Report: Analyzing Challenges in Cyber Security for Businesses

This report delves into the significant challenges businesses encounter in the realm of cyber security, a critical concern in today's rapidly evolving technological landscape. It explores the various types of cyber threats, including malicious attacks, viruses, and network intrusions, while also examining the measures and technologies businesses employ to safeguard their networks, data, and systems. The report reviews literature from various authors, highlighting issues like the increasing reliance on technology, funding limitations, lack of knowledge, and the interconnectedness of supply chains as key challenges. It also discusses specific threats such as phishing, botnets, malware, key loggers, and social engineering. Moreover, the report touches upon factors like lack of leadership, collaboration issues, and regulatory limitations that further complicate cyber security efforts. The report emphasizes the importance of proactive measures, updated security strategies, and employee training to combat cybercrime and protect valuable business assets. The report concludes by stressing the importance of cyber security for businesses, governments and individuals.

RUNNING HEAD: Challenges in Cyber security for Business
Business Research
Challenges in
Cyber
Security for
Business

Challenges in Cyber Security for Business 1
Table of Contents
Introduction...........................................................................................................................................2
Project Scope.........................................................................................................................................2
Project objective....................................................................................................................................2
Literature Review..................................................................................................................................2
Conclusion.............................................................................................................................................7
References.............................................................................................................................................8

Challenges in Cyber Security for Business 2
Introduction
Cyber security has become one of the major challenges for the businesses in the present years
and this is due to the rapid technological development at a global level. The cyber threats are
growing at an alarming rate because of increased use of computers, internet, mobiles and
other devices. There are different types of cyber threats like malicious attacks, viruses,
network attacks, etc. and to fight these attacks, there are various cyber tools which develop
the security mechanism and help in overcoming the cyber threats (Clemente, 2013). In this
Literature review the challenges in Cyber security for business will be discussed by going
through many secondary sources. The views of different authors will be discussed by
analysing them.
Project Scope
The scope of the project is wide as Cyber security is a buzzword nowadays which is to be
adopted by every business to protect their privacy and security of their data and information.
This project will focus on the types of threats and challenges which has to be taken care by
cyber security measures adopted by the businesses.
Project objective
The main objective of the project is to focus on the challenges in present environment of
business which the companies face in maintaini9ng cyber security for the purpose of securing
the data and information of the business which should be confidential.
Literature Review
Cyber security can be understood as the measures, practices and technologies which are
adopted to protect the networks, data, information and systems of the business from attacks
and damages from unauthorised access. It can also be understood as the security of
information technology.
According to Kaplan, Sharma & Weinberg (2011) Computer technology is very beneficial for
the growth and development of the businesses today but they are also affecting the security of

Challenges in Cyber Security for Business 3
the business data with cybercrime. That is why, Cyber security is important for the business
but there are some challenges in Cyber security which have to be met to increase the
effectiveness of the same. These challenges may includes the more access and use of
technology, lack of funding, lack of knowledge about the cybercrime and cyber security,
pervasive digital data, interconnections of supply chains and ignorance of the effects of
cybercrime by the businesses.
As per Lord (2017), Cyber security is a big business issue because of the abundant use of
technology in the businesses these days. The cyber criminals collect data from different
sources and try to breach the privacy of the business. The businesses irrespective of their size
are becoming the prey of the cyber-attacks which ultimately harms the business. The
government of USA has considered cyber security as the most critical issue in the current
times. Cyber security needs much more engagement from the top, middle and lower
management of employees to secure their data on an individual level. Cyber security needs to
be reformed and checked time to time to keep it updated and to face the challenges in a much
better way than ever before. Some of the other challenges of cyber security to business
include network security, application security, data security, security infrastructure, cloud
security, mobile security, education and awareness in users.
In the opinion of Babate, et. al. (2015), the increase in the growth of internet is one of the
main challenges to the cyber security in 21st century. Then, the emergence of smartphones,
laptops and other digital devices enhanced the threat. Some of the emerging challenges and
threats in cyber security to business are explained as below:
Phishing
Phishing is a threat which is due to internet and here the client’s credentials are gathered by
using deception technique. It is a fraud done through internet in which the client’s passwords,
account details, card details are taken and used for wrong purposes. In July 2011, a person
was sentenced to jail for 12 years for stealing the information of more than 38 thousand
people (Foreshew, 2017).
Botnet

