What is Cyber Security | Definition, Importance, And Tips to Know

You have probably noticed that headlines about cyber security are becoming increasingly common. Hacker attacks are growing daily as new ways of stealing information or money are developed. In addition, the increasing number of threats is also caused by new technologies and new places where people keep their data and finances. To put it simply, NFT marketplaces, banking apps, healthcare organizations, and other digital products are now in danger more than ever.

Since people tend to share their information more freely today without any worries, hackers get the advantage of this freedom and do not waste time. You, as a company, don’t want to lose your customers’ trust and, thereby, revenue. This is why it is increasingly important to make sure your users’ data and money are safe by using cyber security services.

What Is Cyber Security?

Cyber security is a method of protecting digital data or assets which is made up of all the technologies and practices that guarantee computer systems and electronic data safety. And in the highly digital world we live in, where people, businesses, and various organizations operate online, it’s an enormous and growing industry with many types of job roles.

Based on the Cyber Security & Infrastructure Security Agency (CISA), the definition of cyber security is known as the art of protecting networks, devices, and data from unauthorized access.

What Is Information Security?

Information security consists of many processes and tools developed and used to protect sensitive business data from stealing, modification, disruption, and inspection, according to the above-mentioned organisation.

Even though Information security and cyber security have differences, these terms are often confused due to a lack of knowledge in this field. Experts say that information security is an essential part of cyber security, although used solely to ensure data security.

Why Is Cyber Security Gaining Importance?

Being hacked is not a small issue that can be fixed within minutes. While some companies can worry about hacker attacks less, others should know that even threat attempts can ruin their whole business. This is because customers always want to feel safe and protected when using apps, and websites, giving you their personal information, and so on. Protip: nowadays it is important to be cautious about online privacy while surfing the internet.

With the benefits, new technologies also increase the number of ways hackers can steal information and money. Therefore, no one will be surprised knowing that every year the number of hacker attacks will only grow. For example, Gartner Inc. suggests that worldwide security spending will probably hit $170 billion in 2022, showing an 8% increase in just a year.

Since people go online for almost any task they need to do, businesses also want to stay in demand and develop their digital products. Whether it is a small business or a market giant, now almost everyone has an online presence in some way. This gives hackers too many options to choose from. While some know the importance of protecting user data and using cybersecurity services, others still believe it will never happen to them. However, even NFT marketplaces with the highest level of security can be hacked when know-how.

Therefore, any company whose whole business models work on control of customer data can find their databases quite compromised. So regardless of what type of information you operate with from users, you can become the next choice of modern hackers who will do their best to steal it. And this threat will put in danger your business, users’ trust, and your position in the market.

What Are Cyber Attacks?

To put it simply, cyber-attacks are any unwelcome attempt to steal, expose, disable or destroy data or money through unauthorised access to the software. While no one will ever understand the real cause of these attacks in some cases, experts say that there are many reasons behind a cyber attack. These often include cyber warfare, cyber terrorism, and sometimes hacktivists. However, all three reasons fall into one of these categories:

Criminal;
Political;
Personal.

Recent reports show that small businesses are usually the main choice of hackers. This is because they often have less efficient security infrastructure than market giants who have already been attacked. The same report also collected opinions of business owners who say that they often feel that their products are vulnerable to an attack. And this happens due to several reasons, like:

They can’t afford professional IT solutions;
Try to enter the market faster;
Underestimate their information;
Limited time to invest in cyber security;
Not sure where to start.

In order to prevent any successful and costly attacks, companies now use penetration testing, which allows them to save money and know their poor points.

What Are Types of Cyber Attacks?

While types of attacks are also growing, below you will find some of the most common ones in 2022:

Malware

Malware, somewhere called malicious software, represents intrusive software designed by hackers. The main goal is to steal data or damage computers with underlying computer systems. The biggest danger the malware brings is its ability to exfiltrate massive amounts of data. Some of the best examples of malicious software are viruses, worms, spyware, trojan, adware, and ransomware.

Phishing

Phishing attacks refer to the special practice among hackers where they send fraudulent communications while people believe it is a reputable source. This attack can be recognised as it usually happens via phone call or email. The main goal is to steal sensitive data, like login and financial information or even automatically install malware onto one’s phone.

Ransomware

Ransomware is one of the types of malware developed by hackers to encrypt files on a target device, making these files unusable. The goal here is to get money, as when the system has been encrypted, hackers ask for ransom in exchange for decryption which is often another trick, and business doesn’t get the decryption.

Viruses

Finally, we are all familiar with viruses. These are harmful programs designed to spread from software to software while also reaching connected devices sometimes. The goal of a virus is to give the hacker needed access to the infected systems. Most often, viruses present themselves as legitimate applications and then often cause significant damage to the system. This way, hackers can easily steal data, interrupt services or download additional malware, depending on the goal.

Final Thoughts

Modern businesses struggle with hacker attacks. This happens because not everyone knows the importance of cyber security, and attackers develop new methods of stealing data and money. This small guide tells you everything you need to know about modern hackers and explores the importance of cybersecurity in 2022.