Why is cybersecurity important?

There are a number of reasons why cybersecurity is important:

  • Although assaults on sensitive personal data are the most widely discussed, cybersecurity is vital since there are more occupations in the cyber area than merely protecting sensitive personal data. The banking sector, for example, is one that we frequently hear about. Because financial institutions are required to report cyber events, the majority of breaches are widely publicized.
  • On the other hand, because not all sectors have reporting requirements, many crimes go unnoticed. It is impossible to ascertain the quantity and frequency of assaults without obligatory reporting.
  • The International Monetary Fund believes that cybercrime costs the global economy $97 billion every year. The worst-case scenario, according to their calculation, is roughly $250 billion. Those losses, however, are not only the result of data breaches and the theft of sensitive personal information. Attacks against a country’s infrastructure are also included in estimates.

What happens when a power grid, such as the one in Ukraine, gets hacked? What does it cost healthcare facilities to be unable to treat patients due to an attack, like happened in Alabama? These assaults are more concerning since they have the potential to damage a country’s critical systems. The threat of catastrophic cyberattacks grows as the globe gets more linked. That’s why it’s so critical to hire additional cybersecurity experts.