Cybersecurity and Associated Risks: A Comprehensive Guide for Remote Workers and Companies

According to the report of IBM, the data breach costs swelled from $3.86 million to $4.24 million in 2021. It is the highest in almost two decades. So what does it say about cybersecurity? How trustworthy is the virtual world? These are reasonably complicated questions, and this written piece aims to reach the answers.

Working from home has become a norm since the pandemic. Workers of all levels have embraced this concept with openness. It is likely to continue even after the pandemic.

No one can subside the benefits of remote working. However, it is vital to see the full view of it. Remote work can expose organizations and employees to numerous cybersecurity risks. In a Forbes survey, about 40% of respondents hinted their cybersecurity behavior at home differs from their practice at the office. Hence, it is essential to understand the concept of cybersecurity and how you can safeguard against it.

What Is Cybersecurity?

Cyber security refers to the practice of protecting computer systems, electronic systems, networks, servers, and mobile devices from unauthorized access. You have to save your data from malicious attacks to cut it short.

Information technology security or electronic information security are other names for cyber security. You must be wondering that the concept is fairly known, and there may not be a need to know more about it. Unfortunately, here you can be wrong! As technology has progressed, the risks associated with it have increased.

And at times, they are so confusingly complex that you may pass them as a regular computer-related activity and not a threat. You can start by learning what is a DoS attack and get into more details about other types of cyber threats.

Cybersecurity is applicable in different contexts, from business to mobile computing. However, you can see the division into some common divisions.

Network security: The practice of securing a computer network from intruders, whether targeted attackers or opportunistic malware, is known as network security.

Application security: The goal of application security is to keep software and devices safe against attacks. A hacked application could allow access to the data it was supposed to secure. Effective protection services ensure safety from email threats starts throughout the design phase, long before a program or device is deployed. An application security can be achieved with Code Signing certificate and for that, a developer or publisher does not need to go far. There are many authorities who offers discounted price or cheap code signing certificate. A secure code ensures downloaders about software integrity and security.

Information security: It safeguards the integrity and privacy of data, both in storage and in transit.

Operational security: The activities and decisions that go into handling and protecting data assets are referred to as operational security. The protocols that regulate how and where data may be kept or exchanged, and the permissions people have when accessing a network fall under this category.

Credit: Canva

Understanding Safety Terms

Disaster Recovery And Business Continuity

The terms explain themselves fairly. The concept defines how a company responds to a cyber-security event or any other incident that results in the loss of operations or data.

Disaster recovery policies define how an organization returns operations and information to the same operational capabilities as before the disaster.

Business continuity is the plan that an organization uses when it cannot operate due to a lack of resources.

End-user education

End-user education teaches users to identify and delete suspicious email attachments, not use unidentified USB drives, and other crucial lessons. To seal-secure an organization's systems, its employees must have complete knowledge of cyber security.

End-user education addresses the users of technology - individuals. Anyone can unintentionally introduce a virus into an otherwise protected system by failing to follow appropriate security measures.

Why Is Cybersecurity So Important While Doing Remote Work?

It is one question that you should ponder upon if you are a remote employee. If we analyze from the cyber security perspective, there are some prominent challenges that remote teams should consider:

Credit: Canva

Remote workers routinely neglect cybersecurity hygiene.

Research from Tessian states that about one in every three employees "believe they can get away with riskier security behaviors when working remotely." The report carries some astounding information that you must know:

• While working from home, more than a third of those surveyed acknowledged picking up unhealthy cybersecurity habits and adopting security workarounds.
  
• In addition, a large number of remote workers provide corporate device access to household members for private use.
  
• In the same survey, 82% of employees agree that they reuse passwords.
  
• Remote workers also commonly use unsecured WiFi, personal devices, shadow IT, and other unauthorized applications. These factors can extend the threat surface and increase the loopholes, exposing the devices to cybercriminals.
  

