Why Be Concerned About Cyber-Security?

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Why Be Concerned about Cyber-Security?

Introduction

Cyber security became ever more crucial for global business and modern society. We are living in a data-centric world in which information technology and associated communications' systems as well as networks that provide goods and services permeate every facet of our lives. This creates the safeguard of our digital assets and activities within cyberspace of critical importance, whether for individual life experience or a prosperous and sustainable society. But the challenge to understand cyber risk and deliver effective and accessible security becomes harder as technology continues to rapidly evolve and our systems become ever more complex. We are increasingly dependent upon such information and communications infrastructures, and the threats we face are organised and evolving the skills to exploit our dependency to further their interests.

There is an exigent need for creative ideas leading to the next generation of cyber security capability. Existing approaches are simply not able to meet the demands of a global society growing in cyberspace on the current path. New business models are forcing greater interdependency between people, organisations and nation states in order to successfully manage cyber risk. Success will necessarily require an ability to anticipate, deter, detect, resist and tolerate attacks, understand and predict cyber risks, and respond and recover effectively at all levels, whether individual, enterprise, national or across international markets. In order to meet the demands of the future we will require new understanding, governance, regulation, partnerships, skills, and tools.

1. The implication of cyber security for individuals, organisations and society

Before we address any issues relating cyber-security, we must look at the definition of the term in the first place. According to Wikipedia, cyber-security is called as computer security which is described as information security as applied to computers and networks. In other words, the protection of data and systems held and transferred in networks that are connected to the Internet. It is an extension of traditional IT security, and emphasises protecting systems, applications and data that exposed to a variety of forms of attack via the internet, ranging from data theft and espionage to corruption of data and denial of service attacks. Today, computers allow us to reach our financial needs readily through online banking, mutual fund management, stock trading services, and a variety of other online applications that provide access to accounts 24 hours a day. Beyond financial services, we have the ability to connect a broad variety of information, including social media content such as Facebook, Youtube, and Twitter, as well as magazines, video games, and other Web 2.0 content. The interconnectivity of such systems has not only provided individuals with access to a wide variety of data, but now businesses have the ability to leverage the Internet as a part of their day-to-day operations. Whether it be human resources management, email and coordinated calendar systems, or sales tracking systems, the cloud offers opportunity to businesses for quicker, modernised processes and potential cost savings. In addition to that, the government utilises interconnected computer system to manage public services such as energy systems, coordinated public transportation logistics, synchronised emergency services, management of water treatment facilities, and propulsion of technology for a variety of services advancing the public. However, personal, business and government use of computer systems, because of their inter-connectedness, opens these systems up to a variety of activities that they were never intended for. End-users without significant protection against viruses and other malware prevalent in today’s computer environment represent the greatest source of vulnerability to our current...
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