that a ransomware attack will happen on businesses every 11 seconds by 2021. Further, the ransomware attacks on individuals will be way higher than this amount.
- The statistics reveal that more than 91% of the cyberattacks begin with spear-phishing emails in the present. Therefore, social engineering happens to be the main infection vector in terms of Ransomware, and thus, it happens to be a major concern that demands attention in the year 2021.
- As per the predictions, the global ransomware damage costs will reach $20 billion by 2021.
Of course, this is just a glimpse of the present status of the global cyber economy. And indeed, it has an impact on us, as individuals, as also as a part of businesses that run all over the world. Hence, these facts simply prove that cybersecurity is never a job of IT employees anymore. Yes, it has been a part of our lives that demands high attention.
Yet, if you still have a doubt as to why cybersecurity is important, we are ready to help you clear out your doubts as well. Take it easy! Just continue reading.
Why is Cybersecurity Important?
Indeed, a popular question! Simply, there are many reasons as to why cybersecurity is important, especially in this dawned year, 2021. Some of the mains among them are as follows.
Influence of Cybersecurity on Personal Life
With the rapid development of technology, and with the wide use of the internet, our lives have changed immensely. Accordingly, it is no secret that knowingly, or unknowingly, we are all a part of this one global ‘online community’. All these circumstances have made us use emails more and more. Meanwhile, efficiency and ease have made us trust online payments and transactions. Going beyond, social media accounts have become an essential part of our lives. And yes, with that, let us get to the point!
Let it be emails, social media accounts, or online payments and transactions. All of them contain our personal information. Moreover, once they are connected to the internet, there are ample opportunities for hackers to access them and grab our personal information. Of course, one might argue that our passwords protect our information. Yet, let us remind you that passwords are not always secure. A weak password can let a hacker empty your bank accounts.
Going beyond, they might even get chances of hacking the accounts of your contacts as well. And why not? They might have the ability to access all your conversations, and thus, harming your privacy. Also, they might be able to damage your electronic devices, disrupting your day to day activities as well.
So, these are just a few harmful impacts that cybersecurity issues will bring to you. So, in a world where your privacy and personal information can be easily stolen, the importance of cybersecurity needs not be further exaggerated. No matter what, if you value your privacy and your personal life, yes, cybersecurity happens to be the foremost concern.
So make sure that you are aware of cybersecurity issues, and you take actions to prevent undesirable conditions arising from it since it influences your personal life.
Impacts of Cyber Security on Businesses
It is no wonder that many of the present world businesses are running having online platforms and technology as their base. Hence, the bond that they have with technological aspects can never be ignored. Owing to this simple reason, the high attention to cybersecurity surely has a series of positive impacts on businesses.
To be specific, cybersecurity has always played a major role in protecting the intellectual properties and cooperating information of a business. As you might already know, they are mostly available as softcopies. They might be shared through online platforms. Moreover, there may be several databases of businesses with sensitive information. So, it is not a secret that cybersecurity is important in protecting them.
Apart from that, cybersecurity has been important in maintaining the smooth flow and efficiency of businesses’ day to day technical operations. In fact, a Ransomware attack can simply interrupt the whole process of a business. Also, cybersecurity has been vital in guaranteeing the privacy and trust of its customer base. And failing to do so, will surely pave the way for costly legal battles as well. Going beyond the loss of trust, the loss of confidential information, and the high costs of bringing the systems back to action, are immense beyond a doubt.
Of course, these impacts and adverse effects were always present. Yet, the pandemic situation in the world makes us highlight this fact more boldly. Yes, cybersecurity emerges as a significant factor as many of the businesses shifted their employees to work from home. Hence, this matter can never be missed when studying the importance of cybersecurity in 2021.
Impact of Cybersecurity on a Country’s Economy
You might not have considered this fact serious. Yet, yes! Cybersecurity has a major impact on a country’s economy. A considerable percentage of a developed country’s GDP is annually lost owing to cybercrimes. Further, around one percent of global GDP, is lost to cybercrime in the present each year. In fact, these percentages have increased immensely with the influences of digital currencies and black markets.
