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What you need to know about cybersecurity in 2022 | Roozer Technologies

• By Team Roozer
• 16 Feb 2022
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The application of technologies, processes, and controls to protect systems, networks, programs, devices, and data from cyber attacks is what we call Cyber Security. 

Technology is continuously evolving in the current digital sphere, where any piece of information is accessible from anywhere at any time, so data privacy and protection stand at great risk. 

With Cyber Security we aim to protect and reduce the risk of cyber-attacks against the unauthorized exploitation of systems, networks, and technologies. 

With Roozer Technologies, a  cyber security company in Odisha you get to enable enterprises to effectively identify potential cybersecurity incidents, facilitating preventive action with a cohesive approach that leverages powerful technologies such as Analytics, Machine learning, and Automation. 

What is the Importance of Cyber Security? 

Cybersecurity sheds light on valuable insights about the state of cyber and perceptions about the current path of cyber resilience. The researches suggest that a perception gap exists between security-focused executives and business executives. 

• The rising cost of Cyber Security Breaches: There are non-financial costs to be considered, like reputational damage. Also, privacy laws can mean significant fines for organizations that suffer cyber security breaches such as the GDPR (General Data Protection Regulation) and DPA (Data Protection Act) 2018. 

• Sophisticated increase in Cyberattacks:  With attackers using an ever-expanding variety of tactics, Cyberattacks continue to grow in sophistication including social engineering, malware, and ransomware. 

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• Critical, board-level issue: Cyber security risk oversights a challenge with new regulations and reporting requirements. Assurance is required to the board from management that its cyber risk strategies will reduce the risk of attacks and limit financial and operational impacts. 
• Cyber Crime became a business:  The world economy loses more than $1 trillion (approximately £750 billion) each year, according to The hidden costs of cybercrime, a 2020 study carried out by McAfee and the CSIS. 

Types of Cyber Threats

You are taking it wrong if you think you aren’t the target of cyberattackers, most cyber attacks are automated and aim to exploit common vulnerabilities rather than specific websites or organizations. Some of the common threats are: 

• Malware– Ransomware, botnet software, RATs (remote access Trojans), rootkits and bootkits, spyware, Trojans, viruses, and worms.
• Backdoors– Allowing remote access.
• Formjacking– Insert malicious code into online forms.
• Cryptojacking– Installing illicit cryptocurrency mining software.
• DDoS attacks– Flood servers, systems, and networks with traffic to knock them offline.
• DNS poisoning attacks– Compromising the DNS to redirect traffic to malicious sites.

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Cyber Resilience Addressing Gaps

Shedding light on valuable insights about the state of cyber and perceptions about the current path of cyber resilience, researches suggests three main perception gaps between security-focused executives and businesses. 

• Prioritizing cyber in business decisions: Only 55% of security-focused executives surveyed agree with the statement that cyber resilience is integrated into enterprise risk management strategies while 92% of business executives surveyed agreed. 
• Gaining leadership support for cybersecurity:  A smaller number (68%) see cyber resilience as a major part of their overall risk management while 84% believe that cyber resilience is considered a business priority in their organization with support and direction from leadership. 
• Recruiting and Retaining Cybersecurity Talent: According to research, owing to the shortage of skills within their team, 59% of the respondents find it challenging to respond to a cybersecurity incident. The majority of respondents ranked talent recruitment and retention as the most challenging.  Those who perceive their ability to respond to an attack with adequate personnel as one of their main vulnerabilities, business executives appear less acutely aware of the gaps than their security-focused counterparts. 

The ransomware attacks are at the forefront of cyber leaders’ minds, ransomware was one of their biggest concerns when it comes to cyberthreats as indicated by 50% of respondents. Ransomware attacks were followed by social engineering attacks as the second-highest concern for cyber leaders and are increasing in frequency and sophistication.

Cyber Resilience of Small & Medium Businesses

Cyber resilience of small and medium businesses (SMBs) is seen as a critical threat to supply chains, partner networks, and systems. 88% of respondents indicated that they are concerned about the cyber resilience of SMBs in their ecosystem in research. At a time when the world was supposed to stay apart, significant digitalization has provided a pathway for engagement and connectivity. Its benefits are clear along with the threats. We maintain a trusted, secure, and protected digital environment for assurance, it is imperative that leadership teams better incorporate cybersecurity and break down siloes both within and between organizations to improve cyber resilience.  

To meet the global needs of Software catering, Roozer Technologies, an IT company in Odisha, came up with an agile and robust methodology for our business clients within the time and budget frame.

Although cyberattacks aren’t going to stop any time soon, there are clear and concrete steps that leaders can take to best prepare themselves and their organizations for an attack, since there isn’t any magic bullet been found to resolve all the issues in cybersecurity. Contact us for more info!