Hackers Targeting SMB’s

By:  |  Category: Blog, Security Friday, January 12th, 2018  |  No Comments

Small businesses often think they are immune from cybersecurity attacks but actually the opposite is true–they are more susceptible. With a whopping 60% of small businesses experiencing a cyber attack in the last year, security has never been a higher priority. But sadly, all too often small businesses don’t even know they’ve been compromised, according to a study by Nationwide.

The well known insurance company looked at  1,069 businesses with fewer than 299 employees for their research. Originally, only 13 percent of the participating companies claimed to have been the victim of a cyberattack, yet after they were presented with a list of cyberattack types — varying from phishing scams to Trojan horses to ransomware — that figure rose to 58 percent.

“Cyberattacks are one of the greatest threats to the modern company,” said Mark Berven, Nationwide’s president of property and casualty. “Business owners are telling us that cybercriminals aren’t just attacking large companies on Wall Street.”

With fewer resources at hand, the companies that are attacked are easier to crack for a hacker due to less cyber defense systems and less money to focus on security. When they are breached, their name recognition is lower and doesn’t attract headlines in the media.

According to the research, the most common attacks are computer viruses (36%), phishing attacks (29%), and last, Trojan Horses (13%).

One of the biggest issues with small businesses is a lack of preparedness–they don’t have a dedicated staff member or IT provider monitoring their network security (57%). Another 76% had no plan or remediation protocol to deal with attacks. Fifty-seven percent had no security protecting employee data and 54% had unsecure corporate data.

Trying to recover from a cyber attack was costly and time intensive.  At least 20% of those attacked spent $50,000 with a six month recovery and 7% spent $100,000 with a full year of recovery

percent of cyberattack victims spent US$50,000 and took more than six months to recover, while 7 percent spent more than $100,000 and took more than a year to recovery.

Karen Johnson, a technical consultant with Nationwide noted that attackers generally steal credit card information from companies with customers who make purchases from them. They also steal personally identifiable information — such as addresses, names and Social Security numbers — that hackers can use to apply for new credit cards or loans, she told the E-Commerce Times.

Small businesses need to make sure their systems have proper antivirus and firewall protections, and make sure their systems are password-protected and properly patched and updated with the latest versions of antivirus and operating system software, Johnston said.

Companies also need to have up-to-date backups of their critical systems and customer data, and consider having cloud backups of this information, she suggested.

Clearly, cybersecurity attacks are a problem for all businesses, whatever size they may be. If your business needs help with a comprehensive network security plan, give EnhancedTECH a call at 714-970-9330 for a complimentary consultation or contact us at [email protected]

Samantha Keller

Director of Marketing and PR at EnhancedTECH
Samantha Keller (AKA Sam) is a published author, tech-blogger, event-planner and mother of three fabulous humans. Samantha has worked in the IT field for the last fifteen years, intertwining a freelance writing career along with technology sales, events and marketing. She began working for EnhancedTECH ten years ago after earning her Bachelor’s degree from UCLA and attending Fuller Seminary. She is a lover of kickboxing, extra-strong coffee, and Wolfpack football.Her regular blog columns feature upcoming tech trends, cybersecurity tips, and practical solutions geared towards enhancing your business through technology.
Samantha Keller

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