Google Committed $10 Billion Investment to Reinforce Cyber Security. Who is Going to Benefit?
Whopping $10 billion! Google makes an investment for the next 5 years to enhance the world of cyber security in the US. Businesses and governments here have not focused on cyber security convincingly until yet.
Google is working to restructure the US government’s zero-trust initiative according to Biden’s May Executive Order. With vulnerabilities increasing with every passing day, American President has put focus on enhancing the security that prevents any further problems.
Google committed $10 billion over 5 years to enhance the response to future cyberattacks in the US. As per the president’s command, Google has put focus on raising the bar on security solutions that can prevent further attacks and threats in any which way.
What Makes This Cyber Security Investment A Much Needed Step?
As technology is upgrading every minute, so is the chances of cybercrimes! Businesses of various industries have been targeted by different cybercrime groups. If this isn’t alarming, what is?
Cybercriminals are targeting both large and small businesses. The attack can make your business suffer for months or even years. The facts are also quite scary. Take a look:
- As per the reports of CyberCrime Magazine, The average cost of a single security breach is around $3.62 million.
- More than 60 percent of the small businesses can go down within half a year if they get trapped under data breaches or cyber-attack.
This shows why Google’s cyber security investment made sense and the much-needed step to this cyber attack hoopla.
Top Security Threats for Businesses
Most businesses save expenses by not installing cyber security. But, instead, they end up paying a lot more than they can even imagine. If you haven’t thought about any kind of cyber security for your business, do it NOW! You never know when your business data is at the risk of damage, theft, or being ransomed.
All you need to do is to establish proper security protocols in your company that can prevent any such issues in the coming time. Take a look at the cyber attacks that have already shaken many in 2021:
- Malware: It is a malicious form of application that is developed to damage computers. It invades your system through physical hard drives, external hard drives, and internet downloads.
- Ransomware: When it comes to a Ransomware attack, the hackers access the victim’s business information and lock them. They ask the victim to pay a ransom to get all the information back. It spreads by opening phishing emails or visiting sites that are already infected.
- Social Engineering: Here, the fraudster attacks the victim, who can be a business employee through social interaction. They manipulate them to avail maximum confidential data.
- Phishing: This attack is related to social engineering as the attackers use fake identities to connect and download malware, avail classified information, and make them visit malware-laden sites.
Ransomware On The Rise
All the above-mentioned threats are quite scary to face. But, above all the given names, Ransomware is the king. It is one of the major threats that have made many large organizations suffer big time. The facts are even more dangerous related to it. Check it out:
- According to Cyber security Ventures reports, every 11 seconds, Ransomware is making its presence felt.
- The estimated loss of Ransomware attacks is around $6trillion in the year 2021-08-30
- By 2025, it is projected that the loss can increase to $10.5trillion every single year.
This is quite scary. The action needs to be taken now! As per the reports of the Cyberspace Solarium Commission, Ransomware is the fastest of all the cyber attacks and also the most damaging of all well.
Basics That Can Save Us All From Cyber Attacks
There is no fully assured process of getting yourself secure from a data breach or cyber attacks but, following the below-mentioned process can reduce the chances by some margin. Take a look:
- Getting the Software Updated: Make sure that your software is getting updated automatically, as it eliminates any kind of vulnerabilities in the future!
- Imply Strong Passwords: If you are using common passwords, then the chance of being attacked is a lot more. Make sure that the password is strong and is not shared with anyone. Use different passwords for different accounts.
- Reduce Data Transfers: You need to state your employees who are working remotely to make sure that the data is not transferred to personal devices.
- Carefully Make A Download: Another important aspect that you need to share with your employees is to say not to download files from sources that are not verified.
- Have a Plan for Data Breaches: You must have a plan ready for any kind of data breach situation. Having a plan can certainly reduce the damage by a big margin!
Implying these steps doesn’t guarantee that you are safe. This is why Google and other company are investing heavily to stop this in the coming time.
Who Can Benefit From The Cyber Security Investment?
Cyber security is now every business’s problem. The recent attacks have been more severe than ever. The rampage needs to be stopped now or else, the world can suffer more than one can expect. Google’s $10 billion investment to reinforce cyber security is one such step to prevent this attack. Take a look at how it is going to benefit everyone around:
- Protection for the employees who are working remotely by safeguarding the sensitive details that can be affected through phishing, malware, adware, and others!
- Boost productivity as it averts the risks of cyber attacks that can stop the work completely. The investment improves cyber security training and makes every employee have a basic know-how of the same. This can reduce the chances of being attacked.
- The investment in the world of cyber security makes more customers trust your business. This ensures that your business is safe and their confidential information remains unharmed. There is going to be no problem whatsoever while doing business together.
- Improved revenue is the major benefit you get with cyber security investment. The more is an investment in cyber security training, tools, and infrastructure, the more is the chances of preventing cyber attacks. This stops you from paying any kind of claims or fines to customers or regulators and eventually boosts revenue as well.
Cyber security investment has to be the most critical move of all. It assures that the organization remains away from all kinds of vulnerabilities and there is a platform that protects your data 24/7. Google and other companies are coming forward with big investments to keep the businesses running without any scare related to cyber-attacks. A perfect movie to win the war against cyber fraud!
Neha Singh is the Founder & CEO of Securium Solutions with a demonstrated history of
working in the information technology and services industry. Skilled in ECSA, Vulnerability
Management, Security Information and Event Management (SIEM), Management, and Business
Development. She loves traveling and tracking.