Cyber Security Breach Research Paper

The actual increasing nature connected with treats and vulnerabilities not just affects specific businesses and their particular consumers, nevertheless in concert this treats present a chronic economical and countrywide stability problem. Since the review clarified, revealing obligation to protect cyber security across all pertinent significant can be growing to be ever more critical. Research equipment usually are extreme and significantly

Since the onset of the first packet switching event that many believe to be beginning of the internet, no other technology besides the printing press has ever transformed the ability to deliver information. Although the internet is used by a large percentage of the civilized world, few Americans realize how vital cyberspace is to our national infrastructure. Today, we are faced with even more threats although it has been a recognized problem since 2009, when President Barrack Obama said “The cyber threat is one of the most serious economic and national security challenges we face as a nation. It’s also clear that we’re not as prepared as we should be, as a government or as a country (Obama, 2009).” Every industry that operates in the United States is dependent on the internet for some aspect of their business. Commerce, transportation, financial institutions, military, as well as industrial control systems are all interconnected. This interconnectedness has created vulnerabilities within their infrastructure that have increasingly become targets of terrorists, script kiddies, foreign governments and hackers of all types.

The world of cyber security continues to introduce new threats each year against network infrastructures and computer devices. In the recent years, the impact from cyber-attacks has wreaked havoc on many company brands and organizational reputations. As this issue grows so does the technology to prevent and protect against these malicious attacks. It is absolutely crucial for organizations and businesses to shift focus from defense for different types of attacks to improving safeguards to mitigate the loss of sensitive data when an attack occurs. In addition to the traditional security technology used to detect an attack, companies will have to include

Cyber-security demands are ever increasing in the field of Information Technology with the globalization of the internet. Disruptions due to cyber-attacks are affecting the economy, costing companies billions of dollars each year in lost revenue. To counter this problem

A data breach is an incident in which sensitive, protected or confidential data has potentially been viewed, stolen or used by an individual unauthorized to do so. Data breaches may involve personal health information (PHI), personally identifiable information (PII), trade secrets or intellectual property. The most common concept of a data breach is an attacker hacking into a corporate network to steal sensitive data. However, not all data breaches are so dramatic. If an unauthorized hospital employee views a patient's health information on a computer screen over the shoulder of an authorized employee that also constitutes a data breach.

Moreover, many organizations within the public and private sector heavily relies on technology to carry out their day to day operations. Those cyber technologies help make many difficult or tedious tasks easier to do and technology can also carry out many of those tasks more effectively and efficiently than humans can. However, cyber technologies are at risk of espionage, cyber attacks, or other crimes such as theft and fraud (Ammori & Poellet, 2010).

When it gets right down to it, in this technologically advanced world, one of the worst things that can happen to people nowadays is having a cyberattack successfully launched against them. In particular, these cyberattacks are especially catastrophic if the end result is nothing short of a data breach. For everyday citizens, they have to be careful not only because

As previously stated, cybercrime is a market with exponential growth. Cyber attack written premium growth is expected to rise from $1 billion in 2015 to $5 billion in 2018. Scalable cyber insurance is important, as smaller business will likely increase as their vulnerabilities become more apparent to cyber hackers. However, coverage for the cybercrime market is in its early stages, making underwriting difficult as there is little data to base prices on. Through October 4, 2016, 725 data breaches have occurred, affecting more than 29 million records. Medical and healthcare breaches account for 37% of the breaches and 48% of the records affected. Travelers is positioned well to leverage opportunities during the demand surge of cyber protection among businesses. External cybersecurity risks will be the main driver of the cyber insurance market. External hackers breaking into company databases, adding ransomware and leaking private

Numerous data breaches and computer intrusions have been disclosed by the nation’s largest data brokers, retailers, educational institutions, government agencies, health care entities, financial institutions, and Internet businesses. A data breach may occur when there is a loss or theft of, or other unauthorized access to, data containing sensitive personal information that results in the potential compromise of the confidentiality or integrity of data. Sensitive personal information generally includes an individual’s name, address, or telephone number, in conjunction with the individual’s Social Security number, driver’s license number, account number, credit or debit card number, or a personal identification number or

The growing risk of cyber attacks has prompted the National Association of Insurance Commissioners (“NAIC”) to adopt new “Cybersecurity Guiding Principles.” The principles are intended to protect consumers by providing the insurance industry with guidelines for protecting client information and identifying risks to data.

People across the world are becoming disproportionately dependent on modern day technology, which results in more vulnerability to cyber-attacks including cybersecurity breaches. Today, the world continues to experience inordinate cases of cybersecurity meltdowns. There is a rapid growth in complexity and volume of cyber-attacks, and this undermines the success of security measures put in place to make the cyberspace secure for users. Cyber-attacks on both private and public information systems are a major issue for information security as well as the legal system. While most states require government organizations and certain federal vendors to report incidences of data breaches, no equivalent legislation exists to cover private entities.

In the previous five years, cybersecurity has turned into the most looked for after calling around the world. More than 90 percent of respondents to an overview directed by the Ponemon Institute (2011) detailed being a casualty to cyberattacks amid the most recent year, costing all things considered more than $2 million for each association. This number keeps on ascending as the two programmers and security devices progress. As indicated by PwC, roughly 33% of all U.S. organizations are as of now utilizing digital protection (Lindros and Tittel, 2016).

In the last decade it’s amazing how technology has advanced over the years and will continue to advance for many years to come. Every year there is a new cell phone from Apple or Samsung, with new features that make our lives more convenient. From faster software to higher picture quality and so on. I am unable to recall the last time I used a camera to take pictures or went to the bank to deposit a check. Technology advances every day and many can’t wait to see what’s next to come. But with new technology comes greater risk for violations of privacy. In the following research paper I will discuss the types of security breaches and the cost associated with these breaches that businesses around the world face on a daily basis.

Almost all kind of large and small organizations might face increasing number of attacks into their network or intellectual property. This may lead to data disclosure, data destruction, and damage of organization’s reputation. There are numerous threats in the cyber space which might be capable of stealing, destroying or making use of out sensitive data for financial and non-financial gains. As the amount of computer, mobile and internet users increases, so does the number of exploiters.

Both of this framework and plan clearly show how cyber security insurance can be considered as the method to help reduce and maintain the level of security attacks among IT practitioners. It is palpable that the decision plan of action in issuing insurance policies involves a systematic process of assessment and evaluation that can help in improving the quality of cyber security. Meanwhile, Bohme & Swartz