Small to Medium Businesses are Major Targets For Cyberattacks: Are You Next?

Attacks on SMBs increased in 2019. Here's how to stay protected.

Many companies don't have the tools to keep their data safe. Understanding and implementing cybersecurity methods could save your SMB from a major data breach.

While cyberattacks on large corporations make the headlines each year, the risks and challenges faced by SMBs go largely unpublicized. According to a 2019 report from the Ponemon Institute, cyberattacks are not only on the rise, but they have also threatened at least 76% of small to medium-sized businesses in the past year.

Previous studies indicate that in 2018, 67% of respondents experienced some type of cyberattack, while 58% experienced a data breach. The jump from 67% to 76% is both alarming and revealing.

According to The Orange Crew, an IT Company in Orange County, small to medium businesses face increased cybersecurity issues, what is really at risk and how can it be avoided?

Common Types of Cyberattacks

Cybercriminals are always looking for new methods and techniques for breaching business security and disrupting data. Despite the continually advancing methods over the years, there are still several types of cyberattacks that are most commonly experienced in small to medium businesses.

1. Phishing emails and texts: Phishing uses fraudulent communication that looks like it is sent from a reputable or trusted source. Usually sent in the form of an email, phishing schemes attempt to either collect personal information from the recipient or convinces the recipient to click on a link or attachment that contains malware.
2. Malware: Malicious software can come in a variety of formats, including ransomware and viruses. With ransomware, a very common method of attack against SMBs, the software blocks access to essential data and demands a ransom be paid in order to unlock that data. Ponemon's 2018 report indicated that in most cases, companies end up paying the ransom—an average of $1,466—but the data is not always recovered. The cost of ransomware attacks goes beyond the ransom, however, as companies also deal with lost revenue and network downtime.
3. Man-in-the-middle attack: Most often occurring when an employee is using their device on public WiFi, this type of attack allows the cybercriminal to insert themselves in between the user and the network, causing all user data to pass through the attacker.
4. Protecting Your Company and Data

Staying protected against the threat of cyberattacks is more important than ever. Yet, 47% of SMB decision-makers say they are unsure how to keep their business protected.

While there are many ways to keep your business secure, the two most important steps are investing time and resources in your cybersecurity systems and educating your staff.

Whether or not your SMB employs a full-time IT services team, working with third-party security experts can ensure you have the software, virus protection, and hardware in place to detect security and data breaches before they cause damage to your network. Cybersecurity teams also provide consultation and education so that your employees understand the importance of their role in protecting company data.

A majority of malware and ransomware breaches occur when employees mistakenly click on phishing emails or use their devices on unsecured networks. By educating your team about cybersecurity and cyberattacks, you can prevent unnecessary risk to client and company information.

Cyberattacks are threatening small to medium businesses more than ever before. Understanding the importance of cybersecurity and implementing software and education strategies to stay ahead of cyber threats could make all the difference in keeping your business safe.

Ash Bonebrake is the Ceo of Intelice Solutions. Ash brings more than twenty years of systems architecture and design experience to the firm. Ash regularly speaks on topics addressing the technology need