Many people mistakenly believe that small to mid-sized businesses are less likely to be targeted by cyber criminals. While larger organizations certainly bear the brunt of online attacks, the fact is no business is safe from a potential breach. In fact, nearly half (43 percent) of all cyber-attacks actually target small businesses and 60 percent will go out of business within six months. The best way to defend against these attacks is to prepare for them in advance. Here are the top four cybersecurity threats SMBs face and how to secure against them.
Insider Risk – Believe it or not, the biggest security risk most organizations face is not some unknown hacker, but rather the people who work within the company itself. And in most cases, there is no malice involved, just a lack of clear understanding and knowledge of what to look for. Educating employees on the basics of cybersecurity is critical to thwarting things like phishing and other social engineering scams.
Ransomware – You can’t go anywhere online today without seeing a headline about ransomware. This type of malware essentially infects a user’s computer and locks all data unless and until the victim agrees to pay a ransom fee. Again, educating employees on what types of things might be suspicious and also having automated cybersecurity incident response technology in place that can quickly identify, isolate and eradicate the virus before it has a chance to spread are the keys to proper prevention.
DDoS Attacks – Distributed Denial of Service (DDoS) attacks ambush businesses by sending massive amounts of traffic to their websites, slowing them to a crawl and in many cases forcing critical services offline. For companies that rely on their websites or other online services to manage day to day operations, such an outage can cost tens of thousands of dollars in revenue. DDoS attacks can’t be entirely prevented, but having a strategy in place that includes a documented response plan can help mitigate damages.
BYOD – Today’s connected technology has opened many doors of opportunity for businesses to allow employees to bring their own devices (BYOD) and use them in the workplace. Of course, allowing network access with unsecured devices also comes with an added risk of data theft. The solution lies in the development and implementation of a comprehensive BYOD policy which includes educating employees on device expectations and allows businesses to carefully monitor information sharing.
These are just four of the many different vulnerabilities small to midsized businesses face when it comes to cybersecurity. Thankfully, keeping data protected, defending against incoming attacks and recovering quickly following a successful breach is entirely possible. And it doesn’t necessarily have to cost an arm and a leg, either. Check out these five ways to boost your company’s cybersecurity without breaking the bank and download your free trial of Ayehu automated incident response platform today.