$1 trillion every year. That’s the financial damage to the world economy attributed to cybercrime, according to a joint report issued by the Centre for Strategic and International Studies and McAfee, providers of online security products. From lost revenue to lost reputations, companies worldwide remain susceptible to cyberattacks that can cripple and even shut them down permanently. All this underscores the need for businesses to devote significant resources into preventing and mitigating these attacks by investing in cyber security systems and trained personnel.
Let’s look at three types of serious consequences businesses can suffer from cyberattacks:
Banking giant Capital One took a major hit to its reputation after the private data of 100 million of its North American customers was illegally accessed. When this breach was made public, the company’s stock price immediately dropped by 6%. When a business responsible for the data of millions of people loses public trust, they also lose customers, investors, and revenue. Though the blow isn’t always fatal, recovery can be slow and often requires management shakeups and other organizational changes.
Financial losses due to cyberattacks are sometimes connected to the loss of customers and investors, as previously noted. Beyond this, however, many businesses that have fallen prey to ransomware attacks have paid enormous amounts of money to hackers to regain control of their systems. Insurance giant CNA Financial surrendered $40 million to hackers after a March 2021 data breach. During 2020, the sums ransomware victims paid to hackers grew by 300%, according to one report. In just the first four months of 2021, hackers extorted more than $45 million from organizations including hospitals, government agencies, and large businesses.
A Fatal Blow
While large businesses may have the resources to withstand the damage of a cyber security incident, the same isn’t always true for smaller businesses, defined by the federal government as companies having fewer than 500 employees. A survey conducted by the Identity Theft Resource Center revealed that 58% of small businesses had experienced some kind of cyber security issue. About 44% incurred resulting costs of up to $500,000. For many small businesses, this may necessitate a reduction in staff, a reduction in services, or closing their doors altogether.
Elevate Your Cyber Security Expertise and Credentials
Whether you own a business, work for one as an IT specialist, or you simply wish to be part of the cyber security solution for your company, up-to-date cyber security training is essential. However, your busy professional and personal schedules may require you to keep the timeframe of any new training limited. The University of Texas Permian Basin has two potential solutions for you in the form of 100% online certificate programs. These programs are designed to help you quickly develop crucial cyber security skills and techniques you can immediately apply on the job.
Determine which program is best for you and discover the advantages the online format offers now:
Available on a non-degree basis, our Undergraduate Cyber Security Certificate helps you build the technical and strategic expertise needed to identify and communicate cyber security issues that may compromise your organization’s IT operations and software. Throughout this 14-credit program, you’ll acquire skills, methods, and tools that you’ll find invaluable in an entry-level cyber security job. You can pursue this undergraduate certificate as a stand-alone credential and finish in as little as two semesters. If you wish to add it to a UT Permian Basin undergraduate degree program, you may do so after you’ve been formally accepted to that program.
If you’ve already completed a bachelor’s degree and meet some other basic requirements, you may qualify to apply to our Graduate Cyber Security Certificate program. Through this 12-credit program, you’ll explore advanced encryption techniques, learn how to recognize network security vulnerabilities and breaches, and become proficient in the tools that can help you avert and rectify these issues. In as little as two semesters, you’ll be equipped with immediately applicable knowledge and a new credential—and better positioned to compete for advancement into coveted leadership roles with greater esteem and responsibilities.
Complete Your Program 100% Online
The 100% online format of our online cyber security certificate programs empowers you to choose any location to complete your coursework. Many of the courses are delivered asynchronously, so you can also choose when to devote time to your studies. This flexibility enables you to earn your certificate while keeping all your existing professional and personal commitments.
Help protect your livelihood against cyberattackers. Our 100% online cyber security certificate programs will show you how!