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Watch-out people! There is a threat coming to your computer.

The threat which is disturbing your work is malware.

What is a Malware?

A malware is a short form for malicious software. This is any program or any software that damages your computer; from viruses to spyware. Malware can perform different kinds of functions such as deleting personal files, hacking computer functions, stealing sensitive data and many more. These functions result in cyber-crime which your computer or your system is at risk of data loss or startup failure.

Why cyber-crime?

Companies and small business need to take cybercrime seriously. The reason behind it is because corporations and small businesses are at risk of losing data, money, and reputation. They must implement a better strategy for maintaining a strict security.
Cyber-crime is one of the major threats companies and small businesses are faced with. Computer hackers are very clever people, they find ways to access your data without any permission and end up stealing it.

Cyber-crime in Small Businesses

Small businesses have a vital role when it comes to malware. Businesses need to be careful on how to maintain a strict security.  These things can prevent data loss, bankruptcy and loss of sales.
A study conducted by Ponemon Institute showed that the number of cyber-crime is increasing rapidly. The number of cyber attacks went from 55% in 2016 to 61% in 2017. There is a similar pattern for the cost of these cyber attacks. The results conveyed that the number of costs went up from $955,429 in 2016 to $1,207,965 in 2017. This reason behind this result is the disruption of operation.

“Cyber attacks represent an existential threat to some small businesses as firms could go bankrupt from the costs of responding to a cyber attack, or from the lost revenue and costumers resulting from a business disruption.” – Daniel Castro, Senate of Small Business Committee

Cyber Attack in Large Firms

Cyber attack also occurs in larger firms and there is a high risk of malware programs. Even large firms need to encounter cybercrime in a careful manner to prevent data loss and service disruption.  A report stated that a company of 2500 employees spent $1.9 million on just maintaining security.
A study was conducted by Hartford Steam Boiler Inspection & Co. The result suggested that 53% of large firms have experienced at least one cyber-crime for the past 12 months.

Cyber-crime in Big Governments

In giant governments, the cyber attack also needs to be encountered. Cities and countries faced tons of security breaches and very few governments have the system to protect them.
Whether local or international, governments must identify the issues of these cyber attacks. A survey was taken by International County Management Association.  The results revealed that almost 30% experienced an hourly cyber attack. Some 20% stated that they faced cyber attack on a daily basis.
In May 2018, the Management and Budget released a report of Federal Cybersecurity Risk Determination. The report stated that 71 of the 96 agencies were either at some risk or at a high risk of cyber-crime.

Examples of Cyber-Crime

  1. eBay – An online auction site, eBay suffered cyber attack in which 233 million customers’ login information got hacked. This suffered a massive data loss in February and March 2018.
  2. Home Depot – Cyber criminals stole 56 million customers’ credit and debit card information. Even 53 million customers’ email was also stolen. The company managed to protect themselves by installing anti-virus software.
  3. Yahoo! – An email giant corporation that affected a very huge loss. About 273 million usernames and passwords got revealed to cyber criminals.
  4. Dairy Queen International – In October 2014, about 400 credit and debit cards information got hacked. This affected payment systems.
  5. Apple – hackers accessed Apple iCloud, their online data storage system. The hacker posted private pictures of celebrities online. It was stated that their systems were not monitored.

So companies and small businesses, be careful! Beware about the information you distribute and think before you post it!
You do not want to lose your data, your reputation, Hacking and your sales!

Avatar for Fatima Bhutta

Writer specializing in business, opinion pieces, and technology education. I’m also an avid reader with a degree in Business & Management from the University of Bolton.

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