Why Cyber Security is essential for any business these days

CYBER SECURITY EXPLAINED What is cyber security ? Cyber security is a combination of technologies, processes, and practices designed to protect networks, programs, devices, and information from attack, damage, or unauthorized access WHY DO WE NEED CYBER SECURITY? Avoid financial loss Cyber security ensures protection against corporate information theft ,financial information theft. • In the year 2020 worldwide losses due to cybercrime is nearly $1 trillion. • Globally, cybercrime costs will hit $6 trillion annually by 2021. (Cybersecurity Ventures) Maintain brand reputation Cyber attacks can damage your business' reputation. Cyber security plays a vital role to maintain Trust factor of your customers. Avoid Legal consequences of cyber breach Data protection and data privacy laws violations due to cyber attacks may lead businesses to face fines and regulatory sanctions. Use of cyber security can handle these consequences. • According to research, In the year 2020, Penalties under the GDPR totaled €158.5 million ($191.5 million) Maintaine regular business operations and productivity The main impact of a cyberattack is lost productivity across the organization. By providing protection shield , Cyber security supports to maintain regular business operations effectively. INVESICS