Cyber Security a Big Risk

National News

Business Mantra News

In this digital era, we are living in highly networked world from individual Banking to global infrastructure. Although protection of those network from cyber-attacks become a big challenge for domestic as well as global organizations.

Cyber security is declared as one of the top five business risks by most of the business organizations. Recently a number of apprehensive Cyber-attacks like Wanna Cry, Lockey Ransomware and Petya have affected the computer system.

Cyber Security Risk is increasing due to worldwide extension of digital network as computer devices, online network and technology are becoming constitutive part of daily lives. Almost every financial system is largely dependent on the global network as they operate through this network.

Cyber Crimes are constantly increasing, despite the numerous efforts of Government Agencies and global organization. Cyber Crimes attack in two ways firstly to affect storage of data and secondly to corrupt major service sites. It may affect personal login password, intellectual property and other trade secrets. Last month, over 1 Million Google Accounts were hacked by the ‘Gooligan Android Malware’ and resultantly many e-mail addresses have been stolen by the Hacker.

Then the Hijackers became able to access Google Account, Google Photos, Google Apps and other sensitive information.

In order to fight dreadful hackers, it is needful to build up strong cyber security measures. Cyber criminal attacks across world, hence there requires both a global vision to scale up the security measures and to train more and more people to check for cyber security risks. Education pertaining to cyber security and about ethical hacking should be imparted through training camps.

The Government should tighten their legal system and incorporate punitive measures to deter cyber offenders.

Leading Stock Exchange BSE also advised market entities to take initiative measures to prevent cyber security crimes.

A separate fund should be maintained by the organizations like European Union has been maintaining for cyber security.

A survey conducted by KPMG reported that “79 per cent organizations identified cyber security as one of the top five business risks”, but despite that these organizations have kept less than 10 percent budget out of total planned expenses.

As the danger of cyber security is likely to increase in near future, hence different Information Technology (IT) and security measures must be explored to ensure cyber security across the borders.

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