There are both costs and benefits in developing cybersecurity programs in business. One of the costs of these programs is putting lives at risk, for example if there is a cybersecurity attack on the power grid this can result in loss of power to an area, making systems at risk for an attack or lives lost if there are people on life support in the area where the power is lost. Computer security is the essential issue around problems related with technology. Another cost is financial burden on a company or even individuals because of an attack on systems, with the potential to force a company to shut down due to the attack or a person to claim bankruptcy. Having cybersecurity programs does not guarantee that a business will not experience or even commit cybercrimes themselves. This can be the result of a disgruntled employee seeking revenge on the company and creating a malicious code or some other form of cybersecurity attack. Ensuring secure systems allows the business to achieve their goals to protect confidentiality, integrity, and availability of information. There are also both internal and external losses because of poor cybersecurity; some internal losses can be detection costs, investigation costs, containment costs, recovering costs or ex-post responding costs. The external losses can be business disruption, damaged equipment, or revenue loss. It is estimated that the average global loss to cyberattacks is around $7.7 million a year.
A benefit for developing cybersecurity is that there are more and more jobs being created due to booming technology use in our modern world and the need for secure systems. Another benefit of cybersecurity programs in business is if maintained properly, creating a greater security level for companies and personal information of customers. Reliability leads to trust between the company and the consumer, leading to the potential for more clients from word of mouth, expanding the business.
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