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Question:

Discuss about the Challenges in Cyber Security for Business.
 
 

Answer:

Introduction

Cyber security has become one of the major challenges for the businesses in the present years and this is due to the rapid technological development at a global level. The cyber threats are growing at an alarming rate because of increased use of computers, internet, mobiles and other devices. There are different types of cyber threats like malicious attacks, viruses, network attacks, etc. and to fight these attacks, there are various cyber tools which develop the security mechanism and help in overcoming the cyber threats (Clemente, 2013). In this Literature review the challenges in Cyber security for business will be discussed by going through many secondary sources. The views of different authors will be discussed by analysing them.

Project Scope

The scope of the project is wide as Cyber security is a buzzword nowadays which is to be adopted by every business to protect their privacy and security of their data and information. This project will focus on the types of threats and challenges which has to be taken care by cyber security measures adopted by the businesses.

Project objective

The main objective of the project is to focus on the challenges in present environment of business which the companies face in maintaini9ng cyber security for the purpose of securing the data and information of the business which should be confidential.

 

Literature Review

Cyber security can be understood as the measures, practices and technologies which are adopted to protect the networks, data, information and systems of the business from attacks and damages from unauthorised access. It can also be understood as the security of information technology.

According to Kaplan, Sharma & Weinberg (2011) Computer technology is very beneficial for the growth and development of the businesses today but they are also affecting the security of the business data with cybercrime. That is why, Cyber security is important for the business but there are some challenges in Cyber security which have to be met to increase the effectiveness of the same. These challenges may includes the more access and use of technology, lack of funding, lack of knowledge about the cybercrime and cyber security, pervasive digital data, interconnections of supply chains and ignorance of the effects of cybercrime by the businesses.

As per Lord (2017), Cyber security is a big business issue because of the abundant use of technology in the businesses these days. The cyber criminals collect data from different sources and try to breach the privacy of the business. The businesses irrespective of their size are becoming the prey of the cyber-attacks which ultimately harms the business. The government of USA has considered cyber security as the most critical issue in the current times. Cyber security needs much more engagement from the top, middle and lower management of employees to secure their data on an individual level. Cyber security needs to be reformed and checked time to time to keep it updated and to face the challenges in a much better way than ever before. Some of the other challenges of cyber security to business include network security, application security, data security, security infrastructure, cloud security, mobile security, education and awareness in users.

In the opinion of Babate, et. al. (2015), the increase in the growth of internet is one of the main challenges to the cyber security in 21st century. Then, the emergence of smartphones, laptops and other digital devices enhanced the threat. Some of the emerging challenges and threats in cyber security to business are explained as below:

Phishing

Phishing is a threat which is due to internet and here the client’s credentials are gathered by using deception technique. It is a fraud done through internet in which the client’s passwords, account details, card details are taken and used for wrong purposes.  In July 2011, a person was sentenced to jail for 12 years for stealing the information of more than 38 thousand people (Foreshew, 2017).

Botnet

It can be explained as the network of computers which are controlled by Cyber criminals for the purpose of crime and breaking the law. It gives rise to spam and viruses which ultimately affects the whole network of the computers.

 

Malwares

Malwares and Spywares are basically programmed systems which are designed to collect information from the computer systems of the client. These can be a big threat to the businesses (Chertoff, 2008).

Key Loggers

These are the programs which are recorded on the keyboards of the client and when they on it later on, the information are recorded. The private information then can be used for accessing their accounts and cards and misuse can be done.

Social Engineering

It can be referred to the science or technique which is used to trap the client so that they reveal their valuable information. It is like the human interaction which is used to build honesty and then using it for the criminal purposes (Gharibi and Shaabi, 2012).

Virus

Virus can be explained as a program which spreads from one system to another and multiplies like this. This is designed to harm the computer systems and the information in it. It can also spread through external devices in the systems like pen drives.

The history shows that these threats have affected the businesses in some or the other way form past few years and from this it is realised that there are some positive as well as negative developments in the cyber security. It is seen that the cyber criminals have now become more active and their activities have grown in business in recent years. The crime increased with the increased use of mobile Also, the emergence of digital technologies like Cloud computing and Internet of things have also contributed to the development of cyber-criminal activities. On the contrary, the good developments have also experienced. The government have become active for the protection of confidential data and security and a strong internal cyber security policy has been framed to cease the spread of cybercrime. The vendors and businesses have now become proactive and constantly update their security systems for better safety. To fight cybercrime, the businesses have come together (Kaplan, 2015).

