Cybersecurity refers to various technologies, human activity, process, methods, and governing policies put in place by cybersecurity professionals to protect an organization’s digital assets, computer networks and systems against cyber-attacks (people, process, and technology). These cyber-attacks are usually aimed at accessing; changing; destroying sensitive information; extorting money from users or interrupting normal business processes.

Cybersecurity aims to reduce the risk of cyber-attacks and protect against the unauthorised exploitation of systems, networks and technologies.

Why is cybersecurity important?

Organizations have become far more vulnerable to cyberthreats/cyber-attacks because digital information and technology are now so heavily integrated into day-to-day work and operations. The number of people, devices, and applications in a businesses rises in tandem with the flood of data, most of which is private or confidential. Organisations are battling to keep up with the cyber-attacks as the attacks are becoming far more sophisticated and target both information and critical infrastructure. This issue is exacerbated by the digital transformation we have been experiencing in the last few years, from number of connected devices per person, accelerated cloud adoption to internet-enabled home security systems and much more.

Common types of cybersecurity threats

Although cybersecurity professionals work hard to close security gaps, attackers are always looking for new ways to escape IT notice, evade defense measures, and exploit emerging weaknesses. These cybersecurity threats are putting a new spin on “known” threats, taking advantage of work-from-home environments, remote access tools, and new cloud services. These evolving threats include:

• Malware – a type of software designed to gain unauthorized access or to cause damage to a computer.
• Ransomware a type of malicious software that is designed to extort money by blocking access to files or the computer system until the ransom is paid. Paying the ransom does not guarantee that the files will be recovered, or the system restored.
• Social engineering – a tactic that attackers use to trick you into revealing sensitive information. They can solicit a monetary payment or gain access to your confidential data.
• Phishing – the practice of sending fraudulent emails that resemble emails from reputable sources. The aim is to steal sensitive data like credit card numbers and login information.

How to manage cybersecurity threats?

• Update your software and operating system
• Use anti-virus software and firewall
• Use strong passwords and password management tool
• Do not open email attachments from unknown senders
• Do not click on links in emails from unknown senders or unfamiliar websites
• Avoid using unsecure WiFi networks in public places

What are the benefits of cybersecurity?

The benefits of implementing and maintaining cybersecurity practices include:

• Business protection against cyberattacks and data breaches
• Protection for data and networks
• Prevention of unauthorized user access
• Enhanced ability to get back up and running after a security compromise
• Protection for end users and endpoint devices
• Regulatory compliance
• Business continuity
• Improved confidence in the company’s reputation and trust for developers, partners, customers, stakeholders, and employees.

Who is responsible for managing cybersecurity?

A 2021 Gartner survey found that the CIO, CISO or their equivalent were held accountable for cybersecurity at 85% of organizations. Non-IT senior managers held accountability in only 10% of organizations surveyed, and only 12% of boards have a dedicated board-level cybersecurity committee.

Cybersecurity is interconnected with many other forms of enterprise risk, and the threats and technologies are evolving quickly. Given this, multiple stakeholders must work together to ensure the right level of security and guard against blind spots. To ensure adequate security, CIOs/CISOs should work with their boards to ensure that responsibility, accountability and governance are shared by all stakeholders who make business decisions that affect enterprise security.