Emerging Cyber Security and Data Privacy Threats: Challenges and Opportunities: An Analytical Overview

ABSTRACT: In the digitally emerging world where everyone has the access to internet it is very crucial to secure our data because of right to privacy. Cyber security deals with all the laws designed for the cybercrimes. Digitalization and networking provide number of benefits to us in different fields like e-commerce, banking, education, communication but due to cybercrime, a new criminal methodology also arises. Systems, important files, data, and other important virtual things are at risk if there is no security to protect it. The need of the hour is to make people aware of the laws that already have been made and to amend the laws according to the development of technology. The objective of this paper is to spread awareness about the laws and the precautions which we can take to secure our precious data and belongings. With the advent of various types of technology and availability of such technology at lesser cost, every human being around the world has fallen trap to use technology in day-to-day life. From ordering food online to shopping clothes, books and other necessary items to booking tickets, appointments with doctors etc., to digital payments, every aspect of one’s life has become dependent on technology. To put it in simple words, life has become dependent on two essential things – (i) smart phone; and (ii) internet access. However, it is important to note that the success of such technology is inter-alia dependent on the availability of data/information that it collects and/or collected for it. Thereby, data has definitely become the ‘new oil’ since availability of data, processing it and utilizing it in formulating a perfect algorithm for technology has become very expensive for companies providing digital services. Cyber security is a set of strategies, techniques, and controls to reduce risk and ensure that your data assets are protected. If data privacy is about control, then cyber security has the means to add, some, but not all, of the aspects of that control. Cyber security is at the heart of the discipline of data protection.