Emerging Global Cyber Security Trends in Sustainable Business Practices

Abstract

Newton's law can be adopted in a fitting manner when it comes to cyberspace. The reaction from adverse groups who are a source of cybercrime seems to use the internet faster than the productive groups such as business firms, governments and Netizens. The e- way of life across continents said to be IT revolutions which lead to great boom of business and relations among nations. Besides the applications of business analytics in assessing the market trends and forecasting, use of Internet in business has enhanced the cyber threats despite the opportunity of being omnipresent on the global platform. Hackers use frequently the global network to steal vital business information and bow companies to compromise on various businesses issue. Thus, organizations today have to rethink their defenses and move from reaction to anticipation. Managing information security is a more complex issue than the technical challenges. The information management is built on the critical infrastructures, organization, and technology. Security lapses are management failures more than technical failures. Recent research shows that corporations worldwide are losing hundreds of billions of dollars annually from the loss of Intellectual Property, trading algorithms, destroyed or altered financial and consumer data, diminished reputations, as well as risking increased regulatory and legal exposure. And, the situation is getting much worse. Finally, the economics of cyber security favors the attackers. Cyber attacks are relatively cheap and easy to access. The attackers’ business plans are expansive with extremely generous profit margins. Meanwhile, defense tends to be a generation behind the attackers. There legal instruments punishing the cyber criminals seem to have forum non-convenes and there is complex situation across jurisdictions in penalizing and containing the cybercrime. This paper is an attempt to examine the risk posed by cyber threats to business.  The necessity of business firms to face up to the threats of cybercrime? And also to find out mechanisms to improve cyber security and create awareness; Efforts to improve cyber security must be able to adapt rapidly to emerging threats, technologies, and business models. There is a need for cyber security as e- business booms across the globe because of not only conducting the business affairs but also to protect the state and people of the globe.