Stay Secure My Friend… More Hackers Targeting SMBs

Stay Secure My Friend… More Hackers Targeting SMBs

Many SMBs don’t realize it, but the path to some grand cybercrime score of a lifetime may go right through their backdoor.  SMBs are commonly vendors, suppliers, or service providers who work with much larger enterprises. Unfortunately, they may be unaware that this makes them a prime target for hackers. Worse yet, this may be costing them new business.

Larger companies likely have their security game in check, making it difficult for hackers to crack their data. They have both the financial resources and staffing power to stay on top of security practices. But smaller firms continue to lag when it comes to security. In many cases, the gateway to accessing a large company’s info and data is through the smaller company working with them. Exposed vulnerabilities in security can lead cybercriminals right to the larger corporation they’ve been after.

Cybercriminals Target Companies with 250 or Fewer Employees

Research is continuing to show that cybercriminals are increasingly targeting smaller businesses with 250 or fewer employees. Attacks aimed at this demographic practically doubled from the previous year. This news has made larger enterprises particularly careful about whom they do business with. This means that any SMB targeting high-end B2B clientele, or those seeking partnerships with large public or government entities, must be prepared to accurately answer questions pertaining to security. This requires an honest assessment of the processes taken to limit security risks.

View Security Measures as Investments

CEOs must start viewing any extra investment to enhance security as a competitive differentiator in attracting new business. Adopting the kind of security measures that large enterprises seek from third-party partners they agree to work with will inevitably pay off. The payoff will come by way of new revenue-generating business contracts that will likely surpass whatever was spent to improve security.

Would-be business partners have likely already asked for specifics about protecting the integrity of their data.  Some larger entities require that SMBs complete a questionnaire addressing their security concerns. This kind of documentation can be legally binding so it’s important that answers aren’t fudged just to land new business. If you can’t answer “yes” to any question about security, find out what it takes to address that particular security concern.

Where a Managed Service Provider Comes In

Anyone who isn’t yet working with a Managed Service Provider (MSP) should consider it. First, a manual network and security assessment offers a third-party perspective that will uncover any potential business-killing security risks. A good MSP will produce a branded risk report to help you gain the confidence of prospects to win new business.

A MSP can properly manage key elements of a small company’s security plan. This includes administrative controls like documentation, security awareness training, and audits as well as technical controls like antivirus software, firewalls, patches, and intrusion prevention. Good management alone can eliminate most security vulnerabilities and improve security.

“That will never happen to me. It’s a risk I’m willing to take.”

Small- and medium-sized businesses (SMBs) are the prime target for attackers because they tend to be easier targets. They’re often less secure and unprepared for attack. Think about burglars that go after houses where they know no one is home. With more cybercrime automation and the rise of hacking kits, the cost and time it takes to launch a successful attack have decreased, increasing the amount of cyber-attacks executed.

You, like many SMBs, may not think you are a target.

82 percent of SMBs say they’re not targets for attacks as they don’t have anything worth stealing (Towergate Insurance). 

However, 55 percent of SMB respondents have experienced a cyber-attack in the past year, and another 50 percent have experienced a data breach involving customer and employee information (2016 State of SMB Cybersecurity).

You may underestimate the value of your information.

It doesn’t always seem like it, but every business has data worth stealing. Did you know that the average cost per lost or stolen record is $158? It may not seem like a lot, but this number grows quickly once these records are stolen by the hundreds (Cost of Data Breach Study).

This means you might not be prepared to defend yourself.

Did you know that 79 percent of small businesses do not have an incident response plan? Without one, you may never be able to fully recover when a security incident becomes a reality (Nationwide Cyber Security Survey).

 However, the consequences are significant and often business-crippling.

An IBM and Poneman Institute study found that the average cost of a data breach has increased to a staggering $3.79 million (Cost of Data Breach Study).

 Similarly, 60 percent of companies that lose their data due to an attack or disaster will shut down within six months (Boston Computing Network).

Work with an MSP to receive the data protection you need.

Invest in an outsourced cybersecurity solution to protect against the expanding cyber threat landscape, and mitigate damages inflicted upon your business. Gain the expertise, technology and support you may be lacking, and grow your IT budget without growing your payroll.

Work with us today!

Tech Quick Tips 5 Ways to Stay Secure Online

1. Hook up to a network that you know.

Free Wi-Fi is tempting, but be sure that you consider who is providing the connection. Public connections at the local coffee shop are usually unsecured and leave your machine open to outsiders. While these networks provide a convenience, there are risks to be aware of.

2. Bank and shop with caution.

Shopping from familiar websites is a good place to start. Stick with the reputable sites that are tried and true – like Amazon or eBay. Also, when checking out and finalizing the purchase, look for the ‘padlock’ symbol or the abbreviation ‘https’ in the address bar at the top of your browser. This will ensure that you are on a secure, encrypted part of this webpage. Keeping an eye on your bank statements for suspicious activity is always a good idea, among these other best practices for shopping online.

3. Use secure passwords.
Passwords for logging into any website should contain a mix of letters, numbers, and special characters – as well as be different for each website that you log into. It can definitely be a pain to remember all of these passwords, but ask yourself which is more of a pain – remembering these, or recovering stolen personal information.

4. Lock Your Computer.
When you walk away from your machine, lock it. In Windows, it is as easy as pressing the Windows key + L. On an Apple Mac, pressing “Control+Shift+Eject” will do the trick (unless you do not have an optical drive, then you can hit the “Power” key instead of “Eject”). This practice would be the equivalent to deadbolting the front door of your home. It acts as a deterrent to the bad guys as well as a line of defense. It may even be worth setting up a password lock on your Apple or Windows machine as well.

5. Do not click on anything unfamiliar.
If an offer is too good to be true, it probably is. If you get an email from an unknown source, do not click any of the links within it – and immediately report it to your IT department. If a window pops up while browsing a website, immediately close it. Familiarity is always your friend. Using your judgment and trusting your gut is the ultimate defense when online. Always play it safe!

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