 


The business in particular, faces the threats to their network of computers through encryption of USB’s, connectivity of third party devices, encryption of disks, etc. Also, some of the factors which pose challenge to the Cyber security in Business include:

  • Lack of leadership: It is a big challenge as correct actions need to be taken in the businesses for fighting the cybercrime and managing cyber security. An effective leadership is required handle the issues related to security (Donaldson, et al, 2015).
  • Collaboration issues: Collaboration is required in the organisations to fight together with cybercrime. Every company or vendor needs collaboration in order to withstand cybercrime (Mowbray, 2014).
  • Lack of Education and awareness: the demand of the ICT workers will increase with the time and right now there are very less workers of ICT which shows the lack of knowledge and awareness of ICT among employees.  Education is required to instil knowledge among people to handle the cyber security issues and to develop good policies for the same. The sector needs to be educated and aware about the risks.
  • Legal and Regulatory issues: There should be some regulatory limitations for limiting the breach of privacy and to facilitate better cyber security.
  • Increased use of technology: The heavy dependence on technology has opened the gates for the cybercrime.
  • Increased number of users of internet: the increase in the number of users of internet and technology has given chances for the attackers to attack as the nu7bers of targets have also been increased (Grocke, 2017).
  • Ease of access to tools: The cyber criminals now can easily access the software’s and tools which are used to commit crime which have given encouragement to the cybercrime.
  • Ease of access to information: the information nowadays is easily available on internet and other platforms which help cyber criminals to accomplish their goals. They can easily access the passwords and commit the crime. As per the report by ACS, 63% of the breaches happen due to weak passwords or stolen passwords.
  • Lack of control: the lack of mechanisms to have a control on the cybercrime leads to the challenge to cyber security. Lack of governmental laws and control contributes to it. Also, the funding issues are faced by the vendors which also encourage the criminals to carry on their activities.

In the opinion of James (2016), it is very important to secure the future of Australia so that it can deliver productivity, innovation and business without getting affected by any cybercrime. He further adds that as the technology have evolved; it provided some of the opportunities but also posed some challenges. Cyber security is not optional but is essential for the business and the security of its data and information. As the world is in transition phase, becoming global and online and each and every data is stored stored either in a gadget, application or any other online platform, it is now essential to develop the information systems globally.

 


Minimising the impact of cybercrime or combating the attacks of virus’s spams and other threats to the hardware’s or software’s is called the practice of cyber security.  Most of the industries which are targeted include Manufacturing, Information technology, transportation, Financial service3s, healthcare and public services. Cyber security is also about people. If people understand the basic need to maintain cyber security and to handle the cyber threats, cyber security will become much easier.  Cyber security is becoming a challenge because most of the hackers take minutes to breach the data but the companies take weeks or months to recover from the same. Because of the mistakes done from the employees end, the companies have lost much of their asset value. In cyberspace, every minute an attempt of attack is made (Hall, 2016).

Looking into the future, the countries will have to become active and emerging cyber security solution providers. The risk from the systems cannot be eliminated completely but it can be minimised. The cyber-attacks are costing too much to the businesses which can be as high as $500 billion per year. Cyber security creates opportunities for the industries as it creates wealth for the businesses, it can also be seen as a provider of employment. For Australia, Cyber security is pivotal to its future and for the benefits of the society. For encouraging the businesses for maintaining good cyber security, the government should set best policies and procedures. There should be effective laws and regulations which limits the activities of cyber criminals. It is important to ensure that the staff of IT and specialists in the IT department should be trained effectively so that the business could monitor its activities and save its data and information (Kostopoulos, 2013).

The businesses should get on to the new business driven model for cyber security. The companies now have to see that how the technology assets of the company should be protected from the malicious damage and other attacks. For e.g. in the business devices, the specialists should be restricted to used it for their personal use. Cyber security should be made as a key part of the business strategy of the company. The senior executives should be involved and the collaboration should be made in the top and lower management of employees to understand the importance of maintaining high cyber securities in the business (Wright, Dawson and Omar, 2012).

