Cyber Security in business is all about protecting the data, not just the online data but also the offline data, from theft and any sort of damage. It includes the security of personal data, intellectual property data, protected information, sensitive data, government data as well as the data of various industries. It is a shield that helps in safeguarding the entire data of a business. Running a business is not everyone’s cup of tea and what makes it further difficult is the absence of cyber security. Let’s learn what impact this service has on the running of a successful business.

1. Cyber Security: Most Important Aspect of a
Successful Business
https://fibonalabs.com/

3. Being a business owner, there are lots of concerns that people have, cyber
security is the top among them all. In this era of the so-called digital age,
everything is done online now. And as it is said, “with great power comes great
responsibility”, the power of the internet is shouldered by cyber security.
Cyber Security in business is all about protecting the data, not just the online
data but also the offline data, from theft and any sort of damage. It includes the
security of personal data, intellectual property data, protected information,
sensitive data, government data as well as the data of various industries. It is a
shield that helps in safeguarding the entire data of a business. Running a
business is not everyone’s cup of tea and what makes it further difficult is the
absence of cyber security. Let’s learn what impact this service has on the
running of a successful business.

4. CYBER SECURITY: IMPORTANCE
There is a plethora of information available on the internet that backs up the
cyber-attacks done on several organizations. In fact, as per OTA (Online Trust
Alliance), almost every company has undergone a cyber-attack in one way or
the other. The bigger the organization, the more vulnerable it is to such attacks.
Let’s have a look at some of the benefits of cyber security in business.
Freedom To Surf: It allows you to freely surf over the internet without being at
risk all the time. You can easily do your research and go to different websites
without any worry about data comprise.

5. Safeguards Personal Information: It protects your personal information that
is there, on say some online shopping portal, employee's data of an
organization, etc.
Increased Productivity: An attack from a malicious file or a virus can clearly
slow down your system’s speed and efficiency. Cyber security makes sure to
stop any such attack right at the first step.
Maintains Your Websites’ Rank: Once your system/website is infected, it is
likely to shut down thus causing a huge fall in its rank. With cyber security in
business, you can rest assured that the virus can never be the reason behind
any fluctuation in your website’s rank.

6. Protects From Spyware: Spyware, a software that gets installed in your
system without asking for any permission. It is meant to keep track of your
online activities and share all the information with the cyber attacker. By having
good cyber security, you can ensure that spyware never enters your system.
CYBER SECURITY: THREAT ANALYSIS
There is a lot that can be written about threat analysis. But here we will discuss
the process of threat analysis. Given below are the factors that help in
analyzing the vulnerabilities that lead to any cyber-attack.
Analysis of Data Worth Saving: The very first step of threat analysis is to
detect what needs to be protected and what not. It includes information that is
sensitive, susceptible, and confidential.

7. Details of Previous Attacks: Collecting the data from previous cyber-attacks
helps in identifying the entry ports, vulnerable areas, and areas that demand
high-end security. It could be the network, server, endpoints, etc. Doing this, we
can stay focused on the pin point of cyber security in business.
Analysis of Vulnerability and Risks: This helps an analyst determine how to
neutralize the attack by ensuring that the security measures, policies, and other
adequate measures pose no threat to confidentiality, integrity, and availability
of data.
Finalizing the Mitigation Measures: After analyzing the above aspects of
cyber threats, an analyst categorizes these threats into different data groups.
Then he identifies their pattern and finally acts on implementing the mitigation
measures.

8. CYBER ATTACK: FAMOUS EXAMPLES
Cyber security in business is of utmost importance. Some of the global cyber-
attacks that proved extremely worrisome for businesses across the globe are
listed below.
Atlanta cyber-attack, 2018: This was a massive ransomware attack that shook
the government of Atlanta, USA. The attack was noticed in early March when
the government system was hacked. Being the major transportation and
economic hub of the USA, Atlanta faced a crisis for quite a few days. Travelers
couldn’t use the airport’s Wi-Fi, traffic ticket forms were filled manually, and a
lot of chaos was created for the citizens.

9. Luas cyber-attack, 2019: This was another ransomware attack that affected
Luas, a tram management system in Dublin, Ireland. The hacker demanded a
ransom of 1 bitcoin whose value at that point in time was € 3,385.
Health Service Executive cyber-attack, 2021: Since the attacks are done on
famous and larger organizations are mostly ransom war attacks, so was this
one. May 14, 2021, this attack caused all the IT systems across Ireland to be
shut down because of its severity. This was a Conti ransomware attack, which
came into the picture in 2020. It is known that it has more or less affected all
the versions of Microsoft.
Colonial Pipeline cyber-attack, 2021: This attack targeted the American oil
pipeline system in Houston, Texas. It hacked the computer-managed system of
the pipeline.

