How cyber attacks have devastating consequences. Law Essay

Consequences of Cyber Attacks
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Consequences of Cyber Attacks
Technology is quickly changing in a world that is reliant on social networks, online transaction, cloud computing, and automated processes. However, technology has brought about the issue of cybercrime, which has enabled criminals to continually develop new forms of attack, and techniques and consequently enabling them to gain access to the controlled environment, and cause damages and even become unreachable. A cyberattack has been described to be intentional exploitation of systems, technology-dependent companies, and networks (Tipi, 2016). Cyber attackers rely on harmful codes to change codes of computers and, which in turn have harmful effects. Research has it that 80% of huge firms had reported some breach of security that costed each firm between £590,000 and £1.4m. This paper will focus on the devastating effects of cyber-attacks.
The Threat Landscape
Computer systems may be compromised by different means. What is more, PC resources are exposed to varying risks with a broad scope of capabilities. The effect on business is pegged on the chances one presents to an assailant (in connection to vulnerabilities inside one's frameworks/systems), the capacities of the aggressors to abuse them, and eventually their inspiration for attacking. The inspiration of assailants shifts from showing their specialized ability for individual credit, budgetary reason, business advantage, or political dissent. The most common types of attack vectors and malware used by cyber-criminals to compromise networks include viruses, worms, Trojans, spyware, and ransomware.
One can view clear generational delineations of attack-then-protection advancements. In each generation, more tools that are sophisticated are used (Tipi, 2016). From curious hackers to business and state-sponsored espionage to organized crime, the new-networked globe has created near unimpeded access to every type of assets and private data—with near complete anonymity (Checkpoint, 2018).
Devastating Consequences of Cyber Attack
The High Costs of Cyber Attack
Based on a 2015 research of over 5,500 firms in over 26 nations globally, Kaspersky Lab and B2B International discovered that one cyber-attack costed smaller and mid-sized firms about $54,653. This figure includes expenses linked to downtime (about $23,000) (MicroAge, 2019).
* The cost for seeking for external help (e.g., IT security consultants) (about $10,000)
* The cost of public relations efforts to manage commu...