These report findings are sufficient to alert anyone. And yet some individuals or companies may take cyber security casually. Hence, the next section mentions the risks associated if you do not pay attention.

What's At Risk?

Cyberattacks jeopardize your money, data, and IT equipment. If a hacker has access to your network, they may be able to do a lot of damage with the information they obtain, including:

• Your company's banking details
• Customer credit card information
• Other customer credentials
• Pricing & plans structure
• Access to client lists
• Expansion plans
• Manufacturing processes
• Product designs
  

These attacks endanger not just your company but also your safety. Hackers could exploit their access to your network to gain access to the networks of other organizations in your supply chain.

How Can A Cyber Attack Impact You?

A cyberattack can have an enormous negative impact on your business. If we look at the statistics, about 60% of small businesses that deal with an attack have to close within six months of a breach.

While this may be the most severe consequence of the attack, there are others that your company may face, including the following.

• Theft of banking information can result in financial damages.
• Financial losses due to a halt in business operations
• High costs to move away from the network of threats
• Damage to your reputation after telling customers their information was compromised. It may result in losing clients permanently.
  

How Far Wide A Cyber Threat Can Leave Its Footprints?

The worldwide cyber threat is rapidly evolving, with increasing data breaches each year. According to a survey released by RiskBased Security, data breaches exposed 7.9 billion records in the first nine months of 2019. It is more than double (112%) the number of records disclosed in the same period in 2018.

According to records, most breaches happen in medical services, retail, and government entities, with malevolent criminals being accountable for most occurrences. Because they collect financial and medical data, some industries are particularly appealing to cybercriminals. Still, any organization that uses networks might be targeted for customer data, corporate espionage, or customer attacks.

The International Data Corporation projects that global spending on cyber-security solutions will reach a whopping $133.7 billion in 2022 as the scope of the cyber threat continues to grow. In addition, governments worldwide have issued recommendations to help businesses develop strong cyber-security policies in response to the growing cyber threat. As a result, the internet-borne issue has gradually become a security problem for the government.

The National Institute of Standards and Technology (NIST) in the United States has developed a cyber-security framework. The framework promotes constant, real-time monitoring of all electronic resources to counteract the spread of harmful malware and aid in early identification.

The necessity of system monitoring is emphasised in the UK government's National Cyber Security Centre's "10 stages to cyber security" guidance. In addition, the Australian Cyber Security Centre (ACSC) regularly releases guidelines on how enterprises can regularly combat the latest cyber-security threats in Australia.

Cyber security is a rising issue for everyone - governments, companies, and those who work from home. Therefore, developing a comprehensive view of the problem is essential, and so is knowing the tips to be safe from it.

Cybersafety Tips - Building A Shield Against Cyberattacks

A few quick safety tips can be handy if you look for an easy fix.

Software and Operating System Update - It can give you an upper hand against any attack.

Use a VPN - Make sure to use the best VPN to conceal your location and prevent any potential security breaches by hackers. Consider those that can handle a big company's needs and look into an overview of cloud VPN technology as it offers scalability, flexibility, and cost-effectiveness.

Using anti-virus software - There are good security solutions that you can put to good use. These are Bitdefender, Kaspersky, Webroot, Norton, McAfee, etc. Any one of these can help you diagnose and remove any potential threats.

Using threat intelligence software - to keep your security standards up to date and fit to combat new threats as they appear.

Keeping passwords strong: Always choose strong passwords and ensure that you make timely modifications to them.

Do not attend to emails from unknown senders - These emails can contain malware.

Do not click on links in emails or websites from unknown senders: This is a systematic malware distribution method.

Avoid using unsecured WiFi networks in public locations - Unsecure networks leave your devices vulnerable to cyber attacks.

Final Word

Securing the systems is a serious deal that you cannot avoid. Remote workers and organizations must prepare themselves with powerful systems, tough to break. To shield against the threats, you first must have a thorough knowledge of hazards. Our next blog aims to inform you about the types of cyber threats and best practices to follow if you work remotely.