Why cyber security is a mst

1. Why Cyber Security
Matters: Protecting
Your Business and
Your Reputation
Cyber attacks can happen to any business, at any time. It's essential
to understand the importance of cyber security measures to keep
your business data and reputation safe.
by Dhananjay Chaturvedi

2. Understanding the Financial
Impact of Cyber Attacks
Recent cyber attacks have caused significant financial losses for businesses around the world. From
reputational damage to data breaches, the impact of these attacks can be severe. Here are some recent
examples:
• Colonial Pipeline: In May 2021, a ransomware attack forced Colonial Pipeline to shut down its
operations for several days, leading to gas shortages and price spikes in the southeastern US.
• SolarWinds: In December 2020, hackers believed to be affiliated with the Russian government
breached the IT company SolarWinds, giving them access to the systems of numerous US
government agencies and private companies.
• Microsoft Exchange Server: In early 2021, Chinese state-sponsored hackers exploited
vulnerabilities in Microsoft Exchange Server, a widely used email and calendar application, to
gain access to the systems of thousands of organizations around the world.
• JBS: In June 2021, a ransomware attack disrupted operations at JBS, one of the world's largest
meat processors, causing temporary plant shutdowns and supply chain disruptions.
These attacks represent just a few of the many cyber attacks that have occurred in recent years. The
financial impact of these attacks can be significant, as businesses may face costs such as lost revenue,
legal fees, and reputational damage. It's important for businesses to take cyber security seriously and
implement measures to protect themselves from attacks.

3. The Definition of Cyber Security
Protection
Cyber security refers to the measures
taken to protect computer systems
and networks from unauthorized
access or attacks.
Threats
Cyber threats can take many different
forms, from phishing attacks to data
breaches to ransomware attacks.
Solution
Effective cyber security measures
involve a combination of technology,
personnel, policies, and education to
minimize cyber risk.

4. The Real-World Impact of Cyber Attacks
Target Data Breach
The Target data breach in 2013
compromised the personal
information of over 100 million
customers, leading to lawsuits
and huge financial losses for the
company.
Equifax Data Breach
The Equifax data breach of 2017
exposed the sensitive data of
over 143 million consumers,
resulting in a loss of trust and
credibility for the company.
WannaCry Ransomware
Attack
The WannaCry ransomware
attack targeted computers
running outdated software,
resulting in millions of dollars in
damages and lost productivity
worldwide.
NotPetya Ransomware Attack
The NotPetya ransomware attack in 2017 caused significant damage to businesses across the globe, with total
damages estimated at over $10 billion.

5. The Consequences of Cyber Attacks
1
Financial Consequences
Cyber attacks can lead to
significant financial losses for
businesses, including direct
costs related to the breach, legal
fees, and lost productivity.
2
Damage to Company
Reputation
Cyber attacks can damage a
company’s reputation and
trustworthiness, leading to a loss
of customers, market share, and
revenue.
3
Legal and Regulatory
Issues
Cyber attacks can lead to legal
and regulatory consequences,
including fines, penalties, and
legal action from affected
parties.

6. The Importance of Proactive Cyber Security
Measures
Investing in Cyber Security
Investing in effective cyber security
measures can help prevent attacks and
mitigate the damage if an attack were to
occur.
Employee Training
Providing cyber security training to
employees can help prevent human error
and reduce the risk of breaches.
Cyber Security Best Practices
Cyber security best practices like
implementing strong passwords and multi-
factor authentication can help protect
against cyber threats.

7. General Computer Usage Best Practices
• Use a limited privileges account for day-to-day usage
• Keep software and anti-virus updated
• Backup important files regularly
• Log out or lock the computer when stepping away
• Don't download unfamiliar software
• Remove unnecessary programs
• Restrict remote access
• Handle sensitive data with care
• Securely remove data
• Maintain redundant power supply
• Lock the screen to protect against physical access
• Ensure good ventilation to avoid overheating
• Use surge protectors to avoid power surges
• Don't eat or drink near the computer
• Keep magnets away from the computer
• Scan downloaded files for malware
• Download only from trustworthy sites
• Don't click on links to download from unauthorized sites

8. General Internet Browsing Best
Practices
• Always use updated anti-virus, operating system, applications, and browser.
• Use a web browser with sandboxing capability like Google Chrome, Safari, etc. Sandboxing
usually contains malware during execution.
• Download software from trusted sources only. Be wary of customized toolbars or features that
appeal to users, which may have backdoors.
• Be conscious of what you are clicking on and downloading. Some pop-ups have what appears to
be a close button, but will actually try to install spyware when you click on it.
• Avoid all cloud services that are based outside India. Don't use services that require location
information.
• Remember that things on the internet are rarely free. "Free" screensavers, etc. generally contain
malware.
• Be extremely careful with file sharing software. File sharing opens your computer to the risk of
malicious files and attackers. Also, if you share copyrighted files, you risk serious legal
consequences.

9. Conclusion: Protect Your Business
with Effective Cyber Security
Measures
1 Education &
Awareness
Understanding the
real-world impact of
cyber attacks and the
importance of cyber
security measures is
essential for protecting
your business.
2 Proactive Risk
Management
Investing in effective
cyber security
measures and best
practices can help
prevent costly
breaches and protect
your company
reputation.
3 Continuous
Improvement
Cyber security is an
ongoing process, and
implementing regular
assessments and
updates is essential for
maintaining a strong
defense against cyber
threats.