Why You Should Invest in Cyber Security

T-Mobile is Warning that a data breach has exposed the names, date of birth, Social Security number and driver’s license/ID information of more than 40 million current, former or prospective customers who applied for credit with the company. Get Secured Now with Norton 360

T- Mobile was the latest victim of a massive cyber-attack where the personal information of more than 40 million customers was leaked in a data breach. A New York Times article titled, “T – Mobile Says Hack Exposed Personal Data of 40 million People” by Isabella Grullón stated that a vendor had reportedly been trying to sell $270, 000 worth of stolen information from T – Mobile. Customers personal information including names, birthdays, and social security numbers were compromised during the attack. After the incident, T- Mobile committed to offering free security services to all customers.

Incidents such as the one that occurred with T – Mobile are happening more and more frequently. Advances in technology have significantly increased productivity and profits for many businesses. However, these advancements also aided in the increase of cybercrime.  Especially since the outbreak of COVID 19. The increased traffic produced by companies, schools, hospitals and other organizations moving operations online made vulnerable networks more susceptible to cyber-attacks. The Harvard Business Review published an article by Tom Johansmeyer titled, “Cybersecurity Insurance Has a Big Problem.” The article stated that in 2020 cyber security attacks sky rocketed. According to the article, “…last year saw increased bad actor sophistication, propensity in ransomware cases and a broad swath of geopolitical uncertainty – conditions that hackers found favorable” (Johansmeyer, T).  Some of which could have been prevented had better security measure been implemented. Yet, many organizations are not enforcing best security practices with some overlooking the issue until a cyber breach occurs. Daniel Missler, a security representative and technical writer interviewed by The New York Times stated, “The security programs most companies have are just struggling to keep up” (Grullón Paz, I). Organizations need to step up the security to protect their companies.

Top (3) three benefits of investing in Cyber Security

Profit – If companies invested in Cyber Security tools and methods, they would not only save money that could be used for other business ventures but it would…