The cyber security strategies should be constantly updated as the needs and requirements of the business evolves in the 21st century at a rapid pace. The individuals can protect the data at their own level like the passwords should be changed constantly, the training should be attended seriously and it should be taken as own responsibility to secure the organisational information. Cyber securities in the businesses are posed too many challenges because of which the effectiveness of the protection is hampered. The serious challenges also includes the continuous efforts from the side of hackers, changes in requirements, global connections, the time lag between data breach and detection of breach and frequent  attacks (Nojeim, 2010).

Conclusion

It can be concluded that in today’s scenario when the cyber security challenges are prevalent, a lot to be done to face these challenges. The government of Australia need to reshape and boost up the strategies which help in meeting the challenges of Cyber security. The nation will have to pay more attention to include the courses in the universities which educate the young talents about cyber security and related subjects. This will generate the employment opportunities and will also lead the growth and development of the nation and its businesses to the next level. Different types of threats and challenges of cyber security have been discussed which affect the cybersecurity adopted by the nations. It encourages the cyber criminals to enhance their activities and this affects the businesses of the nation. This ultimately affects the productivity and revenue of the companies. The companies could train their employees or could regularly update their systems in order to protect their systems from cyber-attacks. This will help the companies to integrate the data and to protect it from getting it breached. It can be said that prevention for the future years will have to be done for making the safe future for the country.

 

References

Babate, A I, Musa, M A, Kida, A M & Saidu, M K 2015, ‘State of Cyber Security: Emerging Threats Landscape’, International Journal of Advanced Research in Computer Science & Technology, Vol. 3, Issue 1.

Chertoff, M. 2008, "The cybersecurity challenge", Regulation & Governance, vol. 2, no. 4, pp. 480-484.

Clemente, D., 2013, Cyber security and global interdependence: what is critical?. Chatham House, Royal Institute of International Affairs.

Donaldson, S.E., Siegel, S.G., Williams, C.K., Aslam, A., SpringerLink (Online service) & Books24x7, I. 2015, Enterprise Cybersecurity: How to Build a Successful Cyberdefense Program Against Advanced Threats, 1st edn, Apress, Berkeley, CA.

Foreshew, J 2017, ‘Australia faces cyber security skills crisis as challenge’, Financial Review.

Gharibi, W & Shaabi, M 2012, ‘Cyber Threats In Social Networking Websites’, International Journal of Distributed and Parallel Systems (IJDPS), Vol.3, No.1.

Gharibi, W and Shaabi, M 2012, ‘Cyber threats in social networking websites’, arXiv preprint arXiv:1202.2420.

Grocke, D. 2017, "Emerging cybersecurity threats in large and small firms", Bulletin (Law Society of South Australia), vol. 39, no. 3, pp. 20-22.

Hall, P. 2016, "Smaller banks face cybersecurity challenges", Westchester County Business Journal, vol. 52, no. 46, pp. 15.

James, C 2016, ‘Cybersecurity: Threats Challenges Opportunities’, ACS.

Kaplan, J, Sharma, S & Weinberg, A 2011, ‘Meeting the cybersecurity challenge’, McKinsey & Company.

Kaplan, J.M. & Books24x7, I. 2015, Beyond cybersecurity: protecting your digital business, 1st edn, John Wiley & Sons, Inc, Hoboken, New Jersey.

Kostopoulos, G.K., 1939 & Books24x7, I. 2013;2012;, Cyberspace and cybersecurity, CRC Press, Boca Raton, Fl.

Lord, N 2017, ‘What is Cyber Security?’, Digital Guardian.

Mowbray, T.J. & Books24x7, I. 2014;2013;, Cybersecurity: managing systems, conducting testing, and investigating intrusions, 1st edn, Wiley, Hoboken, New Jersey.

Nojeim, G T 2010, ‘Cybersecurity and Freedom on the Internet’, J. Nat'l Sec. L. & Pol'y, 4, p.119.

Tonge, A M, Kasture, S S & Chaudhari, S R 2013, ‘Cyber security: challenges for society- literature review’, IOSR Journal of Computer Engineering, Volume 12, Issue 2.

Wright, J, Dawson, M E and Omar, M 2012, ‘Cyber security and mobile threats: The need for antivirus applications for smart phones’, Journal of Information Systems Technology and Planning, 5(14), pp.40-60

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