With the constant development of technology and the Internet, cybersecurity has been a growing concern. Organizations of all sizes are prone to cyber threats from all over the world.
The consequences of cyber threats depend on the size of an organization. A small business may not worry about hackers stealing millions of dollars from their accounts, but ignoring the minor threats can lead to their decline.
High-tech villains have recently begun aiming their attacks on small organizations. Unfortunately, according to a 2018 Report by the Ponemon Institute, only 14% of small businesses are ready to defend themselves from a cyber attack.
How is Your Business at Risk?
Several factors contribute to a business’ level of risk from cyber attacks. Here are the four most significant cybersecurity risks a small organization can face:
Cyber risks involve external threats, as when:
Hackers send emails designed to mimic legitimate communication. The victim then clicks a malicious link from the email that could install malware so the hacker can access sensitive information or steal assets.
The hacker accesses your data and holds it hostage until you pay a ransom.
Distributed Denial of Service (DDoS) attacks. The hacker prevents access to applications, devices, networks, and services.
Data risks involve the loss of critical and sometimes confidential data like customer information, internal information, and trade secrets. These risks occur because employees have a hard time classifying, identifying, and storing information.
Human Capital Risks
A business is more prone to cyber threats when there is a lack of trained IT security personnel. You may struggle to find qualified security practitioners or your current team isn’t equipped to handle high levels of cyber threats.
The lack of cybersecurity education given to employees is also a factor. Your team might be using passwords that are easy to guess. Your employees might be connecting their own devices to the company network, making it more prone to malware or viruses.
Your business might have trouble securing technologies such as cloud services, server environments, and Internet of Things devices. These networks are likely to be prone to threats when you’re using conventional security measures, such as:
Web application firewalls that flood your network with false positives
Runtime application self-protection (RASP) solutions that often require code changes
Protecting Your Business from Cyber Attacks
Start prioritizing cybersecurity to protect your business. Here are a few ways you can be less susceptible to cyber attacks:
Identifying sensitive data
Know what information is valuable to your company and how you can secure your data.
Educating your employees
Educating your team can be as simple as reminding them not to open suspicious emails or requiring them to change their passwords regularly. You can also hire a third-party organization to run a workshop on cybersecurity for your employees.
Using the right platforms
Research on trustworthy platforms and hosting companies and make sure the staff is available 24/7 to attend to any concerns or emergencies.
Securing your hardware
Lock down computers, servers, and other devices so that they’re not easy to steal.
Hire a reliable third-party expert to assess your risks, as well as guard your data and properties.
Small businesses becoming the top targets of cyber villains is a sign that there’s a lack of investment in cybersecurity. Identifying the risks your business faces and working on them right away helps your organization thrive despite the looming threats.