Why Is Cyber Security Important?

Posted On Aug 04, 2022,

Cyber security is important because it encompasses everything that relates to protecting our data from cyber attackers who want to steal this information and use it to cause harm. This can be sensitive data, governmental and industry information, personal information, personally identifiable information (PII), intellectual property, and protected health information (PHI). 

Having advanced cyber defence programs and mechanisms in place to protect this data is crucial and in everyone’s interest. Everyone in society relies on critical infrastructure such as hospitals and other healthcare institutions, financial service programs, and power plants. We need these to keep our society running.

At an individual level, cyber security attacks can lead to identity theft and extortion attempts, which can do serious damage to that individual’s life.

We all rely on the safety of our data and personal information. For example, when logging into an application or when filling in more sensitive data in digital healthcare systems. If these systems, networks, and infrastructures don't have the right protection in place, our data might fall into the wrong hands. In this sense, we're talking about protection in the form of technology and policies.

The same goes for organisations and businesses, governments, the military, and other socially critical organisations. They store enormous amounts of data in data warehouses, on computers, and other devices. Much of this data includes sensitive information. Exposure of this information can in many cases be very harmful—to citizen trust in institutions, to business competitiveness, personal reputations, and consumer trust in companies. 

The right to privacy in the digital world

Privacy is considered a fundamental human right and is protected by law. Previously, this meant that people should be able to live their lives within the walls of their own home without governmental intervention. 

Today, a private life means being able to make free choices without being influenced, to communicate freely, and to search for the things you’d like online. You should be able to do all of these things without having the consequences of your actions impacting your everyday life. Although this is a human right, many people lack knowledge about how their data is being collected, used, and shared on the Internet.

In 2018, GDPR (General Data Protection Regulation) was amended in the European Union to tighten the protection of data for us as individuals. At the same time, important initiatives are run each year to raise awareness and knowledge about cyber security. 

Two such annual events are Cyber Security Awareness Month and Data Protection Day. Data Protection Day is an international event that takes place annually on the 28th of January. The purpose of the day is to promote privacy and raise awareness for individuals, businesses and consumers. This way, everyone gets to learn about how we can better protect our private information in the digital space. 

Cyber Security Awareness Month (ECSM) is an annual campaign run by the European Union throughout October. The campaign promotes cybersecurity among EU citizens and organisations and provide up-to-date online security information.

What is Data Protection Day?

Social media is one of the places where we leave most data and information behind. To illustrate this, a team of researchers from the University of Cambridge and Stanford University looked at how much information they could find about a person only by looking at that person’s Facebook likes. 

The researchers found that, based on only 10 likes, they could get to know you better than your co-workers. Based on 70 Facebook likes, they could get to know you better than your friends. To top it off: Based on only 300 likes, they could get to know you better than your spouse. What’s more, based on your public online activity alone, they were able to predict accurately if you were suffering from depression or taking drugs. 

This illustrates how important such events and campaigns are. We still need to continue raising awareness among people on how their data is being collected, used, and shared. We also need to inspire them to take action to better protect their digital personal information.

​How can businesses ensure that their data about employees, customers, and other data is secure?

Companies have a lot of valuable data, such as business insights and financial data, but also data about their customers and employees. Companies need to make sure that they keep both their own and customers’ data protected and in accordance with current regulations. This also goes for the company’s partners and vendors.

A security breach, in which customer data is leaked, can lead to financial loss. But it can also lead to a loss in customer loyalty, trust and brand reputation. All companies should be transparent about how they collect, use, and share end users’ data. They also need to have in place the security technology, security policies, and management of risks and cyber security that are crucial to keep data protected. 

How can I as an individual become better at protecting my data?

As a consumer, you are responsible for making informed decisions when sharing your personal information. All data about you, such as your age and gender, location, and purchase history, have great value. So does the digital footprints you leave behind when browsing the internet.

It’s not only about what information you give away, but also about what you give companies and applications access to. This can, for example, be when downloading an app. You’re often required to give the owner of the application access to certain information about you before you can start using it. 

This can be access to your microphone, your list of contacts, your location, photos, and health data. Oftentimes, this information isn’t particularly relevant for the app you are downloading—and you might not feel comfortable sharing this information either.

Almost everything about you can be viewed as data—which is why you should always be in full control of the information that you share. Look into the terms of the apps you are downloading, and manage your privacy settings. Always keep in mind what information you are sharing, and with whom.

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