Recent statistics on small and medium-sized business (SMB) cyber attacks and data breaches show that more than half have been targeted by a ransomware attack. Knowing is half the battle, so here are the rest of the scary statistics on SMB cybersecurity.
Security threats to small and midsize businesses
No one is immune to a cyber attack, least of all SMB. The main interest that hackers have in small businesses, is that there are often glaring vulnerabilities because many SMB owners aren’t placing a big enough importance on cybersecurity. Because these business owners don’t feel threatened, they tend to fall behind on important security measures, like updating software or creating strong passwords. This makes small and midsize businesses much more vulnerable to cyber attacks and ransomware.
SMB cyber attacks and ransomware statistics
The 2017 State of Cybersecurity in Small & Medium-Sized Businesses (SMB) Research Report by Ponemon Institute© reveals some scary statistics on the growing threat of cyber attacks that SMB face. Because more and more business is being conducted electronically, more and more data is becoming available which is way too enticing for cybercriminals. SMB is also vulnerable because of any downtime or any breach, no matter how small, which is not only disruptive but can be destructive to a business. Small and medium-sized businesses will have a tougher time coming back from a data breach than a multi-national conglomerate. This also makes it more likely for an SMB to pay a ransom quickly to get their business back, giving hackers exactly what they want. Here are the main takeaways from the research report:
- Cyber attacks have increased from 55% to 61%
- Hackers are becoming more sophisticated and severe
- Phishing/social engineering methods were used 48% of the time
- Ransomware was the attack of choice in 52% of the cases
- Over 50% of the targeted SMB was attacked a second time
- Proprietary and client information was stolen in over 50% of respondents
- The number of records stolen has almost doubled
- Human negligence was the root of the cause in more than 50% of data breaches
Data recovery plan
Every small and medium-sized business needs a comprehensive data recovery plan in case of a data breach. However, the first step to avoiding a hack is to update your software, create strong multi-factor passwords, control access to sensitive information, and implement anti-malware and firewalls to keep hackers out.
Cybersecurity experts in Denver
OnePointSync has a complete and comprehensive cybersecurity plan for small and medium-sized businesses in Denver. Secure your system, instill customer confidence and avoid detrimental hacks and security breaches.