Hackers Love Attacking SMBs - Network Security for Business

Operating a small to midsized business is a challenge at any time. But, amidst an era of unprecedented levels of cybercrime, SMBs, also known as SMEs (Small to Midsized Enterprises), often do not pay enough attention to SME cyber security. Whether hindered by a lack of IT knowledge or budget, the business owners underestimate their cyber vulnerability and expose their companies and their connected business partners to significant cyber threats. In the meantime, hackers find new ways to capitalize on this expanding target landscape. Coincidentally, more than half of all cyberattacks are on SMEs, yet more than 60% of SME owners think they are unlikely to be the target of a cybercrime. They have naively lulled themselves into a false sense of security.

There are Many Reasons Why Cybercriminals Attack SMEs:

• They are Easier Targets Because They Lack IT Support – Because SMEs don’t always devote the time, attention and budget required for proper layers of cyber security, hackers know that breaching their data will be much easier than that of large corporations with dedicated IT departments.
• Lax SME Cyber Security Can Offer Access to Larger Companies – SMEs often do business with much larger corporations. They are digitally connected for file-sharing, online transactions, supply chain management, etc. The inadequate security on the part of the SMEs might afford hackers access to larger companies’ data through those business functions.
  • For example, for the infamous Target store breach, the hacker got into the store’s large network through the network of a small, third-party HVAC contractor who supplied refrigeration and HVAC services to the store. The breach resulted in 40 million stolen credit and debit cards.
• Vulnerability to Ransomware Attacks – Small to midsized enterprises are more vulnerable to ransomware because of less-than-perfect cyber security and inconsistent or nonexistent security protocols. Educating employees to follow a standardized list of cyber best practices when handling email and other network activities is critical for defending against ransomware attacks. In addition, users must understand the importance of thinking before clicking and deleting suspicious emails and attachments without opening them.
• SMEs Collect Data Valuable for Sale – Social Security numbers, credit card information, medical records, bank documents and other private information are worth money to hackers who sell such data on the Dark Web.
• Your Computer and Networked Devices (IoT) Can Be Used for DDoS Attacks – For DDoS (Distributed Denial of Service) attacks, the hackers connect an “army” of computer bots to send repeated and multitudinous requests to the attacked website, thereby overloading the website, causing it to malfunction or crash and go offline.
• Inadequate Cyber Security in Place for Remote Access Work – When the pandemic hit, companies scrambled to set up a work-from-home, remote access workforce. Many SMEs did not understand the importance of increased cyber security to cover the many new IoT access points created by devices used for remote work. The expanded remote work environment afforded hackers a vast array of new access options.

Also, businesses have less legal protection from online bank fraud than consumers. Consumers usually have 30-60 days to dispute fraudulent bank transactions, and in most instances, the charges are reversed by the bank. But companies that are victims of online bank fraud often lose money from unauthorized transactions that aren't caught immediately and reported to the bank. Moreover, for businesses, there is no legal guarantee that any fraudulent transactions will be reversed.

For smaller businesses, the costs related to a severe data breach go beyond the loss of revenue. Once attacked, the companies might have to spend a lot more money hiring IT professionals to analyze the breach and discover the source and consequences of the attack and the cost of repairing the damage and securing the network against future attacks. The ultimate costs to a small to midsized business can be devastating and might even lead to bankruptcy.

Small to midsized businesses cannot afford to ignore cyber security. It is essential for safely doing business and protecting hard-earned business data. As the growing tech world and our use of online technology now encompass so many areas of our personal and business lives, cybercriminals continue to stay in step and find new ways to attack private and business data. Smaller businesses have neither the time nor the budget for a full-time IT department. Therefore, it is essential to employ IT experts to provide IT consulting and risk analysis to assess your cyber vulnerability and help you design the best layers of protection for your hard-earned business data.

DIGIGUARD Cyber Security Knows How to Protect SMEs from Cyberattacks

DIGIGUARD, a small business IT company specializing in preventing cyber threats of all kinds, has a wide array of solutions to protect against cybercrimes and ensure you have the best possible protection. It works with small and midsized businesses to establish cyber security best practices to ensure your confidential data is secure and all your devices have the specific protections they require, especially those used for remote-access work. For any business, cyberattacks can have devastating consequences. DIGIGUARD can assess your cyber risks and work with you to design the best protection solutions for your business.

Call DIGIGUARD CYBER SECURITY at 833-33-CYBER (833-332-9237) and visit www.DIGIGUARDsecurity.com to discuss how you can increase your company’s level of cyber security and avoid a deadly cyberattack.