Small businesses are a target for cyberattacks

I am often asked, “My business is a small one, why should I be concerned about a cyber attack? What’s in it for the attacker?”

Cybercrime is big business, earning its perpetrators trillions of dollars a year. Companies like Facebook, Apple, Amazon, and others have all fallen victim in recent years. Yes, these cases are all about large enterprises being attacked but the hackers want your data, too, and they can get it easily if you are not careful. In fact, because most small businesses don’t think they are targets is the very reason they are so vulnerable.

Here are some chilling facts about cybercrime:

• 81% of businesses surveyed in 2020 were affected by a successful cyberattack.
• A Forbes Insight report found that 46% of organizations had suffered damage to their reputations and brand value as a result of a data breach.
• Almost 200 million ransomware attacks occurred in the first nine months of 2020 representing a large increase over the previous year.
• 93.6% of malware observed was polymorphic, meaning it can constantly change its code to evade detection.
• 63% of network intrusions are the result of compromised user passwords and usernames. Up to 73% of users reuse passwords across their online accounts, which inherently leads to a higher risk of password theft and credential misuse.
• 30% of phishing emails in the U.S. are opened. 38% percent of malicious email attachments were Microsoft Office formats such as Word, PowerPoint, and Excel.

The conclusion? Don’t wait for your turn to have your reputation spoiled, your business ruined, and having to face fines and other penalties—sometimes even prison. The big companies can survive; there are only so many of them. But, you have lots of competition ready to take your place. Take action! Find a local expert in protecting businesses like yours from the big business of cybercrime.