With increased connectivity, the real world and the digital world are becoming intrinsically connected. The Internet of Things is growing exponentially and more and more devices in offices, on roads and in homes form part of this interconnected network. Cars are propelled without people at the wheel, big data is no longer just tech jargon, and it is becoming simpler to track mobile phones, cars, and even people remotely. While this is an exciting time for technological growth, these incredible developments also have a downside. One of the biggest drawbacks to global tech progress is that third parties now have unparalleled access to private information, which is ostensibly securely stored online. This creates various cyber vulnerabilities to businesses and individuals that are unfortunately mostly ignored.

Cyber Threats

After hackers penetrated hackable software in Chrysler’s database 1.4 million vehicles had to be recalled resulting in massive losses. Digital spies are exploiting trust relationships for financial or political gain.

personal details

Bank application personal details

Corporate companies have insane levels of access to consumers’ digital movements and personal information. These examples draw a rather bleak picture – and this is only the tip of the iceberg in our increasingly connected world. Research is being conducted to identify and assess potential threats, and to formulate solutions. Some of the findings were:

  • The movements and habits of online users are being tracked without their consent
  • Even when users are aware of this and take steps, pattern-matching algorithms still keep track of their movements
  • Options to limit data infringements are limited
  • These is a mammoth lack of digital privacy in the world
  • The need to address data privacy problems is increasing

Cyber Safety Options for Consumers and Companies

Once a consumer opts in to an affiliation, there is little they can do to secure their personal data, but the following protective measures are advised:

  • Download reputable software for blocking and deleting cookies
  • Avoid downloading unnecessary apps
  • Use strong passwords and do not repeat the same password

Unfortunately, the risks are higher for companies and maintaining cyber safety is far more complicated. It is highly recommended that companies approach a cyber-safety professional to implement preventative measures and to deal with threats.

An International Issue

While the security of a country is its own responsibility, the digital world stretches across the globe and it is not always possible to determine whose responsibility digital safety is. It is interesting to note that there is a significant lack of experts in the field of cyber security, despite the upsurge in digital tech. Research has revealed that at least a million skilled workers are needed to ensure the digital safety of companies around the world. One sector that has taken off recently is cyber insurance. Unfortunately it is not without issues. Policies are not providing protection to policy-holders for reasonable data protection and are rife with exceptions. The reality that has not yet sunk in is that the economy will be affected if measures are not taken to deter cybercrime. The first step for companies and consumers alike is to start gathering knowledge. Without revealing the cause, a problem cannot be properly addressed. The only way forward is to harness information to explore potential solutions to this major threat.