Unless you understand the reasoning behind implementing cyber security on your network, you may just believe that it is another unnecessary overhead. 777 Networks are here to explain the 6 main benefits of using cyber security, including some simple ways to keep your computer network safe.

So, what are the 6 benefits of using cyber security? Using cyber security for your network can protect you from both external and internal threats, improve business productivity, help company reputation in terms of data protection, help you to save money by preventing cyber security issues, and ensure you meet relevant cyber security regulatory requirements.

Keep reading to find out more about cyber security as well as some real life examples of when cyber security was not implemented. 

 

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What are the 6 Benefits of Using Cyber Security?

Examples of Bad Cyber Security?

Simple Ways to Keep Your Computer Network Secure 

6 Benefits of Using Cyber Security

Cyber security involves the application of technologies, processes, and controls in order to protect systems from unauthorised cyber attacks. This may include the protection of data, passwords, and important documentation which, if accessed, may lead to the exploitation of privacy. According to the Government, in the past year 39% of businesses have reported a cyber attack issue. Implementing cyber security can provide an array of benefits that you may not be aware of, therefore we have detailed the 6 main benefits of doing so below.

 

  • Protection Against External Threats 
Protection from external threats is one of the main benefits of implementing cyber security on your computer or network. This will allow you to browse the internet, download resources and access private company documentation, with the peace of mind that you have that extra layer of protection. 

By having cyber security systems in place, you will be able to identify when devices are being exploited. This is becoming even more important now that companies are beginning to implement work from home policies where employees are using company devices via unprotected personal WiFi.

  • Protection Against Internal Threats 
Despite endless employee training and reminders, the fact still remains that one of the biggest threats to cyber security is human error. Ranging from unintentional error of password sharing, to intentional ill-natured cyber threats from former employees of even trusted partners, internal cyber threats are a big  issue. 

Implementing cyber security measures such as active monitoring and restricted access, issues such as internal threats will find it a lot harder to access private information from your systems.

  • Improvement in Productivity
Problems that arise from cyber security attacks can take significant time out of your day. This is due to the fact that cyber security issues can slow down networks to the point where employees can barely work. 

As a result, investing in cyber security can prevent these issues from arising. By improving firewalls, virus scanning programmes, and automated backups, you can significantly reduce the chances of cyber threats as well as the amount of time your network is down for if it is attacked. 

  • Company Reputation 
Another advantage of implementing cyber security into your systems is that you will build a strong reputation for being trusted with clients’ data and information. Whether you are a letting agent, marketing agency or even a recruitment agency, safely securing client data is imperative to your success. 

Whilst it is not your fault if your systems come under threat, it is your responsibility to do what you can to protect client data, and if it is accessed your reputation will be affected. By implementing cyber security you can be confident to store and manage client data with reduced risk of external or internal cyber threat. We’ve written a detailed blog covering the differences between data security vs cyber security.

  • Adhering to Regulatory Compliance 
Due to the increased threat of cyber security issues and hacking, regulatory bodies are producing regulations to help businesses protect themselves and their employees from cyber threats. An example of these regulations is GDPR,

By complying with these regulations, you will be viewed as more professional, reputable, and trustworthy. 

  • Saving Money
The final advantage of investing in cyber security programmes is that it can save you a significant amount of money. According to CyberCrime Magazine, cybercrime is set to cost the world over $10. 5 trillion per year by 2025. 

For SMEs, the cost of recovering lost data and restoring their networks can sometimes be a large proportion of their profits. Therefore, to invest in cyber security systems in the first place, can reduce the risk of these issues taking place and avoid the unnecessary recovery cost. 

Real Life Examples of Bad Cyber Security

Sometimes it is easy to assume that cyber security issues will not happen to you or your organisation. But when you see some real life examples it can put it into perspective. Therefore, we have detailed some real life examples of bad cyber security from well- known companies. 

Microsoft: 

In 2018, Microsoft learned how a simple error of not implementing multi factor authentication, one-time passwords, and the manual approval of access requests, lead to them being defrauded by a software engineer that they employed. The employee managed to defraud Microsoft of more than $10 trillion dollars by creating fictitious store accounts to stimulate customer purchases. The fraudster managed to receive millions of digital gift cards but illegally accessed colleagues’ profiles. 

Shopify:

In 2020, Shopify also fell victim to internal cyber threats when two employees were paid to steal the transaction records of almost 200 online merchants. These employees managed to do this because Shopify did not implement the principle of least privilege whereby the most important and sensitive data is accessible by management. As a result, the employees in question were able to access sensitive information and take screenshots of which they later sold on. 

Jet 2: 

In 2018, a former subcontractor of Jet 2 managed to unlawfully gain access to the domains of Dart Group PLC and its subordinate Jet2. The subcontractor launched a remote desktop session which allowed them access to the airline’s employee credentials. The man then continued to delete all data from the folder which resulted in 2,000 people from accessing their online accounts and corporate email services, as well as deleting network login software. As a result Jet 2 lost over $215,000 dollars. 

Simple Ways to Keep Your Computer Network Secure 

Now that you have read how easy it is for cyber systems to be exploited when simple cyber security precautions are not implemented, you can understand why they are so important. Below we have detailed some of the simple ways that you can keep your computer network safe. 

Update Passwords Every Quarter Updating your passwords regularly, or at least every quarter is a great way to increase the security of your computer network. What’s more, ensuring that your passwords are completely unique, and include a variety of characters, symbols and numbers is the best way to make sure your password does not get hacked. You can even go one step further by using a 16 digit random password generator. 
Install and Monitor Firewall Performance A firewall is a set of software that is designed to block unauthorised access to computers and networks. Firewalls are becoming increasingly more complex to keep up with the advanced skills of hackers and are a great initial step to preventing cyber security issues in your network. 
Multi- Factor Authentication Whilst some people may believe that multi-factor authentication just takes up more of their time, it is a brilliant way of authentication that the person trying to access some data or information is legitimate. It works by taking a second step to identify who you are before giving you the access that you have requested. An example of this could be by sending you a one-time passcode to your personal mobile.
Staff Training  Providing some simple training to your staff on some easy ways that they can keep the computer network safe is a great step forward. Sometimes employees are just not aware that they are putting the network at risk or do not understand the severity of the risk. Therefore, providing group training can help to point out any mistakes they are making and advise them on how they can improve their cyber security. 

 

Managed IT Networks at 777 Networks:

777 Networks have experience in providing technologies that are designed to protect your network from data breaches and cyber security threats. As part of our managed IT Security Services, we aim to ensure that your information is protected end to end. 

If you are interested in receiving some support with your Cyber Security efforts, don’t hesitate to get in touch today. 

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