Cyber security is mainly discussed following a major cyber breach or attack, but the reality is that cyberattacks happen more than 2,200 times every day. And in the UK, 31% of businesses were attacked weekly in 2022.
At the global level, cybercrime costs trillions of dollars and impacts the organisations we rely on. This, coupled with the fact that more and more of our daily lives and business operations involve being online, means that cyber security is more essential than ever.
But what is cyber security, and why is there a global clampdown on it? In this article, we’ll explore the basics of cyber security, who it impacts, and why this topic has become an international concern.
What is Cyber Security?
Cyber security refers to the defences and systems in place to protect networks, computers, smartphones, software systems, and other digital items from cyber threats and attacks. These threats and attacks can range from stealing information, harming systems, and altering data to deleting data or exposing information.
The wide range of ways cyberattacks can occur has led to the distinction of multiple kinds of cyberattacks, including malware, phishing, and ransomware attacks. They’re defined by the different methods used to attempt to access networks or obtain sensitive information.
To address these concerns, multiple cyber security types have been developed (and continue to be updated and refined) with the aim of safeguarding entire systems and individuals. The different types of cyber security include network, application, operational, and cloud security systems. Cyber security also encompasses disaster recovery responses and business continuity plans in the event of a destructive cyberattack.
Who Needs to Focus on Cyber Security?
Cyber security, while something that can impact everyone, isn’t a top priority or focus for most individuals beyond installing anti-virus software on their devices.
However, cyber security is a significant point of concern for organisations (government and non-government) and businesses. It’s an especially important focus for organisations working with sensitive personal information, such as healthcare or financial data. The lines of cyber defences in industries like these need to be all-encompassing and preventative to safeguard users and organisations.
For organisations and businesses, having adequate cyber security goes beyond keeping personal information and finances secure. Cyber security also increases client trust and confidence in the company’s operations. Because of this, any company with an online presence has cyber security as a primary concern, from the sensitive industries mentioned above to those in the iGaming industry, like the sites found on casinos.com.
Why is Cyber Security a Global Issue?
Cyberattacks can come from anywhere and target anywhere. This wherever and anywhere nature means that cyberattacks aren’t stopped by borders, and the threats they pose have far-reaching consequences. Consequences that can significantly harm entire nations and the global economy — making cyber security a large-scale issue that needs addressing at a worldwide level.
But how can cyberattacks be so harmful? Well, it comes down to the fact that once a system or data is accessed, cybercriminals essentially hold all the cards.
Criminals can sell personal details (like credit card details, usernames and passwords, or even social security numbers), blackmail organisations looking to retrieve their data, limit or stop an organisation’s operations, or even delete records and data.
At an individual level, this can destroy lives by robbing people of their identities and human rights. At the organisational level, this means the loss of vast amounts of money and the destruction of reputations, both of which can lead to the collapse of an organisation.
Impacts like these have already been felt across the world. In Europe alone, the Swedish Coop grocery stores had to close due to cyberattack disruptions and nearly 20,000 medical appointments were removed from health trust systems after an NHS hack. The World Economic Forum estimates that trillions have been lost annually to cyber breaches and that the losses will only increase in the years to come.
What’s Being Done Globally to Address Cyber Security?
The many concerns presented by cyberattacks have led to calls for a ‘digital Geneva convention’ by tech giants like Microsoft. Progress with this has been slow because, as with any global issue, there are many nuances and factors to consider when developing solutions and action plans.
In 2019, the UN resolved to develop a cybercrime treaty. The aim of the treaty will be to establish legal parameters around cyber activities and determine what to do in the event of cyber misconduct. This process is still underway, so most cyber security measures today are set in place at the national level and vary from country to country.
The European Union, however, has established cyber security regulations across its member countries to protect users and organisations through the European Cyber Resilience Act. This act creates a consistent framework for effective cyber security methods to protect the European market.
A Global Cyber Security Clampdown is a Well-Founded Response to Cybercrime
The pressure on global authorities to develop strong global cyber security measures is understandable. Cyber threats have caused a great deal of harm and are happening at an increasingly rapid pace. Developing measures at a worldwide level serves to protect everyone with a digital footprint — and let’s be honest, today, it’s almost impossible not to have one.
Increased measures will not only help to protect information but will also provide a framework for what to do if an attack happens, helping to mitigate the extent of the negative consequences a cyberattack can have. Developing a global cyber security framework might be slow, but there is no denying that steps are being taken in the right direction.
