The security firm, FireEye has a very eye opening report titled “Big Threats for Small Businesses: Five Reasons Your Small or Midsize Business is a Prime Target for Cybercriminals”
The report addresses one of many misconceptions about cyber-attacks: “I’m not big enough for hackers to care, so I don’t need security measures.”
The ‘I’m too small to be a target’ argument doesn’t stand up, says the Verizon report. We see victims of espionage campaigns ranging from large multinationals all the way down to those that have no staff at all.
The Ponemon Institute says that small and midsize businesses are facing the same cyber threats as large enterprises, but have a fraction of their budget to combat them. In November 2013, more than 40 percent didn’t allocate enough IT security funds for themselves according to this study.
The statistics say that small and midsize businesses are more likely to be victims of cyberattacks than large enterprises.
The defenses most SMBs have in place today are ill equipped to combat the advanced attacks of modern times. Firewalls, next-generation firewalls, intrusion prevention systems (IPS), AV software and gateways remain important security measures but they’re woefully ineffective at stopping targeted attacks that haven’t yet been detected by traditional cyber defense methods.
Data breaches are a serious threat for every small business, as they put businesses out of operation in seconds without warning or recourse.
A staggering 60%of small businesses end up shutting their doors permanently following an attack (data breach).
The National Cyber Security Alliance has found that 60 percent of small firms go out of business within six months following a data breach. With the growing sophistication and frequency in cyber attacks, more often than not these target SMBs (small-medium businesses). One unlucky click – such as opening an email attachment with malware or clicking on a link to what looks like it is for your company’s website but actually isn’t – could be enough to result in costly breaches which drain bank accounts and trust from customers.
It’s always good to be prepared for the worst. Fireeye has some great advice that can help you lower your risk of being a victim.
Accept you’re a target
Cyber attacks against small businesses rose 31 percent in 2013 versus the year before, making them the fastest-growing group of targets. By assuming that you are a target for cyber attackers and paying vigilant attention to your computer’s safety measures, you can better prepare yourself against an attack which is inevitable according to recent statistics.
Recognize your most relevant assets and links
Protecting your systems starts with identifying what is valuable to you and how it could be vulnerable. In the same way, hiring bodyguards won’t work if they are not told whom they’re supposed to protect! Identify potentially valuable data and spot where there may be weaknesses in your security system by first looking at potential vulnerabilities.
A security platform that blocks today’s modern attacks is needed to stop the data breaches
Wide gaps in offensive abilities and outdated defenses have left organizations more vulnerable than ever. Attacks today exploit previously unknown, zero-day vulnerabilities that easily bypass signature-based or reputation based defenses and sandboxes touted by legacy vendors as their fresh approach to security is constrained by many of the same flaws as traditional products. SMBs need a radically different approach, one that can detect known threats while also blocking new ones with real time coordination for greater efficiency and effectiveness against all types of attacks.
It’s time for small to midsize businesses to wake up and smell the coffee. Cyber criminals are targeting you, which makes your company more vulnerable than larger companies. If you’re not taking adequate steps against cybercriminals now it will be too late when they strike! The best way to protect yourself is by performing a security risk assessment that identifies critical data points and takes appropriate measures based on what it finds out about how well or poorly protected sensitive information is currently being held in various systems within an organization.
Let Vector One help you increase your Company’s Cybersecurity. To get started, contact us today!.