cyber risk

Dangers in the Digital Age

In the digital age, it seems no one is immune to cyber risk. Particularly problematic for those working in the financial industry, the fallout from a web-based or network attack can be devastating. Every industry is susceptible to attack, as evidenced in recent news reports.

Types of Cyber Attacks

Cyber crime is usually committed in one of two ways:

  • Attacking with the goal to disable the target computer
  • Attacking with the goal of accessing the target computer’s data

While firewalls and data security systems are continually being monitored and improved, the efficiency of these attacks makes it difficult to detect beforehand.

Known Cyber Attacks

During the summer of 2017, Equifax reported that criminals had breached their cyber security and gained access to the personal information of nearly 150 million people. Back in 2013, a massive hack occurred into the Yahoo email network. This was a tech company that new of cyber risk, and yet still was unable to prevent their own breach.

Prime targets for cyber attacks are those that offer something of significant worth to the hacker or criminal. Most of the time it is financial gain or access to personal data that can be traded, sold or exploited for additional funds. Keeping your information safe online is going to take more effort, given the dependence on the internet for many daily transactions.