Introduction
The Internet has become part and parcel of everyday life. People interact, share vital data, and even transact online. Therefore, there is a need for protection against cyber-attacks.
Thesis: Without thorough network security measures, vital individual, organizational, and government information easily get exposed or leveraged against owners.
Overreliance on the Internet Increases the Risk of Losing Information to the Wrong Hands
Extensive reliance on the Internet increases the risk of losing information to the wrong hands. Network security should always be a top concern, regardless of the size of the company, if doing business through the Internet, using a local area network (LAN), or using any other method that is analogous to this approach. There is no such thing as a network that is secure; as a result, it is very necessary to have a security system that is dependable and efficient in place to protect important client information. Theft of data and malicious activity against a network might be catastrophic for any firm; however, an effective network security solution can help limit these risks (Nakhoul et al.). Network security may assist in protecting an organization’s workstations from potentially malicious software. A further advantage is the provision of secure data storage. The design of a network’s security provides many levels of protection against MiM attacks by segmenting data, encrypting it, and transmitting it over separate routes. These measures are used to prevent eavesdropping and other types of threats. When a person or company enters the world of the Internet, they expose themselves to the potential of being bombarded by overwhelming traffic (Nakhoul et al.). Extreme traffic levels can potentially reduce a network’s dependability and reveal vulnerabilities in its security. Increased network security measures, such as continuous monitoring for anomalous transactions that may be used to harm the system and cause it to go down, will increase the amount of time that a network is available to users.
Compromised Security System Results in Catastrophic Outcomes
A compromised security system can lead to catastrophic outcomes. Compromise is the term used to describe what happens when unauthorized individuals get access to sensitive information via a network. If they can read the information, they may take it without your knowledge and often modify it. There is the potential for several consequences, including data loss, corruption, the exposure of sensitive information, theft of intellectual property, and compliance with notification and compensation rules. According to research, the number of reported data breaches increased by forty percent between 2015 and 2016 (Wurm et al.). The costs incurred as a result of such disasters might be quite large, presenting a major threat to the continued existence of a corporation. It is essential for businesses to have a solid understanding of the threats they face and to implement preventative measures. Data breaches’ effects on companies are both significant and rising in scope. This rise is primarily attributable to the rising regulatory burden that must be met when alerting individuals whose data has been compromised. Any more data breaches may have catastrophic implications on the position of a firm in the market and in the general public’s view (Stine et al.). The purchase of Yahoo by Verizon is an example of how a data breach may influence not just the capacity of the business to meet its contractual responsibilities but also the company’s selling. In this case, Yahoo was acquired by Verizon. If your competitors discover your trade secrets and start offering comparable products at lower costs, it is possible that your firm won’t be successful.
Hacking can lead to revenue losses. The loss of money caused by wary clients fleeing in the face of cybercrime is one of the worst possible results of cyberattacks like hacking. When hackers attempt to extort money from businesses, the victims also suffer financial losses (Wurm et al.). Sony Pictures was attacked when the comedy The Interview, about an assassination attempt on North Korean leader Kim Jong Un, was about to be released in 2014. Information, including humiliating e-mails and employee performance reviews, was stolen by hackers.
However, North Korea has denied any involvement in the strike. According to the National Association of Theater Owners, Sony Pictures lost $30 million because it decided to yank the picture from cinemas in favor of an online release. Indirect expenses, such as a substantial disruption to operations, which may result in lost income, are a common consequence of cyberattacks for businesses, on top of the direct financial losses (Wurm et al.). By infecting computers with malware that deletes sensitive data or by placing malicious code on a server that prevents users from accessing a website, cybercriminals may severely impede a business’ ability to function normally. To bring attention to an issue or make a company more open, “hacktivists” may break into their targets’ computer systems. While the exact damage caused by a cyberattack is difficult to measure, major incidents may severely damage a company’s reputation.
