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Cybersecurity Identity Protection and Ransomware

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Cybersecurity Identity Protection and Ransomware

Cybersecurity protects computers, servers, electronic systems, networks, mobile

devices, and data from damage, digital attacks, theft, and unauthorized access. It is a vast and

complex subject encompassing many areas, including identifying protection and ransomware.

Cybersecurity protocols control, prevent, detect, and respond to cyber threats. For example,

identity theft, malware, phishing, hacking, and ransomware. It has become a significant

concern for businesses worldwide as technological advancements have changed how we

communicate and share confidential information.

First, identity protection is integral to cybersecurity since cybercriminals often exploit

weak authentication and access controls to steal personal information, credentials, or

financial data and use the stolen identity for fraudulent activities such as taking out a loan in

the victim's name. Identity theft can devastate an individual's credit score, finances, and

reputation (Fidler, 2021). Ransomware is another type of cyber threat that highlights the

importance of cybersecurity. The malware encrypts the victim's computing system and

demands a ransom payment for the decryption key. Ransomware attacks lead to business

disruption, financial losses, and data losses. Adequate cybersecurity measures, such as data

backups and user training, help prevent and mitigate the impact of ransomware attacks.

Effects of Cybersecurity Management and Leadership Strategies

Cybersecurity affects modern management and leadership strategies in various ways.

First, cybersecurity has become an essential aspect of risk management in modern

organizations. Leaders need to understand the potential risks their organizations face

regarding cyber threats. Also, they must create effective plans and strategies to mitigate the

risks. Secondly, cybersecurity standards have become more stringent, and organizations must

comply to avoid fines and penalties. Leaders must ensure that their organizations comply

with these regulations and that their cybersecurity measures meet the required standards.
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Thirdly, cybersecurity issues such as data breaches can disrupt business operations

and lead to financial losses (Ali, 2021). Leaders must ensure that their organizations have

proper cybersecurity measures to prevent these issues and enable the smooth functioning of

business operations. Also, cybersecurity incidents can damage an organization's reputation

and erode stakeholder trust. Leaders must prioritize cybersecurity to protect their brand's

reputation and maintain customer confidence. Lastly, leaders should retain talented

cybersecurity professionals to effectively manage their organization's cybersecurity needs.

The professionals must create a culture of cybersecurity and provide relevant training to

employees to ensure a secure workforce.

Advantages and Disadvantages of Cybersecurity

The advantages of cybersecurity systems and methods companies use to address it

include protection, confidence, compliance, and detection. First, cybersecurity systems

protect the company's data and information from cyber threats, including malware,

ransomware, and viruses. The second advantage is compliance. Companies can comply with

data protection regulations, such as the General Data Protection Regulation and the Health

Insurance Portability and Accountability Act (Fidler, 2021). Thirdly, cybersecurity helps

stakeholders and customers have confidence in the company's ability to protect their data and

information, leading to increased trust and loyalty. Also, Cybersecurity systems detect and

mitigate cyber threats quickly and efficiently, reducing the impact of security incidents.

Lastly, cybersecurity is cost-effective. Investing in cybersecurity can save companies from

potentially huge data breaches and recovery costs.

The disadvantages of cybersecurity are, first, it is costly. Implementing and

maintaining cybersecurity systems can be costly, particularly for small businesses. Secondly,

cybersecurity is complex because the systems require expertise and specialized knowledge,

which can be challenging for some organizations to acquire (Zhang et al., 2022). Thirdly,
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cybersecurity gives false positives, leading to frustration and resource waste. Also, some

employees may resist changes, like increased security measures, in their work processes

which can hinder the implementation of cybersecurity systems. Lastly, cybersecurity makes

companies overly rely on technology to protect their data, leading to more attention to crucial

components like training employees on cybersecurity best practices, physical security, and

processes.

Risks that should be Confronted

Organizational leadership must confront risks like phishing attacks when addressing

cybersecurity. The first risk is Phishing attacks, that is, fake emails that cybercriminals use to

trick employees into giving away their access credentials or sensitive data. Organizations

must train their employees to identify and avoid these scams and invest in security software

that notifies employees of potential phishing emails. The second risk is malware, malicious

software designed to damage, disrupt, or gain unauthorized access to a computer system.

Organizations must regularly install and update antivirus software, firewalls, and other

security measures to prevent malware attacks.

The third risk is insider threats which refer to malicious actions that employees or

contractors take to exploit the organization they work for (Yadav et al., 2016). Organizations

need to establish strict access controls, monitor network activity for suspicious behavior, and

train employees on the risks of insider threats. Fourthly, data breaches refer to unauthorized

access to sensitive company information or theft of the information. Organizations should

implement data security measures such as access controls, encryption, and regular data

backups to minimize the risk of a data breach. Lastly, the organization might need more

resources to implement and maintain cybersecurity programs effectively. Organizations need

to allocate appropriate resources and budgets to address cybersecurity risks effectively.

Example of Cybersecurity Failure

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One example of cybersecurity failure is the Equifax breach in 2017. Equifax is one of

the largest credit reporting agencies in the United States that holds millions of people's

sensitive personal and financial information. The breach exposed the personal data of at least

143 million people, including Social Security numbers, birth dates, addresses, and driver's

license numbers. Equifax admitted that the breach was due to a vulnerability in their web

application software that was left unpatched for several months (Ossamah, 2020). several

steps can be taken to address cybersecurity issues. First, companies like Equifax should

prioritize the security of their data by implementing more stringent security measures to

safeguard sensitive data, conducting regular security audits and risk assessments, and

patching vulnerabilities in their systems as soon as possible.

Second, the government should also play a role in regulating and enforcing

cybersecurity laws and standards and holding companies accountable for data breaches that

result from their negligence. Third, individuals can protect themselves by monitoring their

credit reports and putting a freeze on their credit to prevent unauthorized access. They can

also use stronger passwords, enable two-factor authentication, and be cautious of phishing

emails or other suspicious activities.

In summary, cybersecurity is a multi-layered approach that requires the collaboration

of all stakeholders, companies, governments, and individuals. It has become a significant

concern because technological advancements have changed how companies share

information. The impact of technology on individual behavior and modern management and

identifying cybersecurity threats are key strategies to mitigate risks brought about by

cybersecurity. Organizations should weigh the advantages and disadvantages of cybersecurity

by evaluating their systems and training employees.

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References

Ali, S. (2021). Cybersecurity management for Distributed Control System: Systematic

Approach. Journal of Ambient Intelligence and Humanized Computing, 12(11),

10091–10103. https://doi.org/10.1007/s12652-020-02775-5

Fidler, D. (2021). Cybersecurity, Global Commerce, and International Organizations. The

Oxford Handbook of Cyber Security, 496–513.

https://doi.org/10.1093/oxfordhb/9780198800682.013.31

Ossamah, A. (2020). Blockchain as a solution to drone cybersecurity. 2020 IEEE 6th World

Forum on Internet of Things (WF-IoT). https://doi.org/10.1109/wf-

iot48130.2020.9221466

Yadav, S. A., Kumar, S. R., Sharma, S., & Singh, A. (2016). A review of possibilities and

solutions of cyber attacks in smart grids. 2016 International Conference on

Innovation and Challenges in Cyber Security (ICICCS-INBUSH).

https://doi.org/10.1109/iciccs.2016.7542359

Zhang, X., Miao, X., & Xue, M. (2022). A reputation-based approach using consortium

blockchain for Cyber Threat Intelligence Sharing. Security and Communication

Networks, 2022, 1–20. https://doi.org/10.1155/2022/7760509