What is Cyber Security and Why is it Important?

What is Cyber Security?

Cybersecurity is defending against malicious attacks on servers, computers, mobile devices, networks, and data through the use of cybersecurity solutions and technologies, processes, and practices. Cybersecurity can also be known as Information Technology Security or Electronic Information Security. With so many avenues for hackers to gather and misuse information, businesses need to consider where they are at risk and how they can best protect themselves against any cyber attack. To better assess why cybersecurity controls are essential, the different types of cybersecurity need to be understood.

What are the Different Types of Cyber Security?

Application Security
Application Security works to keep software and other devices free of threats. Applications are susceptible to cyber attacks due to oversights in their development and the need for constant updates. Having the proper solutions to protect sensitive information is imperative in guaranteeing its safety and can include antivirus programs, firewalls, and encryption programs.
Network Security

Network Security
Network Security is to protect the infrastructure and inhibit access to it from unwanted users or opportunistic malware. Some standard methods of Network Security include extra logins, advanced passwords, and other app security measures. Protecting the infrastructure of a business is an operational process that needs to be constantly monitored.

Cloud Security
It can be easy to believe that physical onsite data storage is safer than storing data in the cloud, but that is not necessarily true. Accessibility is what matters and determines the level of access unwanted users can gain into cloud storage. Cloud security is working with and protecting your cloud similar to onsite data storage without having the data centers onsite.

Data Security
Data Security is putting in place standards and procedures when it comes to protecting data. Data is not only vulnerable to outside attackers but also accidental loss or destruction of data. This also includes implementing security measures to prevent access to websites, personal databases, or computers not in the network.

The Importance of Cyber Security

As we become more reliant on digital solutions and technology to drive our business forward, businesses open themselves up to unwanted intrusions and attacks. Cybersecurity is becoming as necessary as having an accounting department. Today, businesses and companies are storing more information than ever before. This includes company data, stored personal information, and other essential data sectors. As companies incorporate more technology and devices into their office, they potentially open doors for hackers and others to take advantage of technology. Having cybersecurity requirements and standards is imperative in protecting business interests. Companies need to take cyber threats seriously at the risk of facing fines, or worse, losing important information resulting in the loss of income and reputation.

Why is Cyber Security Important to the Life Sciences Industry?

Most healthcare organizations report at least one security breach in the last couple of years; this shows how vulnerable the healthcare and medical device industries are to cyber-attacks. The life sciences industry works with tremendous technology, data, and solutions, so the life sciences industry needs to take cybersecurity very seriously. Data and technology also need to be secured by cybersecurity compliance regulations set by governments and companies. These can include Payment Card Industry Data Security Standard (PCI-DSS), Health Insurance Portability and Accountability Act (HIPAA), Sarbanes–Oxley Act (SOX), Federal Information Security Modernization Act (FISMA), and other Cyber Security Fundamentals in regulatory compliance.

What can Cyber Security prevent?

Cybersecurity can prevent the loss of profits through data loss, enhance your reputation with customers and partners, and prevent employee and customer information loss. A secure cybersecurity strategy can defend against malicious attacks designed to obtain, modify, erase, or extract sensitive data. Cybersecurity is also effective in deterring attacks that intend to disable or interrupt operations. A sound cybersecurity strategy also helps to prevent unauthorized user access to a computer system.

The amount and sophistication of the types of attacks account for many challenges to cybersecurity. The most common types of challenges to cybersecurity include ransomware attacks, IoT attacks, cloud attacks, phishing attacks, blockchain and cryptocurrency attacks, software vulnerabilities, Machine Learning and AI attacks, BYOD policies, and Insider attacks. These types of attacks can also be devastating to a company's reputation. 

Why Arbour Group for Cyber Security?

With the rising number of cyber attacks, the life sciences industry cannot afford to lag in protecting its sensitive data and reputation, being one of the most targeted industries in the world. Having a knowledgeable partner to guide your business through cybersecurity challenges can make all the difference to an effective cybersecurity strategy. Arbour Group is ready to meet your unique Security Risk Consulting goals with Security Assessments, Audits, Security Programs Design and Implementation, Vulnerability Management, Penetration Testing, Cyber Security Checklist, Incidence Response, and much more. Contact Arbour Group today to learn more about our Cyber Security services.