It’s easy to understand why large corporations are targets of cyber crimes—they often have vast amounts of valuable data and assets that represent a gold mine for criminals. As seen with the Equifax breach in 2017 which exposed millions of customers’ personal information due to a software vulnerability, no company is immune from becoming a victim of cyber crime if proper prevention measures are not taken.
When it comes to small business owners, however, many falsely believe they aren’t a target for cyber crime. It’s easy to think that smaller businesses are too insignificant or don’t have enough data for hackers to be interested in. Unfortunately, this could not be further from the truth; cyber criminals often target small and medium-sized businesses because of their lack of security measures and resources dedicated towards defending against attacks.
Reasons Smaller Businesses Are Vulnerable to Cyber Crime
Lack of Resources
Small businesses are particularly vulnerable because they often do not have the resources to invest in sophisticated cybersecurity measures that larger companies can afford. This lack of investment leaves smaller organizations more exposed and open to attack; cyber criminals know this, and view them as easier targets than better-protected large corporations. Furthermore, hackers understand that small business owners may not be aware of the dangers posed by cyber crime or how to protect against it. As such, they will take advantage of these unawareness gaps and use them to their own benefit.
Heavy Reliance on Technology
Additionally, many small businesses rely heavily on technology for their day-to-day operations, leaving them even more susceptible to threats from cyber criminals. For example, if a company’s customer database is stored online without proper security protocols in place (such as encryption), then any data stored within it could easily be stolen by malicious actors with relatively little effort. Similarly, an unprotected network connection could provide easy access into the business’s systems—allowing attackers to steal valuable information or disrupt its operations entirely by disabling certain services or applications used by the organization.
The bottom line is that small businesses need protection just like larger ones do; failure to properly secure their networks and data can lead to disastrous consequences for both customers and employees alike.
How Small Businesses Can Protect Themselves
Comprehensive Security Solutions & Training
Cyber criminals employ different tactics such as phishing scams, ransomware attacks and malware infections when targeting both small and large companies alike. In order to protect themselves against these threats, businesses need to invest time into implementing comprehensive security solutions such as antivirus protection software, firewalls systems and secure passwords policies across all devices used within the organization. Additionally regular training should be conducted for employees on how identify suspicious emails or dangerous links that may lead them into mistakenly exposing sensitive corporate information .
Cyber Insurance & Backups
In addition to the measures mentioned above, businesses should also consider investing in cyber insurance. Cyber insurance is a type of policy that provides financial coverage for damages caused by a data breach or other types of malicious attacks. This type of insurance can help cover costs associated with restoring stolen data, alerting customers about any stolen information and hiring an IT firm to investigate the incident. Moreover, having an up-to date backup system in place is critical as it allows companies to quickly restore lost files if their systems become compromised and minimize downtime due to potential outages resulting from hacking attempts.
Bottom Line
By understanding why both small businesses as well as larger organizations can fall prey to malicious activities committed by hackers , it will allow companies take proactive steps towards mitigating any risks associated with cybersecurity threats. While some investments may be required upfront, having an effective plan in place can help prevent potential financial losses caused by an attack. That’s where an experienced cybersecurity provider like tekRESCUE comes in—contact us to ensure your business is better secured against any malicious intent.