10. This ransomware attack got successful as the hackers got paid $4.4 million by
the government, though $2.3 million of the amount got recovered.
Steamship Authority cyber-attack, 2021: In June 2021, a ransomware attack on
the Steamship Authority of a ferry service in Massachusetts, USA, caused a
halt in the service. It attacked their system by affecting their logistics and made
the system inoperable.
CYBER ATTACK: PREVENTIVE MEASURES
Preventing cyber-attacks is not an impossible task if all the measures are
followed religiously to ensure cyber security in business. But in the past few
years, it has become the most difficult task because of the rise in remote work
and hybrid working models. Availing the best cloud technologies is the best

11. Also, given the fact that the attackers are getting experts in new technologies, it
should be the priority of every kind of business to invest in the latest cyber
security solutions. Discussed below are some of the latest cyber-attack
preventive measures that could be extremely helpful in the coming years.
Safeguarding from On-demand information access
Issue: With everything getting digitalized, today organizations have data of
millions of users, like their social media clicks, banking information, shipping
information and so much more. This makes them more vulnerable to cyber-
attacks. As discussed in the above examples, such huge classified information
is an invitation to ransomware attacks.

12. Solution: Trending technologies like zero trust architecture, behavioral
analytics, and elastic log monitoring are extensively important in shielding
organizations from cyber-attacks.
Zero Trust Capabilities: As more and more employees are working from
home currently; it is essential to shift the security more towards users and
physical networks rather than focusing on centralized data.
Behavioral analytics: Since this trend of attacking an employee’s system has
been witnessed worldwide, analyzing their activities is very helpful. Such as
their login time, the websites they are accessing for work, sites where they are
spending more time, their log-out timings, etc.

13. Elastic monitoring of data: Monitoring small data is still easier than taking
keeping track of bulk data. With elastic monitoring, organizations are able to
extract the desired information and analyze it in terms of security.
Using the latest AI solutions
Issue: Advancements in technologies like Artificial Intelligence and Machine
Learning, have given attackers new and advanced tools to launch cyber-
attacks. Such attacks can be controlled by having an automated response or a
predefined defense system at the first step itself.
Solution: Organizations should stay ahead of the attackers by adapting to more
advanced AI solutions. There should be operational and technical changes in
the traditional security software.

14. Apart from the above-discussed measures, businesses and organizations
should continue to follow the generic cyber security norms like staff training
against identifying cyberattacks, keeping the systems up to date with the latest
updates, ensuring endpoint encryption, and the list continues.
CYBER SECURITY IN BUSINESS: HOW DO WE ENSURE IT AT
FIBONALABS?
Preventing cyber-attacks is not an impossible task if all the measures are
followed religiously. Discussed below are some important steps that are
followed at Fibonalabs.
1. Staff Training: This is the first and the most effective measure for any
organization. Training your staff in recognizing the red flags of cyber-attacks is

15. Cybercriminals find it easy to attack an organization’s system through an
employee’s account. Therefore, it is advised not to open links from unidentified
sources, verify unknown email addresses, ensure safety before sending
classified information via mail, and so on.
2. Latest System Update: It is highly recommended to keep your systems up
to date with the latest updates available. A non-updated system is more
vulnerable to attacks as the cybercriminals are well aware of the loopholes.
3. Endpoint Protection: All the endpoint devices such as laptops, tablets,
mobile devices, and desktops, should be fully protected by some endpoint
protection software. There should be a proper analysis of the activities done on
these systems through agent deployment.

16. 4. Firewall Installation: A firewall is the first or the outermost shield of a
network. It stops the attack at the very first step. Hence, it is of utmost
importance to have a firewall installed to safeguard the network.
5. Data Backup: Whether you run an organization or you are a normal
employee, data backup is recommended in both scenarios. Cyber-attacks are
not restricted to just ransomware, there are viruses, malware, spyware, and
several other types of attacks that could damage your data. So, taking backup
is extremely helpful and with cloud management, even this process becomes
easy.
6. Controlled Access: The easiest way to attack a system is to physically
inject it with a virus. This can be done using a USB like pen drive, external hard
disk, external Bluetooth device, etc.

17. There has to be a barrier in the network that doesn’t allow these devices to get
access to your system.
7. Secured Wi-Fi: In this digital age, having Wi-Fi is the most normal thing.
Now gaining Wi-Fi access is another entry port for cybercriminals to execute an
attack. Thus, you must always ensure the secure your Wi-Fi networks as it
connects your entire business system.

18. THANK YOU