Cybersecurity is the application of technologies, processes, and controls to protect systems, networks, programs, devices, and data from cyber-attacks. The issue of cybersecurity needs to be treated as a top priority in the workplace because with the high rate of cyber attacks on businesses, it can pose a serious challenge to a company which often leads to a sudden decrease in revenue and loss of customers.
According to Sophos, a global cyber security firm, it disclosed that 71 percent of Nigerian businesses it surveyed were hit with ransomware in 2021, up from 22 percent in 2020. The company revealed this in its state of Ransomware 2022 report. The report also reveals that a total of $706,452 was paid as ransom to the cybercriminals by Nigerian businesses in the year. The average cost of rectifying cyber-attack in the country also went up from $0.46 million in 2020 to $3.43 million in 2021.
Organizations that fall victim to cybercrime often lose huge amounts of money due to extortion by hackers, which leads to a loss of confidence from investors who do not hesitate to withdraw their funds and investments from the company.
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Although protecting a business from cyberattacks can be very costly, but it offers the business a whole lot of advantages such as; loss or deletion, improves customer confidence, protection of intellectual protection, and prevention of fraud through financial transactions like wire transfers, etc.
As cybercrime becomes more intense, it is pertinent that organizations step up by improving their security in cyberspace as solutions are in place to protect the company’s data and personal information to reduce disruptions in the future. Companies can use solutions like identity and access management (IAM) to bolster their online security and boost employee productivity at the same time.
Businesses must understand that having tons of information, especially sensitive third-party information, makes them a very high target by cybercriminals. Therefore, they must treat cyber security as a matter of grave concern which they must make a key mandate. More so, having capabilities with a world-class fraud assessment API will help.
This brings me to say that the issue of cybersecurity in the workplace is everyone’s responsibility, because many cyber hackers do not only target a company’s vital information, they also target employees through sophisticated phishing emails that look like business as usual.
There is a strong need for employers to introduce a cybersecurity workspace culture to emphasize and reinforce cybersecurity behavior among the team members to ensure they play their part in ensuring the protection of the company’s vital information from cyber attacks.
Employers can also go out of their way to invite cyber security experts to train the staff on how to prevent themselves from falling prey to cyber hackers. Having cybersecurity is extremely important because it is the basis for preventing a cyber breach or attack.
When employers make Cyber Security awareness training a top priority, they are playing an active role in preventing the company from witnessing a major loss. Such training should not just be a one-day thing, it should be done consistently, depending on what the company decides.
This should be so because when it comes to cyberspace, there are constantly new threats to cyber safety. In order to ensure an enriched cybersecurity environment in the workplace, there must be a continuous effort from the employer and employees. A quick Google search for terms like “online IT courses Australia” or “cybersecurity training” should give you a list of courses that your employees can take.
Indeed, all hands must be on deck and not just from a selected few. Employees on the other hand should be very cautious when using systems and also very careful when clicking on random links to avoid falling prey to cyber hackers.
Therefore, safeguarding assets like mobile devices, and computer systems, must be a priority, and also strict adherence to workplace security procedures is essential.