SMBs Attacked by Hackers
Do you feel more secure from cyberattacks because you run a smaller business? Or perhaps thought that you could not possibly have anything that a hacker could want? Maybe you did not think they even knew about your SMB.
A new report by cybersecurity firm Barracuda Networks puts an end to this myth. Their report looked at millions of emails across thousands of organizations. It found that smaller companies have a lot to worry about when it comes to their IT security.
Barracuda Networks found something alarming. Employees at small companies saw 350% more social engineering attacks than those at larger ones. It defines a small company as one with less than 100 employees. This puts small businesses at a higher risk of falling victim to a cyberattack. J700 Group tells you more about why below.
So why Are Smaller Companies Targeted More?
There are many reasons why hackers see small businesses as low-hanging fruit as well as why they are becoming larger targets of hackers out to score some quick money.
Small Companies Tend to Spend Less on Cybersecurity
When you’re running a small business, it’s often a juggling act of where to prioritize your cash. You may know cybersecurity is important, but it may not be at the top of your list. So, at the end of the month, cash runs out, and it’s moved to the “next month” wish list of expenditures.
Small business leaders often don’t spend as much as they should on their IT security. They may buy an antivirus program and think that’s enough to cover them. But with the expansion of technology to the cloud, that’s just one small layer. You need several more for adequate security.
Hackers know all this and see small businesses as an easier target. They can do much less work to get a payout than they would trying to hack into an enterprise corporation.
Every Business Has “Hack-Worthy” Resources
Every business, even a 1-person shop, has data that’s worth scoring for a hacker. Credit card numbers, SSNs, tax ID numbers, and email addresses are all valuable. Cybercriminals can sell these on the Dark Web. From there, other criminals use them for identity theft.
Here are some of the data that hackers tend to go after:
- Customer records and details
- Employee records
- Bank account information
- Emails and passwords
- Payment and card details
Small Businesses Can Provide Access to Larger Ones
If a hacker can breach the network of a small business, they can often make a larger score. Many smaller companies provide services to larger companies. This can include digital marketing, website management, accounting, and more.
Vendors are often digitally connected to certain client systems. This type of relationship can enable a multi-company breach. While hackers don’t need that connection to hack you, it is a nice bonus. They can get two companies for the work of one.
Small Business Owners Are Often Unprepared for Ransomware
Ransomware has been one of the fastest-growing cyberattacks of the last decade. So far in 2022, over 71% of surveyed organizations experienced ransomware attacks.
The percentage of victims that pay the ransom to attackers has also been increasing. Now, an average of 63% of companies pay the attacker money in hopes of getting a key to decrypt the ransomware.
Even if a hacker can’t get as much ransom from a small business as they can from a larger organization, it’s worth it. They often can breach more small companies than they can larger ones.
When companies pay the ransom, it feeds the beast and more cyber criminals join in. And those newer to ransomware attacks will often go after smaller, easier-to-breach companies
Employees at Smaller Companies Usually Aren’t Trained sufficiently in Cybersecurity
Another thing is not usually high on the list of priorities for a small business owner. We’re talking about ongoing employee cybersecurity training. They may be doing all they can just to keep good staff. Plus, priorities are often sales and operations.
Training employees on how to spot phishing and password best practices often isn’t done. This leaves networks vulnerable to one of the biggest dangers which is human error.
In most cyberattacks, the hacker needs help from a user. It’s like the vampire needing the unsuspecting victim to invite them inside. Phishing emails are the device used to get that unsuspecting cooperation.
Phishing causes over 80% of data breaches.
A phishing email sitting in an inbox can’t usually do anything. It needs the user to either open a file attachment or click a link that will take them to a malicious site. This then launches the attack.
Teaching employees how to spot these ploys can significantly increase your cybersecurity. Security awareness training is as important as having a strong firewall or antivirus.
Do you need Affordable IT Security Services for Your Small Business?
Reach out today to one of our team at J700 Group Today call us on 0333 7721 700 or schedule a technology consultation and see how we can help your business. We offer affordable options for small companies in Lancashire and Manchester. This includes many ways to keep you protected from cyber security threats.
J700 Group are a Lancashire-based, family-run, professional and responsive, Managed Solutions Provider helping Businesses, to utilise Innovative IT Consultancy Services, Cloud Solutions, Cyber Security, Microsoft 365, Telecoms, Web Design and SEO solutions to propel their organisation to the next level and beyond.
As an experienced IT Support Provider, helping businesses across Lancashire & Manchester, if you need any assistance with your IT including IT Hardware, a Disaster Recovery Policy or Managed Backup Solutions; please get in touch with one of our team
Where to find us: Prinny Mill Business Centre, 68 Blackburn Road, Haslingden, Lancashire, BB4 5HL
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