Both individuals and businesses stand to gain in a variety of significant ways from enhanced levels of cyber security. It is able to protect your digital assets, such as emails, bank data, passwords, and other sensitive information, from falling into the wrong hands and causing you harm. This includes preventing the disclosure of sensitive information. This includes protection against malicious attacks that could cause financial harm to the company itself or to its customers, which could ultimately result in reputational damage that would affect sales. For companies, this protection includes protection against attacks that could cause financial harm to the company itself. The following is a list of some of the anticipated benefits of cyber security: protection of data against being accessed, lost, or deleted without authorization. The protection of one’s intellectual property is dependent on their efforts to root out dishonesty and theft in the financial industry. The prevention of espionage in cyberspace offers protection against fraudulent activity during financial transactions like wire transfers and other similar activities. Improves customer confidence. It makes a contribution toward the prevention of losses in monetary value. It offers protection against computer infections, a wide variety of harmful software, and ransomware attacks, with the goal of preventing data from becoming available to unauthorized users as a result of hacking, theft, or other similar activities. It prevents the hardware from being damaged, which could have an impact on the overall productivity. Let’s move on to the next topic and speak about how much cybersecurity costs. It is quite expensive to have a cybersecurity program, despite the fact that having one is incredibly necessary. Less than half a million dollars is typically spent on cybersecurity by small firms. The cost of cybersecurity for mid-sized companies ranges from $500,000 to $2 million annually. Large companies often allocate between $2 million and $5 million annually to cybersecurity efforts.