This timeline records significant cyber incidents since 2006. We focus on cyber attacks on government agencies, defense and high tech companies, or economic crimes with losses of more than a million dollars. Below is a summary of incidents from over the last year. For the full list, click the download [...]
Why Small Businesses Don’t Care About Cyber Security
With millions of small businesses out there, why don’t they care about cyber security? You may be reading this and own a small business or know someone that does.
Think to yourself: why would small businesses not care about cyber security? You may find that it is not a problem of caring but a problem of understanding. Let’s take a look at some of the different reasons why small businesses don’t care about cyber security.
A recent report shows that nearly 60 percent of small businesses will close within six months after experiencing a cyber attack. Why is this number so high? Well, like all small businesses, cash flow is limited, resources are tight, and everyone is wearing a lot of hats to cover different business responsibilities.
Do you think a small business has a cyber security team on hand just waiting to respond to an attack? You may want to think again.
It is not a matter of if you will get hacked, but a matter of when.
Hands down, security awareness training is one of the most effective ways to prevent a cyber attack against your small business. The majority of threats arrive at your employee’s inbox through phishing scams and other social engineering attacks.
Training your employees how to defend against phishing, ransomware, removable media and malicious websites is a necessary component in a business’s digital security strategy. Even covering how to create secure passwords is necessary to keep your business protected from hackers and defend against the evolving threat your employees face today.
Along with keeping strong passwords, employees tend to forget them. Not only do they forget them, they also write them down and tell each other about them. Even worse, they skip that all together and end up using baseball17 or something similar as their password for everything.
Most small businesses don’t feel that they can fall victim to an attack. Something important to teach your employees is that if they use a personal password for work and their personal account gets hacked, the hacker can use that password to attempt to access their work accounts. Using a password manager can help protect those online accounts and keep your business safe.
Similar to when we discussed that losing inventory will make a major impact for small businesses, we need to identify the other risks that affect our organization. Things such as: what happens if a disaster strikes? Does your organization have a backup if the building caught on fire? Has anyone ever thought of computer equipment getting stolen? What if your computers get hit with ransomware and they demand payment of $100,000? Should your company pay it?
All of these scenarios are experiences that are not fun to deal with but can realistically happen to a small business. Your organization should be aware of the different risks it faces and how to prevent those risks.
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