In today’s high technology environment, organizations are becoming more and more dependent on their information systems. The public is increasingly concerned about the proper use of information, particularly personal data.
The threats to information systems from criminals and terrorists are increasing. Many organizations will identify information as an area of their operation that needs to be protected as part of their system of internal control.
It is vital to be worried about information security because much of the value of a business is concentrated in the value of its information as it is the basis of Competitive advantage. Valuing and protecting information are crucial tasks for the modern organization.
The purpose of information security management is to ensure business continuity and reduce business damage by preventing and minimizing the impact of security incidents. The most damaging aspect is the loss of data and software. Sources of damage such as computer viruses, computer hacking and denial of service attacks have become more common, more ambitious and increasingly sophisticated.
Poor supervision of staff and lack of proper authorization procedures are frequently highlighted as the main causes of security incidents. Companies vary in their approach to preventing security breaches: some prohibit everything, making mundane access tasks difficult others are too lax and permit access to all by all, exposing themselves to a high degree of risk. Business efficiency relies on the right balance and this is where standards can help.
Basically we need information security for the following reasons:
- To maintain confidentiality, integrity and availability of information.
- When any sensitive data falls into the hands of an attacker, there are chances of threats like:
– Identity Theft
– Data Leakage
- Breach in security leads to:
– Reputation loss
– Financial loss
– Intellectual property loss
– Legislative Breaches leading to legal actions (Cyber law)
– Business interruption costs.
When Sony Pictures Entertainment was targeted by hackers, all their data was leaked. The salary details of the cast and crew, Passport information, unreleased movies were all exposed online. This resulted in loss of revenue. Not to forget reputation loss, this can cause then less business in future.
To prevent such attacks, it is important that proper security measures are deployed in every organization.Share This: