Staying Safe in a Digital World: A Guide to Cybersecurity
In parallel to the benefits that technology has provided us with, there are many drawbacks that have come from the rise in technology. One precedent problem is the rise of cyber-attacks.
What is cybersecurity?
Cybersecurity refers to the technologies, processes and controls that are in place to protect our systems and networks in order to upkeep the CIA triad (confidentiality, integrity and availability). This term is increasingly growing more popular because we are all online more – for example, most industries now have most of their employees working remotely and people find it more convenient to shop online rather than go into store. Consequently, this creates more vulnerabilities for attackers to target as not all businesses are aware of implementing successful protection methods such as security access control or malware software.
Why should businesses have cybersecurity?
According to the official government statistics, in 2024 50% of businesses reported having experiences some form of cyber security breach or attack in the last 12 months. This means that businesses are a key target to cyber attacks and are very vulnerable to cyber-attacks. One advantage of having cyber security is business continuity. Without the disruption of a cyber-attack, it will allow a business to continue their day-to-day operations. Therefore, businesses can continue being productive and efficient. Another advantage is to maintain a business’s reputation. If there was an instance where a business’s confidential information or customer’s details have been leaked this will be detrimental for the business as customers will feel like they can’t trust the business. Consequently, this will lead to reduced customer loyalty. A final advantage is reduced financial costs. On average, the cost of a business recovering from a cyber security incident is £25,700 for small businesses and for larger businesses and organisations it is millions of pounds. This includes both the direct and indirect costs; direct costs are, for example, legal fees and fines and indirect costs are lost revenue and damage to reputation.
Recent cyber security incidents
There have been many cybersecurity incidents in the news in various industries from clothes businesses to food businesses. The M&S cyber-attack was a ransomware attack. A ransomware is a type of malicious software used to scramble important data or files after gaining access to a business’ computer system. It has been confirmed that the hackers have gained access through social engineering, which is where the hacker pretends to be someone trustworthy, and trick an employee into giving out passwords or login access. This has impacted there financial and operation function. According to the BBC, M&S estimates the cyber attack will reduce profits for the current year by around £300 million. Moreover, M&S had severe website problems which likely led to shoppers turning to rival online retailers instead.
Final thoughts
As technology continues to evolve and become more integrated into our everyday lives and business operations, the importance of cybersecurity cannot be overstated. With cyber-attacks on the rise and the financial, operational, and reputational risks growing more severe, businesses must take proactive steps to protect themselves. Implementing strong cybersecurity measures not only helps ensure business continuity but also builds trust with customers and significantly reduces the potential costs of recovery. As shown by recent high-profile incidents, no industry is immune — which makes staying vigilant and informed more important than ever.