Question

Comparing Cryptojacking, IOT device threats and Mobile malware, which threat represents the greatest risk to business continuity and assurance?

Answer 1

Cryptojacking can be defined as the process of using your computer or network device secretly to steal or mine the cyrptocurrency in your data. In the victim's computer system, unknowingly a software or a program is being installed that would secrestly steal the cryptocurrency making the business totally fail in its operations.

IoT devices are the Internet of Things. These refers to all the things or resources present for the business in the form of electronic data stored in the system. These exists two two of IoT threats which are either natural or human threats. Any threat which occurs due to natural calamity like fire or earthquake and cause loss of data is the natural threat. On the other hand, human threat refers to the stealing of any important resources present in these computers via using malacious programs and softwares or either by hacking or cracking. Backups are being stored to safeguard the data but the loss the device would face couldn't be recovered.

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Mobile malware refers to the unethical software that targets mainly the personal digital assistants or the mobile phones by causing a whole degradation in the system and loss or leak of confedential information due to presence of virus sent through mail or any other media.

All these three types of threats are a hinderance for the business to continue its operations. Although, talking about the worst threat among these three would constitute the threat to IoT devices as there are not only limited to the human threat by malacious software or people hacking the software without the authorisation and stealing the data but also by the natural calamity which nobody could ever control. As in today's time every business in highly dependent on the data and the information stored in th systems. Any loss of such data would cause the company a loss of millions and the hinderance in the growth and sustainability prospects. Thus, to ensure to safeguard the data, a whole data protection system is to be required, backup is to be created and other security issues are to be undertaken to make corrective actions.