Cyber Security and the Internet of Things-Free-Samples for Students

Question: Discuss about the Challenges in Cyber Security for Business. Answer: Introduction Online threats are increasing in the business environment which has increased the risks to the safety and security of the confidentiality of the business. It is vital to ensure the safety of the confidential data of the business and customers. There has been a rise in the use of cyber security for ensuring security and safety of the business from hacking and other online threats (Nojeim, 2010). Technological developments have given rise to the concept of cyber security for protecting the confidential data of the business from unauthorized use by others for their personal benefit. Online threats are creating harm to the business and to the customers at large. Cybercrimes are increasing due to which business and customers are getting affected. Technology is being used by the cyber criminals for stealing the confidential information of business and customers (Goodyear, 2010). Businesses are facing various challenges due to the online threats creating an impact on the cyber security for business. The focus on the cyber security is on providing protection to the business and customers. Various challenges are being faced by business due to cyber security. These challenges include education and awareness, services and privacy, prevention of data loss, encryption of USB, third party device connectivity, disk encryption, application control, mobile device management, indicators of the breach, the team for responding to emergency situations, insider threat, and the internet. All these challenges are affecting the performance of the business and there is a need to cope with these challenges in cyber secruity (Clemente, 2013). This project will discuss the role of cyber security for business and the various challenges which are being faced by the business. Figure 1: Cyber security Source: (Golbeck, 2017) Project objective Objectives are the goals which help in guiding the efforts of the individuals towards the right path. Objectives have been set for this project so as to execute this project in a successful manner. Project objectives of this project are mentioned below: To analyze the concept of cyber security and trend of cyber security. To identify the role played by cyber security for business To analyze the different challenges in cyber security for business and identifying measures for dealing with these challenges. Project scope The aim of this project is to analyze the various challenges in cyber security for business which are creating an impact on the performance of the business. This will be done for gaining an understanding of these challenges. This project will help in providing a detailed understanding of these challenges and analyzing the impact of these challenges on the business and customers. The focus of this project will be on collecting information related to the topic of the project. Literature review Role of Cyber Security According to Cornish, et. al. (2011), Cyber security can be explained as the body of technologies and practices which are designed with a motive to provide protection to the networks, programs, and computers from the unauthorized access of the data or information. Cyber security is an important aspect which forms a base for the digital transformation. Cyber-attacks are increasing with the change in the business environment and have become an international concern. Network protection is an important aspect as every element of the economy is linked to the internet. Lack of protection for data stored on the internet can create a huge impact on the economy. The global economy is getting affected due to the increasing cyber-attacks. A cyber-attack can be understood as a situation when computer systems, networks and enterprises dependent on technology are exploited intentionally. Cyber defense strategies are being adopted by the businesses for ensuring the protection of the confidential in formation (Nojeim, 2010). Cyber-attacks are creating huge harm to the business. With the increase in the number of services, there has been a rise in the number of cases related to cyber-crime. Constant technological innovations are the reasons behind the growth of the cyber-crimes. Cyber-crimes are creating an impact on the reputation of the business, affecting the competitiveness of the business and financial losses to the business. Cyberspace has evolved the manner in which business operations are carried out (CUNY, 2010). Cyber security is an important issue for the global economy for ensuring that illegal and unethical practices are not creating harm to the global economy. IT security teams and professionals are making constant efforts for coping with the cases of cyber-attacks. Cyber-attack is becoming a life threatening threat to every business which is affecting the existence of the business. Cyberspace has provided growth opportunities to the business by enhancing the quality of the services offered by the customers (Raduege Bissell, 2013). Cyberspace has provided opportunities for the growth and expansion of the business but there are some serious risks which are associated with this concept. This rise in the use of cyberspace has increased the number of cases along with the increase in the cost involved for the protection of the data of business from hackers or cyber-criminals (SECU View, 2016). Challenges in Cyber security for business Major changes have taken place in the IT sector which has increased the need of cyber security for businesses. Businesses need to ensure the safety of the digital assets from the unauthorized access. Cyber-criminals are targeting large, medium as well as small businesses. Cyber-crime damages are increasing the cost of businesses as well as affecting the functioning and customer base of the business. Companies are using cyber security for operating a safe and secure network and protecting the data related to business and its customers (Raduege Bissell, 2013). There are various challenges in cyber security for business. These challenges in cyber security for business are an insider threat, management of password, mobility, the internet, privacy laws, connectivity of the third party devices, USB control, encryption of the