Symbol of a lock on a computer information showing the importance of online security
The Importance of Online Security in the Digital Era

The Importance of Online Security in the Digital Era

The digital era has provided a lot of advantages to everyday life. But with it, it has bought a new threat in the form of hacks and security breaches. This is a problem for all of us who spend the majority of our time online as information is now easier than ever for people to steal. In this article, we will be looking into the importance of cybersecurity in the digital era and how you can benefit in the long term.

Protection of important data

One of the most important elements of online security in the digital era is the protection of important data. With more and more of us spending time online, we are storing more and more information on our phones. This, therefore, means that more needs to be done to prevent this information from being stolen. Whether this is antivirus being installed on the phone or encryption of files as standard, this can help to keep private information as safe as possible.  This comes as the estimated global damage as a result of cybercrime has been estimated at $1.5 billion dollars annually. This is raising rapidly as more and more of us are relying heavily on the internet and our technology in daily life.

Though there are many people lengthening passwords and using antivirus software, this will no longer protect you fully from a cyber-attack. Therefore, it is down to the user and the education that they have surrounding online security as a whole. Whether this is knowledge of secure websites or knowledge of phishing emails and another form of security threat, this is what will protect you in the long term.

The rise of fintech technology

In addition to the amount of important data that we put online; it is also important to consider the rise of fintech technology. Though this has driven forward the cryptocurrency movement and the integration of online banking, this has also bought with its cybersecurity threats. With more and more people using online banking on a daily basis, this has opened you up to fishing schemes and identify theft.

As these issues have become a problem that banks and other financial establishments are providing a simple way of accessing banking information whilst making secure deposit methods available online. This is an issue that will continue to be addressed by banks and online currencies to ensure that all funds are kept safe and secure online. In addition to this, secure deposit methods online have been highly sort after, particularly when shopping or gaming online. This has led a number of businesses to make changes to the deposit methods available to cater to the need for security that many are searching for. This of high importance for many at this time as online security is paramount, particularly when banking from a mobile phone.

The IoT and businesses

Cybersecurity has also become a huge part of the business in the digital era as more and more companies take advantage of cloud storage. Though this may seem like a great idea for the daily operations of businesses, this could leave sensitive information vulnerable to cyber-attack. Because of this, millions of pounds per year is spent on this growing industry. This is only set to continue in recent months as more and more businesses fall victim to fishing attacks and other cybersecurity threats. There have been a number of businesses over the years that have fallen victim to cybersecurity attacks such as the following:

  • Marriott International
  • Sony’s PlayStation Network
  • Talk Talk

The cyber-attacks mentioned above were some of the biggest cyberattacks of the last 10 years stealing data of millions of people. This, however, has led to the development of online security allowing the industry to come on leaps and bounds. This is important as there has been an increase of 56% in web attacks in 2019 alone. This is in part down to the IoT and at home speakers. This is because they do not have cybersecurity in mind can be easily manipulated.

Antivirus is no longer enough

Just 10 years ago, many businesses were left wondering why cybersecurity is needed and how it will benefit their business. But with the full integration of the internet of things and increased dependencies on computers and mobile phone, cybersecurity for both inhouse and outside threats are needed. This is why businesses such as Google allow for 2 step authentications for new logins to ensure that you are monitoring all accounts in case of cyber threat.

Whether you are a small business looking to install a cybersecurity plan or you are an established business looking to do more or there are a number of ways that this can benefit you. Which steps will you be putting in place to implement your cybersecurity plan?


Staff Writer at CPO Magazine