Customers and even vendors may feel less confident in trusting a corporation with their private data after learning that it has been compromised in the past. As a result of a security failure in 2013 that exposed the credit card information of more than 40 million consumers, retail giant Target (TGT) had to pay $18.5 million to resolve the incident and repair its damaged image. In 2014, JPMorgan Chase & Co. (JPM) was also hit when crooks broke into their customer database and stole sensitive information (Stine et al.). A total of 76 million residential accounts and 7 million commercial accounts had their contact information compromised. Research implies that publicly listed corporations will face a temporary decline in market value in addition to diminished institutional trust.
Hacker’s Access to Critical Governmental Data
Security breaches can grant hackers access to critical government data. The FBI lists the cyber threat to the United States as one of the top 20 issues of the new millennium. Although the Internet has many benefits, the security of a nation’s networked systems is a major weakness, especially in the public and private sectors (Slaughter). Theft, tampering, and destruction of most government’s critical material, and, worst case scenario, remote manipulation of the process control applications meant to ensure the smooth operation of segments of vital infrastructure are all within the capabilities of an increasingly diverse array of advanced state and non-state actors. Moreover, a growing number of people have the resources and the will to use computers for malicious and perhaps catastrophic ends.
A government institution such as the FBI considers both the technical ability and the motivation of its cyber adversaries when determining the severity of the cyber threat. The most skilled attackers can remotely compromise an organization’s networks, reroute and monitor its mobile networks, plant hazardous outsiders inside its commercial sector and government institutions, and modify its hardware and software along the international logistics route. Multiple nation-states and probably some organized criminal organizations are among the players that now have these abilities. This is a conclusion apart from whether and when they are employing them (Dawson et al.). The cyberspace adversary’s technical position for data theft often grants them access and systems administrator privileges that may be utilized for malicious ends, such as hackers selling crucial government data to terrorists, whereby the terrorists can then use the stolen data to launch attacks or even use it to compromise vital government services. It is also possible that when the government falls into the wrong hands, such as terrorists, these groups may utilize the data to conduct assassinations, enhance their kidnapping strategies, and boost their hijacking procedures.
Again, it is important to note that cybercrime is driven by financial gain and often does not entail acts of physical violence or damage to computer networks when members of organized criminal organizations commit it. The practice of extortion stands out as an exception to this general rule. Cybercriminals can threaten to hold whole networks hostage, or even only the data stored on such networks, to get what they want (Slaughter). In many cases, those who commit cybercrime have the technical expertise and the access necessary to carry out the threats they make, particularly when an insider is involved. As per the FBI, Protecting the United States against cyber-based assaults and high-technology crimes is not only one of the taskforce greatest priorities, but it is also its highest criminal priority. This is because of the severity of the issue. The task force’s Cyber Division was established with these considerations in mind. Its mission is to investigate all types of online criminal activity and issues about the nation’s cyber security.
Conclusion
Loss of information in the wrong hands can lead to detrimental consequences. Individuals, businesses, and governments can suffer insurmountable losses when poorly secured networks become a loophole for the malicious intentions of hackers. Secure network systems enhance the safety of vital data, making it less accessible to the wrong hands in an era when almost every activity takes place over the Internet.
Works Cited
Dawson, Maurice, et al. “Understanding the challenge of cybersecurity in critical infrastructure sectors.” Land Forces Academy Review 26.1 (2021): 69-75.
Nakhoul, Laurette, et al. “Attachment style and addictions (alcohol, cigarette, waterpipe and internet) among Lebanese adolescents: a national study.” BMC psychology 8.1 (2020): 1-10.
Wurm, Jacob, et al. “Introduction to cyber-physical system security: A cross-layer perspective.” IEEE Transactions on Multi-Scale Computing Systems 3.3 (2016): 215-227.
Slaughter, Sith. “Cybersecurity Considerations Impacting the US Critical Infrastructure: An Overview.” (2022).
Stine, Ian, et al. “A cyber risk scoring system for medical devices.” International Journal of Critical Infrastructure Protection 19 (2017): 32-46.
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