Cybersecurity: protecting your data in the digital age

Technological devices are a constant feature of modern life, whether we’re scrolling on our phones during leisure time or working at a computer during office hours. However, their prevalence in our day-to-day lives is not without cybersecurity risk. Keeping our personal data and confidential information safe has never been more important, or more difficult.

According to the Mimecast Email and Collaboration Security report, cybercrime is expected to grow by 15% per year over the next two years. The cost and financial loss of this activity is predicted to shoot up from $8trillion globally in 2023 to $10.5trillion by 2025. In 2015, the cost was at $3trillion. The growth since then represents the greatest transfer of wealth in human history.

In this blog, we’ll discuss why cybercrime is increasing, outline some common cyber threats to look out for, and explore the best practices for maintaining data privacy and data security online.

What is cybersecurity?

The UK Government’s National Cyber Security Centre (NCSC) defines the field of cybersecurity as ‘how individuals and organisations reduce the risk of cyber attack’.

The core function of cybersecurity is to protect the devices we all use (such as smartphones, laptops, tablets, and computers), and the services we access from theft or damage. It’s about preventing unauthorised access (by hackers and cybercriminals) to the vast amounts of personal information we store on our devices and online.

Why is cybercrime increasing?

Organised groups of cyber criminals are motivated by profit. To take the stark financial numbers of cybersecurity threats shown in the Mimecast Email and Collaboration Security report even further, Steve Morgan, editor-in-chief at Cybersecurity Ventures has said if it were measured as a country, cybercrime would be the world’s third largest economy after the U.S. and China.

On top of this, the cybercrime landscape is supported by online marketplaces selling compromised data and tools which enable this kind of crime. The critical infrastructure of cybersecurity measures keep getting more sophisticated, but cyber criminals keep evolving to work their way through digital defences in order to steal passwords, data, or money directly.

Common cyber threats

Here are some of the most common cybersecurity challenges and cybersecurity threats currently undertaken by hackers and cyber criminals.

Malware

Malicious software – malware – is a computer program or a piece of code which is created to do harm to a computer, network, or server. It is the most common type of cyberattack and encompasses many subsets, including ransomware, trojans, spyware, viruses, worms, and others.

Denial-of-service (DoS) attacks

This is a targeting attack which floods a network with false requests, disrupting business operations and leaving users unable to perform any tasks, accounts, or resources on a compromised computer or network.

Phishing attacks

A cyberattack which uses email, SMS, phone, social media, and social engineering techniques to trick a user into sharing sensitive information, such as passwords or account numbers, or to download a malicious file that will install a virus on their device. 

Spoofing

Cybercriminals disguise themselves as a known or trusted source to steal personal and financial information, extort money by getting credit card information, or install malware on a device. Common spoofing attacks are domain spoofing – when an attacker impersonates a business or person with a fake website, and email spoofing – which uses forged sender addresses.

Internet of Things (IoT) attacks

These attacks target an IoT device or network to take control of the device, steal data and digital assets, or join a group of infected devices together to launch a DoS attack. Examples of IoT devices include traditional endpoints such as computers, laptops, smartphones, and tablets, as well as nontraditional devices such as printers, cameras, appliances, smart watches, health trackers, navigation systems, and smart thermostats.

Artificial intelligence attacks

Artificial intelligence and machine learning is growing in ability and usage, so it’s no surprise that cyber criminals have also begun to use it for their own personal gain. Attackers create fake chatbots or virtual assistants in AI-generated social engineering attacks, or carry out identity theft crimes by using deepfakes.

The best practices for securing personal data online

Despite the wide range of cyber threats criminals are employing to steal personal data and information, there are some best practices which everyone can use to help keep themselves safe online and to keep their devices secure. These include:

• Strong passwords: use unique and complex passwords for each online account you have. Where available, use two-factor authentication or multi-factor authentication as a double lock on accounts for data protection. Consider using a password manager to store all passwords securely.

• Regular software updates: keep operating systems, applications, and antivirus software up-to-date to protect against any threats, patching against vulnerabilities with new versions released by providers.

• Secure network: use firewalls, encryption, and virtual private networks (VPNs) to secure network connections and prevent unauthorised access.

• Secure Wi-Fi: using public Wi-Fi can put you at risk, so never access any personally identifiable information or accounts, or enter any passwords or sensitive data when connected to public Wi-Fi.

• Data back-up: back up important data regularly to an external storage solution or a cloud-based storage solution so data can be recovered after a cyberattack or hardware failure. Keep external storage solutions (like USB sticks) safe by putting them in a safe place, and ensure strong passwords are used on cloud storage accounts.

• Incident response plan: develop a comprehensive incident response plan that outlines the steps to be taken after a data breach or cyber attack, including communication protocols and recovery procedures.

• Cyber security training: undertake any cyber security training offered by your employer. If you’re an employer, implement a training programme for your employees to safeguard customer data and personal information from cyber criminals.

Learn more about the importance of cybersecurity in the modern digital world

The digital landscape is constantly evolving, and so is the need for robust cybersecurity measures in every area of modern life, and within every professional industry, from healthcare to supply chain management.

Cybersecurity professionals and the crucial role they perform in keeping personal and financial data safe are in high-demand. Now more than ever there is a need for an adaptable and fast-learning workforce able to roll out and manage an effective cybersecurity strategy.

At City, University of London, we offer 100% online part-time master’s degrees in computer science. These courses will give you expert knowledge in keeping computer systems and servers safe, making you sought-after in a competitive job market.