Many businesses and organizations now have a new way to connect and offer products and services because of the growth of internet-based technologies. For many businesses, software has evolved into a primary delivery channel. Software delivery is unparalleled in terms of convenience, ease of use, ease of distribution, and speed. All of the advantages of the internet-based software delivery channel have resulted in the internet-based software channel becoming an even greater danger to businesses.
There have been countless anecdotes, articles, and news stories recently concerning organizations that have had their client bases targeted by hostile cyber attacks. Attacks carried out by sophisticated hacker gangs trying to steal intellectual property from businesses and organizations, according to reports. Cyber criminals have become increasingly adept, and attacks have become increasingly complicated. With all of the benefits of the internet-based software delivery channel, one of the most significant issues that businesses confront is the ease with which unscrupulous hackers can obtain access to secret and sensitive information.
Malicious hackers can acquire access to secret or sensitive data through intercepting conversations between a company and its customers or clients in many circumstances. In fact, only a few assaults are totally successful if the attacker does not have access to the communications’ confidential or sensitive information. This is the nature of internet-based software, and any company that sells or distributes software should take the time to prepare how to deliver their product or service in a way that limits the software’s vulnerability to interception and access to secret or sensitive data.
What is the definition of cybercrime?
Cybercrime is the world’s second-largest criminal activity, after the illegal drug trade. The annual cost of cybercrime is projected to be in excess of $800 billion. In 2014, the number of successful assaults on businesses, intellectual property theft, and harmful cyber activity, including attacks on the US government, increased dramatically. More than 1.4 million successful cyber-attacks were reported to the US government in 2014, with more than 200,000 of those being reported to the FBI. The majority of the reported attacks were the result of “Insider Threats,” in which a business was attacked using a compromised employee’s email account. These figures demonstrate how readily, rapidly, and successfully cybercriminals can target enterprises. We’re just getting started. These figures demonstrate how readily, rapidly, and successfully cybercriminals can target enterprises. We are only now beginning to observe the consequences of this tremendous rise in cybercrime.
In 2015, the FBI documented over 2,700 successful cyber attacks in the United States against corporations and other groups. In comparison, there were only about 1,700 reported attacks in 2014. In addition, nearly 100,000 cyber attacks against US companies were attempted.
Most organizations today require software suppliers to meet certain requirements before delivering software to their customers or clients, in order to help limit the risk of a successful attack and the theft of intellectual property.
Implementing a risk analysis and mitigating any potential vulnerabilities is the first step toward satisfying these standards.
Recognizing the Threat
The first stage in building a risk analysis is identifying and comprehending “cyber hazards” and threats in the context of the organization’s commercial activity. It entails assessing the nature of the firm, as well as the products and services it offers, and then finding any potential weaknesses.
One of the first places that an organization will consider, for example, is how the organization uses the internet. It is likely that your organization has already identified and evaluated the potential risks associated with internet based software, even if you are not aware that it is done. In many cases, this first step is the most basic.
Finding vulnerabilities entails gathering any documentation, policies, or standards used in the development of the products or services, as well as any software and network architecture, and identifying any flaws. The process of detecting and analyzing cyber hazards begins with a review of the business activities and products and services provided by firms that use internet-based technologies to generate products and services. They are likely to have considered these types of risks to some extent before purchasing the products and services.
Redington distributes genuine software such as Microsoft Office and Autodesk in some countries in the Middle East.