The Top 5 things that every CEO and CFO Should Know about Cyber Security.

by Techchef Data Recovery Techchef Data Recovery

The Internet has become a part of our daily lives. Just imagine, if one day your bank balance has dropped to zero, your crucial secret business data has been wiped out from your server and even your cloud data gets undetectable. Within an hour your entire business plunges around the catastrophic destruction and you don’t even know who’s behind it. The question is how are we going to tackle such a situation to safeguard your data?

Here in this article, we will coherently outline all the important factors that cyber criminals use to ransomware a business organisation. In the era of digitisation, cyber attack is considered as one such brutal attack that makes one vulnerable within a friction of time. But, what exactly is a Cyber crime and how can one prevent it? Let us understand it first:

What is CyberAttack?

In simple words, Cyber attacks are digital attacks. It is not visible but can cause disastrous consequences. It happens when someone or some group of people attack through digital cyber means with the aim of making the other side vulnerable. It takes shape in a variety of formats like individual or group attacks, bank attacks, data attacks, etc. Let us read some of the categories of cyber attack below:

Financial attack:

It is one of the widely used weapons by attackers against any organisation. In the fast growing world, where payments and transactions are made by one touch saves a lot of time. And on the other hand, it gives some percentage of advantage to the hackers and attackers groups.

As per the Government India report presented in parliament, “The extent of loss due to financial cyber attacks, which is related to debit card, credit card, Net Banking, Bank OTP sharing, etc has increased to Rs 63.40 crore in Financial year 2020-21 from Rs 58.61 crore in Financial year 2019-20.”

Data attack:

This is the second most widely used attack by cyber criminals, to steal the secret data of an organisation and use it against them. It has been also seen that such attacks are being done by rival businesses or organisations.

On 14th April, 2022, the news which shook the Indian stock, “PSU major oil India has received a ransom demand of over Rs 57 crore from the perpetrator,” officials said. Such major attacks make us more alert and warn us why it is important to protect essential data of business.

Hacking server:

Another kind of attack adopted by Cyber misusers are hacking accounts and servers. Many large business organisations have already fallen under such types of traps used against them to make money out of it. In other words, it is also called ransomware attack.

The recent geopolitical skirmishes between Russia and Ukraine is one such major example of it, Ukraine came out with an alert warning to its citizens to be cautious against Russia’s cyber offensive act. Similarly, Russia had faced cyber attack from the USA. In the digital era, it takes a second to turn conflicts into cyber war.

Phishing Scam:

Phishing is a fraudulent practice of sending mails which purported to come from official sites, but it is used in order to reveal personal information such as password, card numbers, OTP and even CVV numbers, etc.

Insider attack :

The dangerous insider attack done by the employees; who work under the same roof, get internal information of the company and use it against the company to harm their goodwill and reputation in the market.

As the major five attacks and scams discussed above, these are very crucial to know for every CEO and CFO of a company in order to protect their crucial data and information.

Conclusion:

Cyber attacks are on the rise these days, but then what can we do to stop it? Do we need to hinder our technological growth? Of course, that is not a solution anyways. However, taking the shelter of necessary preventive measures can help companies to safeguard themselves.

And, when we talk about preventive measures, here comes the Techchef company which strives hard to deliver security of data to their customers. Through the help of techchef many organisations are able to protect themselves from attacks. To know more details about the company, get in touch with us by clicking the link or call us at 1800-313-1737.