Challenges in Cyber Security for Business 4
It can be explained as the network of computers which are controlled by Cyber criminals for
the purpose of crime and breaking the law. It gives rise to spam and viruses which ultimately
affects the whole network of the computers.
Malwares
Malwares and Spywares are basically programmed systems which are designed to collect
information from the computer systems of the client. These can be a big threat to the
businesses (Chertoff, 2008).
Key Loggers
These are the programs which are recorded on the keyboards of the client and when they on it
later on, the information are recorded. The private information then can be used for accessing
their accounts and cards and misuse can be done.
Social Engineering
It can be referred to the science or technique which is used to trap the client so that they
reveal their valuable information. It is like the human interaction which is used to build
honesty and then using it for the criminal purposes (Gharibi and Shaabi, 2012).
Virus
Virus can be explained as a program which spreads from one system to another and
multiplies like this. This is designed to harm the computer systems and the information in it.
It can also spread through external devices in the systems like pen drives.
The history shows that these threats have affected the businesses in some or the other way
form past few years and from this it is realised that there are some positive as well as negative
developments in the cyber security. It is seen that the cyber criminals have now become more
active and their activities have grown in business in recent years. The crime increased with
the increased use of mobile Also, the emergence of digital technologies like Cloud computing
and Internet of things have also contributed to the development of cyber-criminal activities.
On the contrary, the good developments have also experienced. The government have
become active for the protection of confidential data and security and a strong internal cyber
security policy has been framed to cease the spread of cybercrime. The vendors and

Challenges in Cyber Security for Business 5
businesses have now become proactive and constantly update their security systems for better
safety. To fight cybercrime, the businesses have come together (Kaplan, 2015).
The business in particular, faces the threats to their network of computers through encryption
of USB’s, connectivity of third party devices, encryption of disks, etc. Also, some of the
factors which pose challenge to the Cyber security in Business include:
 Lack of leadership: It is a big challenge as correct actions need to be taken in the
businesses for fighting the cybercrime and managing cyber security. An effective
leadership is required handle the issues related to security (Donaldson, et al, 2015).
 Collaboration issues: Collaboration is required in the organisations to fight together with
cybercrime. Every company or vendor needs collaboration in order to withstand
cybercrime (Mowbray, 2014).
 Lack of Education and awareness: the demand of the ICT workers will increase with the
time and right now there are very less workers of ICT which shows the lack of knowledge
and awareness of ICT among employees. Education is required to instil knowledge
among people to handle the cyber security issues and to develop good policies for the
same. The sector needs to be educated and aware about the risks.
 Legal and Regulatory issues: There should be some regulatory limitations for limiting the
breach of privacy and to facilitate better cyber security.
 Increased use of technology: The heavy dependence on technology has opened the gates
for the cybercrime.
 Increased number of users of internet: the increase in the number of users of internet and
technology has given chances for the attackers to attack as the nu7bers of targets have
also been increased (Grocke, 2017).
 Ease of access to tools: The cyber criminals now can easily access the software’s and
tools which are used to commit crime which have given encouragement to the
cybercrime.
 Ease of access to information: the information nowadays is easily available on internet
and other platforms which help cyber criminals to accomplish their goals. They can easily
access the passwords and commit the crime. As per the report by ACS, 63% of the
breaches happen due to weak passwords or stolen passwords.
 Lack of control: the lack of mechanisms to have a control on the cybercrime leads to the
challenge to cyber security. Lack of governmental laws and control contributes to it. Also,

Challenges in Cyber Security for Business 6
the funding issues are faced by the vendors which also encourage the criminals to carry
on their activities.
In the opinion of James (2016), it is very important to secure the future of Australia so that it
can deliver productivity, innovation and business without getting affected by any cybercrime.
He further adds that as the technology have evolved; it provided some of the opportunities
but also posed some challenges. Cyber security is not optional but is essential for the business
and the security of its data and information. As the world is in transition phase, becoming
global and online and each and every data is stored stored either in a gadget, application or
any other online platform, it is now essential to develop the information systems globally.
Minimising the impact of cybercrime or combating the attacks of virus’s spams and other
threats to the hardware’s or software’s is called the practice of cyber security. Most of the
industries which are targeted include Manufacturing, Information technology, transportation,
Financial service3s, healthcare and public services. Cyber security is also about people. If
people understand the basic need to maintain cyber security and to handle the cyber threats,
cyber security will become much easier. Cyber security is becoming a challenge because
most of the hackers take minutes to breach the data but the companies take weeks or months
to recover from the same. Because of the mistakes done from the employees end, the
companies have lost much of their asset value. In cyberspace, every minute an attempt of
attack is made (Hall, 2016).
Looking into the future, the countries will have to become active and emerging cyber security
solution providers. The risk from the systems cannot be eliminated completely but it can be
minimised. The cyber-attacks are costing too much to the businesses which can be as high as
$500 billion per year. Cyber security creates opportunities for the industries as it creates
wealth for the businesses, it can also be seen as a provider of employment. For Australia,
Cyber security is pivotal to its future and for the benefits of the society. For encouraging the
businesses for maintaining good cyber security, the government should set best policies and
procedures. There should be effective laws and regulations which limits the activities of
cyber criminals. It is important to ensure that the staff of IT and specialists in the IT
department should be trained effectively so that the business could monitor its activities and
save its data and information (Kostopoulos, 2013).

