By Siddarth Bharwani, VP – Brand & Marketing, JETKING Infotrain Ltd

 

 

“Cyber-security is a shared responsibility, and it boils down to this: In cyber-security, the more systems we secure, the more secure we all are” – Jeh Johnson

 

We live in an era wherein practically everyone and everything is connected via the internet, which makes us vulnerable to the exposure of our private and personal information. A much bigger threat looms over large companies and MNCs, as they use the cyber-space to store confidential data. Though this might seem sensible, it poses a massive risk of being extracted by professional hackers. In today’s day and age, there are bigger threats to major corporations. At a global level, cybercrime causes multibillion dollar losses to businesses, which makes cyber-security, an essential function for all these corporations to safeguard their businesses. With the right kind of push, cyber-security, as an industry, is estimated to grow from $120 billion in 2019 to $300 billion by 2024.

 

Ethical Hacking as a new and vital profession

Companies in their search of finding ways to block hacking have recognised the best way to assess the threat posed to their interests, which is to have independent computer security professionals attempt to break into their computer systems. This led to the growth of Ethical Hacking as a new and vital profession. It is estimated that the industry has nearly 2.3 million security professionals, providing internet security across the globe, and is growing at 21% per year. Certified ethical hackers, who are also known as ‘whitehat’ hackers, basically hack systems legitimately under stern protocols, with a specific objective—to secure and encrypt systems from malicious cyber-attacks posed by hackers, who fundamentally rely on encryption and cryptographic techniques.

 

Engineers not well-versed with technologies used by hackers

Big corporations and MNCs generally hire software engineers to handle their cyber-security, as the engineers haven’t received any formal training. Ethical hacking therefore, leads to massive monetary and data losses. Various examples of top notch companies being affected by hacking can be drawn. United Kingdom’s National Health Services was hacked back in 2018, and as a result of these cyber-attacks, it led to 19,500 medical appointments being cancelled, and 5 hospitals having to divert their ambulances elsewhere. Similarly, the Under Armour data breach roughly affected 150 million users of the app. These are clear indicators that engineers are not well-versed with current trends and technologies used by hackers, which can only be combatted by a team of Ethical Hackers that ensures that the organisation’s cyber-space cannot be breached.

 

From a practical standpoint, security problems will continue to prevail for as long as companies fail to adapt to current industry trends pertaining to cyber-security, which affirms that prevention is truly better than cure. There is a need for companies to hire professional units to safeguard their interests, and Ethical Hacking is the best solution in today’s day and age, with information and data becoming more vulnerable than ever.