Building and breaking cybersecurity for applications
What does it take to protect your data?
Yes, we the people a.k.a the users of internet apps around the world share enormous amount of personal and financial information with several applications. We don’t even take a minute to think about how brands are trying to protect the user data from individual and group hackers.
Cybersecurity
Cybersecurity has become one of the most wanted services among the modern application developers considering various attacks coming from multiple angles. You might have noticed news and rumours about data breaches. In fact giants like Google, Facebook etc have reported that a data leak has happened.
Forbes reported that the cybersecurity spending has reached $123Billion in 2020. That’s almost the GDP of several small countries put together. The gravity of the situation can be easily analysed by seeing such a huge investment. Various research and development in cybersecurity were conducted by giants to protect themselves and their customers data from leaking.
Most importantly, it affects a key point.
Reputation
The good thing about giants is that they report leaks which are known (wink, wink). When a company gets to know that their data is leaked or sold in the black market, they suddenly publish a note to the customers mentioning that their system is being hacked and the data breach is real.
This will completely shatter their reputation considering the size of hack and the company. Google and Facebook have reported several minor and major data breaches, but it hasn’t affected their reputation that much. But when a small or medium size organisation reports a data leak, its almost certain that they will lose their data as well as their reputation.
Bottom Line
There are talented unethical hackers and hacker organisations out there. They don’t usually go around hacking a lot of websites: they do it when they understand the quality and importance of the data which can be flipped for millions of dollars in black market. The good news is that almost a good majority of companies are investing in cybersecurity to ensure basic to advanced protection from hackers.
This will keep the customers in a pretty confident stage, but that won’t fix everything. The investment in cybersecurity is never ending and the result could be good reputation and most interestingly putting an end to hacking is impossible.
