The article “Hacks, ransomware and data privacy dominated cybersecurity in 2021” by Bree Fowler discusses the large and small scale cyberattacks that have targetted organizations ranging from government agencies to supply chains. Moreover, this article also discusses how even technology companies such as Apple and Facebook were victims of cyberthreats that compromised the privacy of their users. It also discusses the high number of cases of hackers using ransomware against companies and how these attacks will only continue worsening if there is not sufficient measures put in place to combat them. Ransomware are a form of cyberattack that encrypt a business or personal computer and requires the victim to pay the hacker to have their systems restored and given back to them.
https://www.hp.com/us-en/shop/tech-takes/most-common-types-of-cyber-attacks
These cyberattacks have a number negative effects on the management of a company as well on the company as a whole outside of the obvious which is losing millions of dollars. These attacks can lead to a loss of trust for custiners and a huge blow to the reputation of a company (NIBusinessInfo, n.d.). A successful cyberattack on a company is basically saying that the company is not legitimate enough or secure enough to stop them from happening which is not a boost of confidence for a consumer especially when it comes to social media platforms where millions of users store sensitive personal information or stock trading platforms containing billions of dollars worth of investors’ money. Although these attacks can sometimes be hard to avoid or control, there are many resources out there to counter cyberattacks such as encrypting and backing up all data, securing hardware, employing a firewall and anti-malware software, using software such as LastPass in order to keep passwords secure and even purchasing cyber security insurance (Popat, 2018). It’s hard to disagree with such an important topic in this day and age and one that is and can be extremely detrimental and a massive obstacle to business management. Now more than ever, companies and governments are working everyday to not only managing the damage from these cyberattacks but developing technology that can help keep them at bay as hackers become more resourceful themselves as technology improves.
References
NI Business Info. (n.d.). Cyber Security for Business. Impact of cyber attack on your business. Retrieved January 25, 2022, from https://www.nibusinessinfo.co.uk/content/impact-cyber-attack-your-business#:~:text=Cyber%20attacks%20can%20damage%20your,loss%20of%20sales
Popat, A. (2018, July 19). Five ways to protect your company against Cyber Attacks. Entrepreneur. Retrieved January 25, 2022, from https://www.entrepreneur.com/article/316886
Cyberattack are a serious problem of 21st century. The daily number of such crimes exceeds 20 thousand per one day. I think that we need to put much more work in to fighting ransomeware and any other type of cybercrime. In our constantly developing world where AI is future we have to adress this issue.
Recent Wannacry and other attacks show how careful people have to be about this kind of thing. Not only managers of this kind of companies but also customers. People should check, if possible, the cybersecurity level of major organizations they are choosing as clients, to protect their personal data and, in some cases, money.
Good article. The topic is very urgent. We often look at innovations not considering that there may be some hidden issues with them. Unfortunately there are always some bad actors that want to do harm. Fortunately, however, there is more empasis put on teachning cybersecurity specjalists, so hopefully in the future cyber attacks will be less harmful.