Cyber security continues to pose one of the biggest threats to the world economy. Recently, in May 2019, we saw the auction of a 2008 Samsung laptop which contained six of the most dangerous software viruses: WannaCry, BlackEnergy, ILOVEYOU, MyDoom, SoBig and DarkTequilla, that reached a whopping sale at $1.3M. The viruses on this laptop have resulted in $95b of total costs to the global economy, and would continue to be a critical security risk if connected to the internet, causing immense damage by spreading the infection throughout the network.
All ”connected” companies hold huge potential value for cyber attackers, and this value ranges from an active database with real profiles to credit card information that can be quickly sold on the dark web. Information security is critical for any business. As the exposure of a new company and its brand increases, the potential of a cyber attack grows significantly.
Investment in data protection and data integrity should be a business priority the moment an MVP is launched. Critically, a cyber security strategy should be implemented alongside the business plan and sales strategy.
An increasing number of enterprises are requiring support on digital and cybersecurity solutions, since they cannot overcome this challenge alone. Since platforms and systems are vulnerable the moment they are "connected" to the internet of the world, new solutions are always being put into place.
Nearshore software development companies, like Hexis Technology Hub, offer a variety of IT services, of which, cybersecurity has naturally become a primary concern. Cybersecurity has a range of threats, and at Hexis, we've recently seen the impact it can have in real terms. We supported a client to recover from an attack, which halted their sales due to the violation of digital contracts, and this had a crippling effect on their business.