Increased reliance on technology brings along vulnerabilities too. Most businesses worldwide work on the concept of inventing something new every passing day. This is somewhat understandable because they intend to keep up with the technological pace.
But are they losing on the plot in the competitive run?
Yes it seems. The products and services they invest in, either come out premature or lack strength. They pass the quality assurance tests in terms of functioning and package but the other side goes unchecked and that is the area where cyber criminals focus on.
Data security is of extreme significance in the digital world we live in. Cyber criminals take confidence from the fact that the attention of an application developer is divided as it is focused more on adding features and enhancing customer experience. The architectural part from security perspective is less emphasized.
As per the recent report on global economic crime survey, cyber crimes are the second most reported crime in 2016. This is not healthier by any means. Among the organizational respondents, although 61% of the top executives expressed concern about cyber crime but only about half of them claimed to have a counter plan in place.
Increasing the budget allocation for cyber security is not enough. A two-way approach is the need of the hour. Acting on the proposals of government and cyber security teams, regular counseling of employees and strengthening of internal information security are some of the steps that should essentially be taken.
Hackers and cyber criminals are apparently a step ahead of security professionals. Even the best of the companies, with top professionals on board and deployment of the most progressive tools, haven’t been able to safeguard themselves in the recent times.
This signifies that not only the best in the business can be exposed but the cyber security measures are never sufficient and need to be developed incessantly.
Let’s take a look at some of the biggest cyber crimes and data breaches in the recent times.