USB, prevention of the loss of data, application control, disk encryption, digitalisation, big data and cloud computing (Mena Report, 2016). One of the biggest challenges for the business is related to insider threat. Dissatisfaction level among the employees may increase due to which insider threats develop. This insider threat can create harm to the cyber security of the business. Proper protection must be done of the systems by installing software. An employee may violate the network security rules formulated by the company for protecting confidential data. Training must be provided to the employees and consequences must be explained to the employees. This will help in keeping a check on the cyber threats (Valk, 2010). With the advancement in the technology, cyber-criminals are putting their efforts of cracking the passwords so as to gain access to the confidential information of the business. Passwords should be changed at regular intervals for eliminating the cyber-threat (Greenwald, 2013). In the article written by Greenwald, qualitative research method has been used for collecting theoretical knowledge related to the research topic. For example, a case of threat of credit cards data took place in the year 2014. In this case, data of 50 million credit cards were stolen from the system of Home Depot. The system of the home depot was breached due to which credit card details of 50 million card holders were exposed. For getting access to the computer network of the company, thieves have used the user name of the vendor and password. Thieves installed malware in computer network due to which details of the credit cards were handed over to the criminals (Murphy, 2017). Another example is the breach w hich took place due to the use of outdated technology. It was disclosed that this breach has exposed the data of 21.5 million people. This case is one of the biggest cases of breach of U.S. Government data (Murphy, 2017). The Internet also acts as a challenge for the cyber security which affects the performance of the business. The secured medium needs to be developed for ensuring the protection of the data available over the internet. The Internet is an open connection and cyber threats can affect. For example, in the year 2009, Google corporate servers were hacked in China. Intellectual property and other information were hacked and this hacking took place for gaining access to the Gmail account of Chinese human rights activists. Court orders which were authorizing surveillance were hacked (Murphy, 2017). Employees have started using their personal devices for accessing the portals of business which is an increasing issue for the businesses. Details or confidential data of the employees and of the company are at risk due to the availability of hacking software over the internet. Privacy laws need to be formulated for ensuring the safety of the data. Lack of effective privacy laws can act as a challenge for the cyber security. Fake advertisements and feedbacks also act as a threat to the safety of personal data of the business (Penzes, 2014). Applied research method has been used in the article written by Penzes. The motive behind use of this research method is to solve the practical problems of the world by analysing the challenges in cyber security. There has been a rise in the use of cloud computing or cloud based services by the business and employees for storing data. Cyber-criminals hack these cloud based storage platforms for accessing the personal information of the business and employees. These details are used for conducting unethical or illegal practices. Barge volume of data is stored on websites or storage platforms and security of these platforms need to be ensured (Wang Lu, 2013). In the article written by Wang and Lu, problem oriented research method has been used. This research method has been used for analysing the challenges faced by different companies. For example, more than a billion user names along with passwords were hacked by Russian hackers. These user names and passwords were hacked from approximately 400 websites (Murphy, 2017). The increase in the process of digitalisation has increased the use of internet based platforms by the business. Businesses are using software, storage mediums and communication mediums which are based on the internet. This increasing dependence on the internet has created a huge impact on the protection of the data of the business. This challenge to cyber security needs to be dealt by using strategies (Chanaga, 2016). For example, it was seen that in the year 2014, Yahoo data breach took place. This breach of data was of more than 500 million users. Another breach was reported which took place in the year 2013. More than one billion users got affected due to this breach and their data was exposed (Murphy, 2017). Secondary sources of data collection have been used in the article written by Murphy for the collection of data. Another important challenge is related to awareness among the employees for the cyber security. This lack of awareness has increased the risk of the business. Organizations are not having emergency response team which deals with the situations of cyber-attack and breaches. Emergency response team analyses the potential cyber threat or breach and take steps for eliminating these threats or breaches. Prevention of data should be the priority of emergency response team as theft or breach results in loss of data. This data can be used against the business resulting in a potential impact on the business (Purdy, 2016). Businesses are not using active application control program which controls or prevents the cyber-attacks and helps in identifying these thefts and breaches which help in dealing with the adverse situation. Companies are less concern towards the protection of mobile devices. Mobile devices are used in the workplace for executing the operations and confidential information is stored on these mobile devices (Chanaga, 2016). Companies need to ensure disk encryption for protecting data from the theft and loss. The secure environment should be created for the business so as to ensure that business is operating in a secure environment. Businesses are becoming more and more concern for the safety and security of the data of the business. This concern has