Online consumer activity is at an all-time high. From online banking to e-commerce, customers across the country have left manual processes behind.
Though moving consumer data online has boosted efficiency and connected thousands of customers to sellers across the world, there are also risks involved. Hackers and cybersecurity threats to information systems are increasing by the day, resulting in stolen consumer and company sensitive information.
Many companies lose their reputation and are driven to bankruptcy from one of these attacks. Because the stakes are so high, organizations across the country seek to ensure proper cyber security measures and security controls are in place to protect computer information from being stolen, lost, or misused.
Both small and large companies must make sure to invest in an optimized security policy to protect themselves and their customers.
Read ahead for an overview of the importance of ensuring information assurance and maintaining system security measures in the digital age.
The Stats on Cyber Security:
The Importance of Information System Security
Information systems security refers to the protection of data and business intelligence systems against unauthorized usage or tampering of information either when in storage, processing, or transport. Computer security measures encompass all of the security management methods utilized to pinpoint, record, and prevent any security threats.
Because organizations are collecting and storing large quantities of data in databases and other intelligence networks, they must ensure proper security policies and best practices are in place.
If a customer or financial data is stolen or tampered with, it can result in financial harm, a damaged reputation, and litigation. As the need for information system security grows, there is an increase in security analyst professionals ready to assist these organizations.
Those who seek to protect data struggle with attacks on-
- Malware - Hackers attack portions of software by using malicious code to cause damage to data.
- Vulnerabilities - Criminals look for information systems security vulnerabilities such as negligence or a lack of investment in security measures. Older equipment and unprotected networks are especially vulnerable to an attack by hackers.
- Phishing - Attackers seek to gain access to personal data by pretending to be someone related to an employee at the organization. For example, a hacker may write an email with a stolen work address to gain the trust of another worker.
- Offline System - Hackers attack the stability of offline computer systems by generating crashes that hurt the company's reputation.
- Misuse of Data - When unauthorized individuals inside or outside the organization attempt to gain access to inside information, they are typically hackers.
1. Ensure Compliance
Bankers, the healthcare industry, and online companies collect vast amounts of confidential customer information every day. Unfortunately, consumers in the United States account for 47% of all fraud even though they only constitute 27% of all credit card transactions worldwide.
Hackers have become increasingly sophisticated in their methods, forcing organizations to invest in further security to prevent a breach. Regulations have been put in place to protect consumers and ensure that companies comply with certain security measures.
Because these regulations can be complex and difficult to navigate, hiring an information system security professional can help ensure compliance is met.
2. Prevent Bankruptcy in Smaller Companies
Many small to mid-sized companies believe they are immune from a breach and only put minimum protections in place as a result. This is an unfortunate mistake, as their lack of protection results in many successful attacks by hackers.
Though larger organizations tend to receive a larger percentage of attacks and threats, their increased resources make them less likely to suffer as much financial harm as a small business. In summary, having valuable information leaked or stolen leads to enormous financial problems that can destroy a small company with minimal resources.
3. Protect Internal Data
The media typically focuses on stolen consumer data incidents, but protecting valuable company information is also essential. Financial documents, legal paperwork, and tax information can be misused by disgruntled employees or another type of attacker.
Because organizations hold years' worth of valuable internal data, they must do everything possible to protect themselves. If company data is stolen or misplaced it can result in a ruined reputation, litigation, or bankruptcy.
Fighting Cyber Attacks:
In conclusion, here are the key takeaways to remember about information system security-
- Information system security involves the protection of valuable consumer and company data from internal and external attacks. This requires a security program in place to monitor and protect data during storage, transport, and processing.
- Because organizations hold large quantities of information, they must protect their customers and maintain confidentiality integrity.
- Key information security struggles include malware, vulnerabilities, phishing, offline systems, and misuse of data by employees or others.
- An information security policy and security management is important to organizations to ensure compliance with federal regulations to protect consumers, prevent bankruptcy in small to mid-sized organizations, and protect valuable internal information from a disgruntled employee or outside attacker.