What are the Security Threats that Small Businesses Face?

According to Verizon, about 60% of data breach victims are small businesses or those with fewer than 1,000 employees. Contrary to the common notion, hackers are now honing in on small businesses due to their vulnerable nature. They are the low-hanging fruit and easy pickings for hackers.

As SMBs become the target of cyberattacks, you must conduct a proactive approach. The following are some of the security threats that small businesses face:

Data breach

One of the most prevalent cybersecurity issues that small businesses face is data breach. Any weak spot in your system can easily become the entry point of hackers to get a hand of your data.

This breach will compromise your customer’s information, financial information, intellectual property, and other confidential information. If you don’t have a backup, all your files will be lost and you may face legal problems.

Misconfigured security technologies

The problem with extensive security measures is it could be tricky to set up. At some point, it can also become a liability if not implemented within your organization properly.

If you’re planning to reinforce your cybersecurity infrastructure, it’s better that you work with a trusted IT company. This way, your system will be properly set up and you won’t have to worry about maintenance as well.

BYOD problems

Small businesses often implement a Bring Your Own Device (BYOD) policy. This is so they won’t have to shoulder the extra expense of acquiring new devices.

As much beneficial as this is, it also imposes threats to your cybersecurity. Since BYOD devices are unregulated, it can become the entry point of phishing and hacking.

Also, any of your BYOD employees can copy sensitive information leading to a data breach.

Phishing attacks

One of the most notorious threats among small businesses is phishing. It’s one of the avenues hackers use to get into your business. It usually comes in the form of unsuspicious emails, clone websites, and links.

According to experts, about 30% of all phishing attacks are successful. The worst part here is that many small businesses don’t notice this until the hackers make their big move.

DDoS attacks

A DDoS attack may sound like a far-fetched thing for small businesses. However, the tides are shifting, which makes small businesses vulnerable to the same threat.

Unlike phishing, DDoS attacks are much worse. The attack comes from multiple directions that flood your system of malware. Aside from losing sensitive data, most businesses who become victims of DDoS also lose revenue and customers.

Ransomware

Some of the infamous ransomware these days include Wannacry, Locky, Bad Rabbit, and Petya. These malware damage your computer and hold your data hostage until you pay what they demand.

However, even if you get to pay the ransom, there’s no guarantee that your data will remain intact. Also, small businesses that got affected by ransomware stand the chance of closing doors or declaring bankruptcy.

Wrapping up

Even as a small business, cybersecurity is a must. You should be vigilant and proactive to prevent these threats from killing your business.