With the rampant change in technology, there is a change in the way organizations work and communicate today. Coupled with the difficulty in handling such changes, the proliferation of the internet, Internet of things, cloud computing, mobile technology, etc. are adding to the organization’s scope and vulnerability to cybersecurity risks.

A widely known and used definition of risk is threat times vulnerability times consequence.

Risk = Threat x Vulnerability x Consequence.

This is the general risk formula applied across the spectrum. When applied to cybersecurity, this formula sheds light on and provides into the risk mitigation plan. Cybersecurity risk is defined as a risk causing losses in finances and damage to the reputation of the organization due to a failure in the inter-connected IT system. In simpler terms, organizations are creating assets on shared networks, providing third-party access to digital assets and their networks too are becoming increasingly unstructured, decentralized and dispersed, exposing them to greater risks and threats. As cybersecurity is becoming more relevant and indispensable, the need for experts in the field has consequently increased. This, in turn, has increased the seekers for cybersecurity courses online.

Risk = Threat x Vulnerability x Consequence.

Threats: As discussed earlier, with the advent of technology and the interconnectedness of systems, the number of threats and threat actors is continuing to increase. The nature of these threats too is rapidly changing. The threat actors range from lone-wolf attackers to crime syndicates, nation-states, hacktivists to insiders. Their motivations for the attacks can range from financial gains, corporate espionage, data theft, vandalism, extortion, market manipulation, political statements, military advantages, etc.

Vulnerability: The threat actors look for gaps in cybersecurity systems, processes, technology, infrastructure and capabilities and exploit vulnerabilities of the organization to launch cyber-attacks and breaches. For instance, insiders will know the obvious gaps in the systems like weak or universal passwords, weak or outdated tech infrastructure, lax attitude towards cybersecurity, etc. The number of devices is increasing and networks turning more decentralized and dispersed are adding to the vulnerability factor. This apart, the newer technologies such as AI, Machine Learning, etc., while helping organizations, are also helping threat actors with breaches and cyber-attacks and making organizations vulnerable.

Consequence: The damage or harm caused by a breach or a cyber-attack is the consequence. The consequence is not limited to physical damage and in many cases, there will be no physical damage but there could be a financial loss, loss of sensitive information, vandalism, data theft, etc. The cyber-attack not only impacts the organization in question but could impact its consumers/ clients, vendors and other stakeholders, exposing their information or identity theft, financial loss, etc. A major indirect cost of a cyber-attack is the loss of brand image, reputation and goodwill.

It is extremely important for organizations to understand that cybersecurity is not just an IT issue and that it is a business risk. Organizations must put in place a dynamic plan and continuously engage in cybersecurity management, not stopping with the installation of high-tech infrastructure alone. If you are interested in pursuing a career in this field, you must enrol yourself in a cyber security course online.

According to the Forbes publication, the global security market will hit the $170 billion mark, by the year 2020. This will happen due to the advancement in technology, cloud-based applications, newer security-related products and trends and the onslaught of smart devices ecosystem along with the Internet of Things. These inventions and trends will require higher and more advanced levels of security tools and laws. An example of security laws is the latest European Union’s law called the General Data Protection Regulation (GDPR) and the Cyber Security Framework by the US authorities.

Cyber security refers to a set of technologies, practices and various processes which are designed in order to protect the networks, programs, devices and data in an organization from any kind of unauthorized access, theft, attack or damage.  It is also known as information technology (IT) security. The professionals who work in this field are trained through a cyber security course which teaches them all the basic skills required in this job. They further augment their learning on the job and through various advanced level certifications.

Cybersecurity protects information and systems from many types of cyber threats. There are threats like malware, ransomware, phishing, application attacks etc. With the advancement in technology, cyber attackers are able to attack at lower costs in a more sophisticated manner. Some cybert hreats can be serious enough to cause damage to government bodies, military, infrastructure and enterprises.

Some of the common threats are in the form of below-mentioned activities –

Cyber Terrorism

Sometimes terror groups use threats to spread their agenda. They may attack telecommunication and systems infrastructure.

Cyber Espionage

This form of threat happens when the attacker is trying to get secret information from an organization or an individual for political, military, strategic or other reasons. This is an illegal attack on information one is not allowed access to.

Cyber Warfare

When nations try to attack other nations by using information technology to penetrate the information networks and systems of the country they plan to attack, then it is called cyber warfare. It has been widely accepted as the fifth form of warfare, the first four being air, land, sea and space. Sophisticated hackers are utilised to perform this task by nations to get valuable data and disrupt critical services like medical, infrastructure and communication.

Cyber security has emerged as one of the top priorities of organizations and governments and they are taking stringent actions to continually protect themselves.

More Information:

Fundamentals of cyber security

What is a Cyber Security Attack?

6 Skills You Need to Succeed in Cyber Security

Explore Your Career Options with Cyber Security Certifications

Kick-Start Your Career With The Best Digital Marketing Course

Advanced Certificate Programme In Cyber Security from IIIT BANGALORE