Topics In Demand
Notification
New

No notification found.

Cyber attacks are on the rise; are your applications safe?
Cyber attacks are on the rise; are your applications safe?

68

0

Assuming cybercriminals maintain their current attack frequency, cybercrime is projected to experience a 15% annual growth rate, resulting in a global cost of $10.5 trillion each year by 2025. This staggering figure would position cybercrime as the world's third-largest economy, trailing only the United States and China.

Sadly, the menace of cybercrime looms over businesses of all sizes and spans every sector, leaving no room for escape. Considering this, it is imperative that cybersecurity takes precedence and should be a paramount concern for everyone as we approach 2024.

Cyber Security and Software

Naturally, software applications, especially those that are cloud-based, will be the first point of entry for cybercriminals. Applications can give hackers a direct route to your servers and networks, which is where they could damage your business the most. We present more chances for cybercriminals to breach our systems as we continue to rely on technology to develop our operations, enhance our performance, and better engage our workforce.

Every organization should be concerned about cybercrime, but banks and other institutions that handle extremely sensitive data may be said to be the most at risk. According to IBM Security's 2023 X-Force Threat Intelligence Index, the financial and insurance sector was actually the second most targeted industry in 2022, behind manufacturing and the most frequent attack type being ransomware.

It all makes perfect sense to the criminals. Data that is not genuinely valuable to anyone is considerably less of an impact than extremely sensitive and personal information that is stolen and held for ransom. Sadly, you will be at the top of the target list if your company deals with highly sensitive data.

How can I guarantee the security of my applications?

One of the best ways to safeguard your business is to make sure your software developers think about security right from planning to deployment and all the way through ongoing support.

Uncovering risks and vulnerabilities can be done using various tools, one of which is threat modeling. Threat modeling helps secure systems and data by using hypothetical scenarios, system diagrams, and testing. Corrective measures can be developed to close gaps if vulnerabilities are found.

What should I look for in a software partner?

Partnering with a software partner who prioritizes security first is crucial when it comes to application security. Choose a partner who holds the necessary certifications, such as ISO9001, ISO27001, and Cyber Essentials. These well-known frameworks show how seriously they treat cyber security.

Don't take it easy after you identify the right software partner. Make sure they are staying current with best practices and the most recent security risks by regularly checking their security qualifications and accreditations.

Innovature has been certified on ISO/IEC 27001:2013, the international standard on data privacy by Bureau Veritas Certification (BVC). This certification is typically given to businesses whose operational procedures meet high international standards. Handling critical and sensitive data is not just a responsibility but a privilege we deeply value. Our dedicated team has worked tirelessly to ensure that our client’s information remains protected and safeguarded at all times.

 


That the contents of third-party articles/blogs published here on the website, and the interpretation of all information in the article/blogs such as data, maps, numbers, opinions etc. displayed in the article/blogs and views or the opinions expressed within the content are solely of the author's; and do not reflect the opinions and beliefs of NASSCOM or its affiliates in any manner. NASSCOM does not take any liability w.r.t. content in any manner and will not be liable in any manner whatsoever for any kind of liability arising out of any act, error or omission. The contents of third-party article/blogs published, are provided solely as convenience; and the presence of these articles/blogs should not, under any circumstances, be considered as an endorsement of the contents by NASSCOM in any manner; and if you chose to access these articles/blogs , you do so at your own risk.


Delivering future-ready IT solutions

© Copyright nasscom. All Rights Reserved.