Challenges in Cyber Security for Business 7
The businesses should get on to the new business driven model for cyber security. The
companies now have to see that how the technology assets of the company should be
protected from the malicious damage and other attacks. For e.g. in the business devices, the
specialists should be restricted to used it for their personal use. Cyber security should be
made as a key part of the business strategy of the company. The senior executives should be
involved and the collaboration should be made in the top and lower management of
employees to understand the importance of maintaining high cyber securities in the business
(Wright, Dawson and Omar, 2012).
The cyber security strategies should be constantly updated as the needs and requirements of
the business evolves in the 21st century at a rapid pace. The individuals can protect the data at
their own level like the passwords should be changed constantly, the training should be
attended seriously and it should be taken as own responsibility to secure the organisational
information. Cyber securities in the businesses are posed too many challenges because of
which the effectiveness of the protection is hampered. The serious challenges also includes
the continuous efforts from the side of hackers, changes in requirements, global connections,
the time lag between data breach and detection of breach and frequent attacks (Nojeim,
2010).
Conclusion
It can be concluded that in today’s scenario when the cyber security challenges are prevalent,
a lot to be done to face these challenges. The government of Australia need to reshape and
boost up the strategies which help in meeting the challenges of Cyber security. The nation
will have to pay more attention to include the courses in the universities which educate the
young talents about cyber security and related subjects. This will generate the employment
opportunities and will also lead the growth and development of the nation and its businesses
to the next level. Different types of threats and challenges of cyber security have been
discussed which affect the cybersecurity adopted by the nations. It encourages the cyber
criminals to enhance their activities and this affects the businesses of the nation. This
ultimately affects the productivity and revenue of the companies. The companies could train
their employees or could regularly update their systems in order to protect their systems from
cyber-attacks. This will help the companies to integrate the data and to protect it from getting

Challenges in Cyber Security for Business 8
it breached. It can be said that prevention for the future years will have to be done for making
the safe future for the country.

Challenges in Cyber Security for Business 9
References
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Threats Landscape’, International Journal of Advanced Research in Computer Science &
Technology, Vol. 3, Issue 1.
Chertoff, M. 2008, "The cybersecurity challenge", Regulation & Governance, vol. 2, no. 4,
pp. 480-484.
Clemente, D., 2013, Cyber security and global interdependence: what is critical?. Chatham
House, Royal Institute of International Affairs.
Donaldson, S.E., Siegel, S.G., Williams, C.K., Aslam, A., SpringerLink (Online service) &
Books24x7, I. 2015, Enterprise Cybersecurity: How to Build a Successful Cyberdefense
Program Against Advanced Threats, 1st edn, Apress, Berkeley, CA.
Foreshew, J 2017, ‘Australia faces cyber security skills crisis as challenge’, Financial
Review.
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Gharibi, W and Shaabi, M 2012, ‘Cyber threats in social networking websites’, arXiv
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Grocke, D. 2017, "Emerging cybersecurity threats in large and small firms", Bulletin (Law
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Hall, P. 2016, "Smaller banks face cybersecurity challenges", Westchester County Business
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James, C 2016, ‘Cybersecurity: Threats Challenges Opportunities’, ACS.
Kaplan, J, Sharma, S & Weinberg, A 2011, ‘Meeting the cybersecurity challenge’, McKinsey
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10
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Press, Boca Raton, Fl.
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p.119.
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literature review’, IOSR Journal of Computer Engineering, Volume 12, Issue 2.
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