{"id":179,"date":"2020-02-28T23:34:32","date_gmt":"2020-02-28T23:34:32","guid":{"rendered":"https:\/\/dev.myschoolconnect.com.au\/blog\/?p=179"},"modified":"2021-08-19T01:12:44","modified_gmt":"2021-08-18T15:12:44","slug":"the-importance-of-online-security-in-the-21st-century","status":"publish","type":"post","link":"https:\/\/myschoolconnect.com.au\/blog\/the-importance-of-online-security-in-the-21st-century\/","title":{"rendered":"The Importance of Online Security in the 21st Century"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large is-style-default\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/dev.myschoolconnect.com.au\/blog\/wp-content\/uploads\/2021\/05\/smallerqty-1024x683.jpg\" alt=\"\" class=\"wp-image-180\" srcset=\"https:\/\/myschoolconnect.com.au\/blog\/wp-content\/uploads\/2021\/05\/smallerqty-1024x683.jpg 1024w, https:\/\/myschoolconnect.com.au\/blog\/wp-content\/uploads\/2021\/05\/smallerqty-300x200.jpg 300w, https:\/\/myschoolconnect.com.au\/blog\/wp-content\/uploads\/2021\/05\/smallerqty-768x512.jpg 768w, https:\/\/myschoolconnect.com.au\/blog\/wp-content\/uploads\/2021\/05\/smallerqty-1536x1025.jpg 1536w, https:\/\/myschoolconnect.com.au\/blog\/wp-content\/uploads\/2021\/05\/smallerqty.jpg 1878w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">We live in an era where security is a constant threat. Whilst the online world has revolutionised the way we do business and the way we live our lives, it has also brought about many challenges that have impacted so many people, so greatly.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The most common internet security issues faced in the 21st century are from hackers, viruses, spyware, worms, data breaches, spamming and identity theft. The worst part &#8211; there is a hacking attempt launched every 39 seconds and more than 50% are aimed at small businesses<sup>1<\/sup>. Whilst this article highlights the implications on large corporations, that in no way removes small businesses from the same threat. All online companies are at risk, the critical factor is how they mitigate that risk.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Here are some key examples of large corporates significantly impacted by security breaches and the subsequent cost implications on their business<sup>2<\/sup>:<\/p>\n\n\n\n<ol class=\"wp-block-list\"><li><strong>Yahoo<\/strong><\/li><\/ol>\n\n\n\n<p class=\"wp-block-paragraph\">Date: 2013 &#8211; 2014<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Impact: 3 billion users<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Cost implication: $350 million<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Reason: hacking&nbsp;<\/p>\n\n\n\n<ol class=\"wp-block-list\"><li><strong>Uber<\/strong><\/li><\/ol>\n\n\n\n<p class=\"wp-block-paragraph\">Date: late 2016<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Impact: 57 million users &amp; 600,000 drivers<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Cost implication: $20 million<\/p>\n\n\n\n<ol class=\"wp-block-list\"><li><strong>Home Depot<\/strong><\/li><\/ol>\n\n\n\n<p class=\"wp-block-paragraph\">Date: September 2014<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Impact: 56 million customers<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Cost implication: $161 million<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It can take many years to recover from such a significant security breach, not only in terms of financial loss, but in terms of impact on brand awareness, brand value and reputation. How do you gain the trust of your customers again? Or instill faith that this was a once-off occurrence?<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As an online platform servicing thousands of&nbsp;<a href=\"https:\/\/myschoolconnect.com.au\/tuckshop\/information-for-parents\">parents<\/a>&nbsp;from&nbsp;<a href=\"https:\/\/myschoolconnect.com.au\/tuckshop\/info-for-schools\">schools<\/a>&nbsp;Australia-wide,&nbsp;<a href=\"https:\/\/myschoolconnect.com.au\/\">My School Connect<\/a>&nbsp;is continuously developing its security infrastructure, ensuring that the system remains protected and safe for all users, at all times. We understand that security is something that all of our users want peace of mind on, and we can ensure you that it\u2019s one of our number one priorities as we grow. This is an ever evolving process and something our dedicated technical team is committed to for the long-haul!<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><sup>1<\/sup>&nbsp;<a href=\"https:\/\/www.securitymagazine.com\/articles\/87787-hackers-attack-every-39-seconds\">https:\/\/www.securitymagazine.com\/articles\/87787-hackers-attack-every-39-seconds<\/a><sup>2<\/sup><a href=\"https:\/\/www.csoonline.com\/article\/2130877\/the-biggest-data-breaches-of-the-21st-century.html\">https:\/\/www.csoonline.com\/article\/2130877\/the-biggest-data-breaches-of-the-21st-century.html<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>We live in an era where security is a constant threat. Whilst the online world has revolutionised the way we do business and the way we live our lives, it has also brought about many challenges that have impacted so many people, so greatly.&nbsp; The most common internet security issues faced in the 21st century are from hackers, viruses, spyware, worms, data breaches, spamming and identity theft. The worst part &#8211; there is a hacking attempt launched every 39 seconds and more than 50% are aimed at small businesses1. Whilst this article highlights the implications on large corporations, that in no way removes small businesses from the same threat. All online companies are at risk, the critical factor is how they mitigate that risk.&nbsp; Here are some key examples of large corporates significantly impacted by security breaches and the subsequent cost implications on their business2: Yahoo Date: 2013 &#8211; 2014 Impact: 3 billion users Cost implication: $350 million Reason: hacking&nbsp; Uber Date: late 2016 Impact: 57 million users &amp; 600,000 drivers Cost implication: $20 million Home Depot Date: September 2014 Impact: 56 million customers Cost implication: $161 million It can take many years to recover from such a significant security breach, not only in terms of financial loss, but in terms of impact on brand awareness, brand value and reputation. How do you gain the trust of your customers again? Or instill faith that this was a once-off occurrence? As an online platform servicing thousands of&nbsp;parents&nbsp;from&nbsp;schools&nbsp;Australia-wide,&nbsp;My School Connect&nbsp;is continuously developing [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":180,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-179","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Importance of Online Security in the 21st Century - MSC Blog<\/title>\n<meta name=\"description\" content=\"Online presence is here to stay but what about security? 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