William M. answered 17h
Retired Cybersecurity Executive with 35 yrs of experience
Cybersecurity is essential for protecting sensitive personal, financial, and business information from theft, fraud, and unauthorized access.
It helps ensure safe financial transactions (whether personal bank and investment information or corporate financial exchanges), business continuity, regulatory compliance, and the protection of intellectual property while preventing threats like ransomware and identity theft - which malware actors are wishing to target and exploit for either financial gain or ideological reasons (among other reasons).
Strong cybersecurity also preserves customer trust, supports national security, and adapts to constantly evolving cyber threats. It is always a game of "one-uppance" by both cyber-hackers and cyber-defenders and it pays for corporate and government entities to stay well ahead of the game by defending information assets and the IT systems which house and maintain these information assets.
The most important factor in all of this is training individuals as well as employees in corporate and government settings to spot cyber exploits. Humans are the "weak link" who are most easily duped in cyber attacks and exploits.