A cyber-attack is any kind of malicious actions that targets infrastructure, personal devices, computer networks and computer systems. An attacker may destroy, steal or alter information through hacking into a system (Lin & Tom, 2016). Cyber-attacks mainly revolve around data. An organization may steal data for example, strategies, reports and researches.
When attacks are made on a database, data is also either destroyed or changed. Most of the data is not recoverable. Data loss from an organization such as a one offering hail raiding services means negative repercussions. If accounting table was destroyed the company would not know who owned them money. They can make payments to their bank accounts leading to losses. Information losses may bring a company to a competitive edge or complete downfall (AS, 2018).
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"Ramification of Cyber-Attacks on Databases".
Reputational Damage is another effect of cyber attacks on databases. The attack on the company exposed sensitive data to the attackers. This brings about trust issues by the stakeholders and customers. There is fear in getting involved with a company that does not protect its customer data. Some customers, investors and stakeholders may also withdraw from using the company’s services. Bad reputation destroys great chances of attracting new customers, stakeholders and investors. This directly translates to losses in terms of business and brand devaluation. A company requires time to get back to its normal state (AS, 2018).
Cyber-attacks lead to financial losses. A company requires a large amount of money to secure its breached database. Specialists must be employed to recover the loss. In this case, the company is forced to hire security engineers and update their security protocols. Direct fines are imposed on a company that does not comply with data protection policies. The company might undergo financial losses if the attacker transfers money to their accounts. Company operations may be stopped for a while to bring the company back to its previous states. This causes direct financial losses (Amoroso, 2012).
- Amoroso, E. G. (2012). Cyber attacks: protecting national infrastructure. Elsevier.
- AS, S. (2018). SungardAS : Cyber security: take it seriously. Retrieved from https://www.sungardas.com/en/cyber-security-advice/articles/the-consequences-of-a-cyber-security-breach.html
- Lin, Tom C. W., Financial Weapons of War (2016). Minnesota Law Review, Vol. 100, p. 1377, 2016; Temple University Legal Studies Research Paper No. 2016-25. Available at SSRN: https://ssrn.com/abstract=2765010
