Internet outages are a costly problem, both for businesses and individuals. According to a recent study, internet outages cost businesses around the world $43 billion a day. This is a significant cost, and it underscores the importance of cybersecurity.
The study that found this figure was conducted by Atlas VPN, a cybersecurity company. The study looked at the economic impact of internet outages in 112 countries. It found that the United States and China are the countries that are most affected by internet outages, accounting for almost half of the global cost.
The study also found that internet outages are becoming more common and more costly. In 2022, internet outages cost the global economy $24 billion. This is a significant increase from the $5.62 billion that internet outages cost in 2021.
Factors Contributing to Internet Outages
Various elements contribute to internet outages, with cyberattacks standing out as a leading cause. Cybercriminals target internet infrastructure, causing disruptions to services for millions of users. Direct attacks on businesses lead to website and application shutdowns. While natural disasters, human errors, and equipment failures also contribute, cyberattacks have become increasingly common and sophisticated, emerging as a primary cause.
Impact of Internet Outages
The impact of these outages is severe, causing businesses to suffer revenue loss, decreased productivity, and customer exodus. Simultaneously, individuals encounter difficulties accessing essential online services like banking, shopping, and healthcare.
Preventing internet outages hinges on robust cybersecurity measures. Implementing security controls such as firewalls, intrusion detection systems, and educating employees about cybersecurity best practices are crucial steps for both businesses and individuals.
Effective Tips to Shield Against Outages
- Create a cybersecurity plan: Identify assets, risks, and controls, outlining how to respond to cybersecurity incidents.
- Use strong passwords and multi-factor authentication: Safeguard accounts against compromises.
- Keep software updated: Security patches in updates fortify systems against known vulnerabilities.
- Exercise caution with links and attachments: Avoid falling prey to phishing attacks that can breach systems.
- Educate employees on cybersecurity best practices: Minimize errors that might lead to security breaches.
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The Significance of Awareness of CyberSecurity best Practices:
Being aware of outage risks is crucial. Vigilance and adherence to cybersecurity best practices can reduce the likelihood and impact of outages on businesses and personal life.
Additional tips for preparedness and awareness:
- Recognize signs of an outage: Slow or unresponsive internet, inaccessible websites, and connection errors.
- Have a backup plan: Consider alternative internet connections or strategies for operating without internet access.
- Communicate during outages: Keep employees or customers informed about the situation and expected service restoration.
- Report outages to your service provider: Assist in identifying and addressing problems promptly.
With awareness and readiness, the impact of internet outages can be minimized.
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