resulted in the use of USB encryption for the protection of the data from unauthorized access and ensuring that the data on a device connected to end point is encrypted (ITU, 2012). The shift of the real world towards the virtual world has led to rising in the cyber crimes. There are various reasons which are responsible for the increase in the cases of cyber-crimes. These reasons include an increase in digital financial services, increase in the interaction through social platforms, profitable returns on cyber-crimes and changing technology. There has been a rise in the digital financial services such as online purchasing, internet banking, and stock trading. This increase in the digital financial services available over the internet is for enhancing the comfort level and convenience of the people. But these services are being attacked by the cyber-criminals for misusing these services (Wang Lu., 2013). There are various social media platforms which are being used by people for communicating and sharing information with each other. These social media platforms have been targeted by the cyber-criminals for accessing the information and misusing it for their ben efit. Personal information is being hacked by the cyber-criminals and is misused for conducting illegal activities. Hackers have used cyber-crime for gaining high profits (Tonge, et. al., 2013). Technological advancements have created positive as well as negative impact on the world economy. The cost of protection is very high which increases the operating cost of the business. Customized solutions need to be developed and for this, businesses need to take help of the IT professionals or experts. Various cyber-crimes take place for affecting the sales of the business. Competitors may adopt unfair methods or ways for increasing their sales and decreasing the sales of other companies. Information related to a business may get hacked by the hackers for unauthorized use and misuse the information for self-interest (Abomhara Kien, 2015). Impact of challenges in cyber security There are various adverse impacts of cyber-attacks which can hinder the existence of the business. Cyber-attacks can result in commercial losses; increase the chances of extortion aside, issues related to public relations, legal compliance, negligence claims and loss of trust among the customers, suppliers, and society. Companies suffering from cyber-attacks may suffer financial loss as main motive behind cyber-attack is gaining monetary benefits or stealing confidential information. The reputation of the business also gets affected due to cyber-attacks (Wang Lu., 2013). This impact of the reputation of the business can result in loss of sale, loss of customers and fall in the profits of the company. Companies may suffer legal consequences as loss of confidential information of the client is a crime. According to the data protection act, personal data of the customers should be managed in a proper manner. For example, Anthem Inc. a health insurer has suffered at large due to cyber-a ttack. Systems of Anthem were hacked in the year 2015 and due to these hacking personal records of approximately 80 million people (Szoldra, 2015). Coping with challenges in Cyber security Companies are coping with these issues and focusing on developing strategies for dealing with the increasing cyber threats. For coping with this issue, there is a need to apply strategies. In the words of Ulsch (2014), businesses can use cyber security audit for protecting data and analyzing the effectiveness of the cyber security strategies used by the businesses. Cyber security plans and procedures allies can be developed. Internal policies need to be created by the business as companies may face threat from the employees of the company. Internal policies will help in keeping a check on the behavior of the employees. Systems used by the business must be updated on regular basis for eliminating the chances of cyber-attack. Employees must be aware of the cyber-attacks and their impacts on the performance of the business. A Strong password should be created and these passwords should be changes on regular basis for ensuring the safety of the data. Security expert must be hired for dea ling with the security related risks (Ulsch, 2014). Identification of gaps During the execution of the research, some gaps have been identified. These gaps are the gap between the existing studies on the basis of which research is carried out and studies on the basis of which research will be executed. Reason behind the creation of these gaps is the lack of proper answers for the research questions of the research. This situation arises when the collected data and analysed data is not answering to the research questions. This research has discussed the challenges in cyber security for business but measures for coping with these challenges in cyber security for business are not discussed. Further research will discuss these measures which are used for dealing with the challenges in cyber security. Journal articles used in this research have discussed the concept of cyber security, its role for business and challenges in cyber security for business. Conclusion Thus, it can be concluded that cyber security is an important aspect of every business. This project has discussed the concept of cyber security and the role played by cyber security in enhancing the confidentiality of the data of the business. Various cases have been identified which are related to cyber-attacks. With the technological advancement, the threat of cyber-attack is also increasing which has raised the concern for the safety of the data of the business. This project has discussed different challenges in Cyber security for business which creates an impact on the confidentiality of data of the business and on the performance of the business. References Abomhara, M. Kien, G. M., 2015, Cyber Security and the Internet of Things: Vulnerabilities, Threats, Intruders and Attacks, Journal of Cyber Security, 4, 6588. Chanaga, J., 2016, Three security actions CEOs must take: Cyber risk is the greatest business challenge of the 21st century,SC Magazine,27(12), 50. Clemente, D., 2013, Cyber Security and Global Interdependence: What Is Critical?, Chatham House. 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