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Cyber Attacks (Consequences (Data (Time delay in backups can resultin…

- - - - An attack can damage electronic data stored on your computers. For example, a virus renders your sales records useless.
  - - - A successful cyber-attack can lead to the loss of your company's critical data including customers' personal information. Attackers can use this data to demand ransom from you or harass your customers. When hackers steal your customer data, you risk falling into endless lawsuits and eventually declaring bankruptcy.
  - - - Cyber attacks often result in substantial financial loss arising from: theft of corporate information. theft of financial information (eg bank details or payment card details) theft of money.
  - - - Operational- the operational running of the business will be affected by the time taken to reinstall the backup data. the time delay will mean the business cannot function normally, either between departments (internally) or with customers/ suppliers (externaly)
      - Financial- financial consequences can impact the business if customers data has been lost, as compensation may heave to be payed
      - Commercial- A cyber-security attack can mean the business cannot function normally. How the attack will affect the business will depend on the type of business that has been affected. For example, a retail business could function with limited operational consequences, but a power generation business may be unable to function safely and may have to be shut down until the data and systems have been restored.
  - - - Data- Data can be lost and may not have been backed up, this depends of the timing of the attack and the backup schedule. There may be a time delay before the data is reinstated, which may have an impact on how a business can interact with its customers/ suppliers. Customers' orders may be lost, including those placed online. If a customers' data has been lost this could result in identity theft.
      - Reputation- The business may not be seen as trustworthy and its reputation may decline. Customers/ suppliers may not trust the business to safely protect their data, so they may move their custom to a different business or stop supplying the business with goods and services.
      - Financial- A business could lose financial data such as accounts data. Records of who owes the business money may be lost. Invoices may have to be recreated if the data needed to do so is available. If a persons data has been lost then the companies may have to pay out compensation to the data subjects. this action required by the legislation relating to the holdings of personal data. The data subjects may also suffer financial loss as the stolen personal information may result in identity theft
  - - - They can result in the theft of valuable, sensitive data like medical records. They can disrupt phone and computer networks or paralyse systems, making data unavailable. It's not an exaggeration to say that cyber threats may affect the functioning of life as we know it. The threats are growing more serious, too.
- - - - When personal details are stolen and used to commit fraud, for example taking out a loan in someones name.
  - - - Productivity is the first thing to suffer when data destruction occurs, lost files may take hours or even days to recover. Negative publicity can damage your business reputation permanently. Some organisations spend hundreds of thousands of pounds repairing their brand after a data loss event. If customer data or employee records are compromised, the Information Commissioner’s Office may levy fines of up £500,000 against your company for failing to comply with the Data Protection Act. The financial consequences are compounded if affected individuals decide to take legal action against your business.
  - - - Acyber attack where the attackers attempt to prevent authorised users from accessing the service. During a DoS attack the attacker usually sends lots of messages asking the network or server to authenticat requests that have invalid return addresses.
  - - - Manipulated information will greatly impact the businesses. If the data collected and provided by any company is not reliable, the customers may gain distrust in the company's services and thus leads to report declined profitability. And finally, damages its brand reputation.
  - - - Happens when a cyber-security attackers steal computer-based data from a person or business, with the intent of compromising privacy or obtaining confidential data.