Eportfolio # 7
What are the cost and benefits of developing cybersecurity programs in businesses?
Cybersecurity has benefited businesses in the last decade, considering the vast amount of information they have to keep safe from unauthorized users. Research has proven that companies lose millions of dollars to cyberattacks, and some businesses do not realize they are under attack until the aftermath. This becomes a significant blow as customers consider such business firms unsafe to keep their information. They lose a whole lot of revenue due to the customer base shrinkage. If the damage is very detrimental, the company can go as far as shutting down for a long time. Due to this loss, most companies refuse to report their breaches for the government to track how and ways to counter them.
Every business should have a well-thought-out and drafted plan. This should be versatile enough to counter any threats that surface over the years. This plan should be reviewed within a given time frame, and its dynamics be fully considered as the information changes. This will help the company prepare for any threats and have preventative measures for the business vulnerabilities. This increases the assurance of safety for the business’ customer base. Education within the business partners and the customers on the various types of cyber risks is of high importance. Lately, cybercriminals have developed the means of going through proxies to strike on the leading company itself. If it becomes tough for the attackers to access the company directly, they can go through partners and customers who can access it. With this education across the board, proper cyber hygiene can and will prevent a data breach. Even if there has been a breach, it will be discovered and countered as soon as possible to reduce the impact to save money and time. In my opinion, it is very critical to develop cybersecurity programs for businesses as long as they are kept in charge of my financial investments and personal information.
cited
ttps://www.helpnetsecurity.com/2015/07/23/the-challenges-of-implementing-tokenization-in-a-medium-sized-enterprise/