Moreover, the impact of cybersecurity on businesses is closely coupled with the impacts it has on a country’s economy as well. If several businesses in a country, or else, if the most powerful business chain of a country faces a series of adverse effects owing to cybercrime, it indirectly impacts the country’s economy as well. If a country’s operations get interrupted owing to a major scale cybercrime, still it brings highly adverse impacts on the country’s economy.
Likewise, there are certain instances where cybercrimes can impact a country’s economy, as well as the global economy on a high scale. Thus, in terms of considering the economy, the importance of cybersecurity can never be ignored.
Impacts of Cybersecurity on a Country’s Defence
Even many of the highly developed countries had immense national security threats owing to cybersecurity issues. Hence, whatever the country it is, there is no doubt that cybersecurity plays a major role in a country’s defense. Accordingly, the countries have arrived in a state, where they have to take serious measures on safeguarding the governance of the country.
In simplest terms, possibilities for cyber crimes indirectly means encouragement for terrorist activities within a country. It means severe chances for a party to harm a nation’s critical infrastructure. It means opportunities to annoy individuals threatening them to join theft. Moreover, loopholes for cyber crimes means the lives of a country’s citizens are at risk.
Thus, a government can never ignore the aspects of cybersecurity in a country. Therefore, it is clear that the importance of cybersecurity has major impacts on a country’s defense, and it should never ever be a concern of the government solely. The governance of the country means the lives of citizens. Hence, we should also pay high attention to this aspect of cybersecurity, when studying its importance.
Why is Cyber Security a Major Issue in 2021?
Simply, these facts prove that the importance of cybersecurity falls upon anything and everything in this modern world. Yet, why has the importance of cybersecurity has become a major concern in 2021? Of course, even you might be having this doubt. Keep calm! Let’s find out why!
One of the main reasons that demanded the world consider the importance of cybersecurity in 2021 is this pandemic situation. Duly, many organizations promoted working from home. We never say that allowing remote working makes employees malicious. Still, we can never disregard the fact that remote working creates more opportunities for cyber crimes owing to the huge escalation that took place with regard, parallel to this transformation.
In brief, the workplace networks that were once decentralized, suddenly scattered over miles. Most of the employed had to use personal technological resources in order to meet their tasks. Similarly, this made personal devices store a considerable amount of sensitive information of the corporates. Meanwhile, even the employees could not easily adapt to the ‘work from home’ concept owing to their home environments and family responsibilities. Thus, mistakes were common. This created hackers more opportunities to proceed ahead with their plans.
In addition, people adapted themselves to using online payment methods, more than ever. Let it be a bank transaction or a utility payment. Whatever it is, the best option people could see was online methods, and it is no wonder that the governments promoted this fact as well. Of course, it is never an offense when considering the pandemic situation, and indeed, it was an encouragement to benefit out of the available online resources. Still, we have to admit the fact that this rapid increase in using online platforms created ample space for cybercrimes.
In addition, the use of social media, and online communication reached a peak, with the lockdowns in countries, and with the trends of online business opportunities.
Likewise, the chances for hackers increased, and it led the way to the increase of cybercrimes in the present world, especially in 2021. So, we can never treat this issue any less. Thus, the best is to take action to prevent cybercrimes, as best as possible.
How to Prevent Cyber Crime?
And this should certainly be the next important question of yours. Keep calm! The below points will help you reduce the risk of cybercrimes at its best.
- Be aware of the importance of cybersecurity policies, and the precautions to reduce their risks.
- Better to use two-factor authentication apps or physical security keys.
- Set cybersecurity policies for the business and employees.
- Create cybersecurity incident response management plans.
- Promote authenticity of requests for online transactions and payments.
- Use Intrusion Detection System (IDS) rules to assist you to detect emails with extensions similar to company emails.
- Keep the systems, software, and protections enabled and updated.
- Backup data and information regularly.
Of course, these are just a few steps that will help you reduce the risk of cybercrimes. As technology evolves, and as the complexity of cybercrimes improves, many more safety precautions might come up from time to time. So, stay updated!
The Bottom Line
Finally, let us remind you that the importance of cybersecurity should never be ignored. Taking precautions earlier is always better than regretting later. So, make cybersecurity a top priority, and join hands in creating a cyber secure world!