Cybersecurity: 3 in 1- Beginner's Guide+ Tips and tricks+ Advanced and Effective measures to secure your Cyber Networks by Lewis Elijah

Author:Lewis, Elijah [Lewis, Elijah]
Language: eng
Format: azw3, epub
Published: 2020-07-28T16:00:00+00:00

Cyber-attacks have various intents. One such common motive is to disrupt the operations and processes of a business that ultimately results in the loss of sales. Such a breach can start by hampering the daily operations of a business or by blocking customer payments through electronic payment methods such as PayPal, Visa, and MasterCard.

The breach will directly put a halt to sales of the target business. Furthermore, the business that is targeted will experience many indirect consequences, such as the loss of customer satisfaction, reputation, and trust. These indirect impacts result in further loss of revenue that can slowly cause a company to go bankrupt.

Loss of Property

A cyber-attack can damage or destroy computer systems and hardware that belongs to a company. These costs vary depending on the type of attack and the target company. However, most companies would prefer not to bear the burden of a damaged computer system that would result in the need for new hardware that usually costs a lot of money.

However, cyber-attacks pose a greater threat to the electronic property that a company owns or stores. The data that a business either owns or stores is under the constant threats of breaches. A successful breach can result in the loss of valuable data and privacy.

Data breaches can have varying impacts on businesses. The business will first need to bear the cost of losing the data. However, things do not end there. The business will go on to experience further indirect and long-term damages, including the loss of reputation and revenue.

Privacy Lawsuits

Many businesses store data that belong to their customers and other parties. In the event of a breach, the owners of those data or those who are affected by the leaking of such data may sue the business. There have been many similar incidents over the past few decades. Some businesses that were on the verge of mergers have faced serious losses due to the impacts of such lawsuits.

Extortion Losses

Cyber-criminals often demand ransom after stealing data through a successful cyber-attack. Many businesses are often left with no other option than to pay the ransom to protect the data from being leaked by the attackers. Ransomware encrypts data and makes them unusable. In such situations, the businesses are forced to pay the ransom to regain the inaccessible data. These extortion losses can impact businesses in many ways, including the loss of funds and other resources.

Disruptions to Operations

Every business likes to do things its own way. The employees are trained to follow procedures and processes that are unique to many organizations. Over time, employees and decision-makers become familiarized with the processes while the management continuously invests in making the operations become more efficient.

Cyber-threats can disrupt the processes that have been followed by a business for decades. It may result in a company having to disrupt how its employees work to eliminate cyber-threats. Such disruptions can have a huge impact on a business when it comes to its productivity and efficiency.

Furthermore, the business will need to train its employees to follow the processes that are identified or changed.

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