Attacks are launched in a structured and well-orchestrated manner that include myriads of actors targeting organizations, institutions and critical infrastructure, making it harder for them to be tracked. Common forms of cyber-attacks include:
- Theft of proprietary information
- Sabotage of data and networks
- Denial of service
- Unauthorized access
- Phishing attack
- Malicious code
- Financial fraud
The extent of cyber security threats cannot be underestimated. The incidence of cyber espionage have resulted in tremendous losses to government and private enterprises. In severe cases, intruders can hold an organization at ransom or bring it down entirely. In the context of safe cities, it has become crucial for connected physical assets to be adequately protected. Failure to do so can potentially lead not only to financial losses but also physical harm.
Cyber security exists to ensure the integrity, confidentiality and availability of data. It involves securing and safeguarding systems, processes, assets, critical infrastructure and sensitive data from intruders. It takes more than technology to achieve such an outcome. People form the most important asset to an enterprise. Employing expertise with the relevant knowledge and capabilities are key in anticipating the next cyber threat and spreading awareness through the organization. At the same time, processes put proper checks and balances in place to integrate security functions across line operations to ensure compliance to best practices.
Applying these principles in isolation will not bring about the desired synergistic outcome. It is a combined effort comprising of people, process and technology form the core pillars to collectively uphold a firm’s systems, critical infrastructure, data, assets and processes to achieve complete protection and security.
Source: Frost & Sullivan