Why should you invest in a Cyber Security Consultant?

With advanced technology comes the risk of cyber invaders. Frequent attacks like spamming, hacking, black hat practices, and firewall breaches are all over the place. This calls in the need of a cybersecurity consultant.

The role of a cyber security consultant is crucial to all organisations; whether they are small or large, government, or private. They are trained to help prevent and safeguard from security threats and risks.

Who is a Cyber Security Consultant?

Cyber security consultants are trained professionals who keep networks and systems safe from both internal as well as external attacks. Their role is to:

Ø  Regulate access to systems by creating levels of security clearance

Ø  Implement security programs to protect vital information

Ø  Keep abreast of the new cybercrime tools and techniques such as hacking, phishing, viruses, ransomware, malware, etc.

Ø  Assess computer systems, software, and networks for any signs of vulnerabilities

Ø  Design and implement security solutions based on the needs of an organisation

Cyber security consultants are also defenders. However, in order to defend, they must understand how cybercriminals work.

Professionals receive training to explore the weaknesses of systems, which cybercriminals tend to explore. Then, they can use the information and develop additional security solutions to strengthen their systems and networks.

In addition, they are also involved in the following fields:

Ø  Security architecture

Ø  Ethical hacker/penetration tester

Ø  Chief Information Security Officer (CISO)

Why is Data Security So Important?

Ø  Cyber Crime is Commonplace and Expensive: Cybercrime is on the rise. If that is not a reason good enough to invest, think about the expenses involved. By 2021, the cost of cybercrime is expected to cross $6 trillion marks. Companies facing data and security breach are bound to bear these expenses. Litigation also contributes to the cost, as customers affected by breaches sue the company for damages.

Ø  Prevent Investors from Losing Interest: While there are several adverse effects of such security breaches the biggest one, perhaps, is the diluting confidence of investors. For example, when Yahoo was under a cyberattack in 2016, in the middle of a deal of acquisition with Verizon, the former was forced to accept a closing price of $300 million lesser than the original asking price, which was $4.8 billion. Investors now consider cyber security as one of the deciding factors before investing.

Ø  Conform to Latest Business Regulations: As with virus definitions, cyberattacks also change business rules and regulations. As a result, it affects business operations tremendously. For example, in 2017, when Equifax was attacked, 143 million consumers’ data was compromised, thus causing an uproar amongst the public, the government, and the security companies. Thereafter, the government introduced the Data Breach Prevention and Compensation Act. The bill gives policy rights to the Federal Trade Commission along with the power to charge a penalty fine on various credit-reporting agencies with an assurance of compensating victims.

Ø  To Meet the Demand for Privacy: Privacy is a growing cause of concern owing to the rising number of data breaches. Governments are responding by levying strict privacy laws. For instance, the General Data Protection Regulation (GDPR) of Europe requires companies to delete their consumer data on request. In fact, companies utilising consumer data for their targeted marketing tactics would have to amend their marketing strategies.

A cyber security consultant is instrumental for businesses today. It is certainly advised to hire a professional, or a team, to keep your business safe.