Even those with little interest in the latest cybercrime news will have heard of the cyber-attacks and security breaches that have brought the biggest, multinational companies to their knees. Over the years the likes of Adobe, Sony, Target, Marriott, British Airways and Yahoo have been targeted leaving customer data (such as usernames, passwords and payment information) in the hands of the wrong people.
These highly publicised cyber-attacks may have grabbed the headlines, but it is important to note that there are many more cases of cybercrime that go unreported yet still have a devastating impact on both company and customer.
Cybercriminals after all aren’t just predisposed to target large, multinational companies. Small businesses are just as much of a target as the big name brands whose cyber security failures become worldwide news. But why is small business data so highly prized by hackers and what steps can you take to ensure you don’t become the victim of a cyber-attack?
Small business cybercrime is increasing
The threat of cyber-attack is more of a prospect than ever, especially as businesses of all sizes and serving all industry sectors put more emphasis on their online activity and development.
With the rise of digital progression however comes an increase in cybercrime, and the latest figures showed that smaller business are increasingly at risk as a result. The Department for Digital, Culture, Media and Sport’s Cyber Security Breaches Survey 2020 revealed that small and medium sized businesses were more likely to suffer a cyber-attack than large businesses with 250 employees or more.
According to the same research, medium and large businesses were more likely to seek further information about how to improve their cyber security defences. Techniques like penetration testing are generally used more routinely in larger corporations than in micro or small businesses, putting them at an increased risk.
Why hackers love small businesses
Contrary to popular belief, small businesses are an extremely attractive target. Both large and small businesses after all hold valuable company and customer data that can be used to a cybercriminal’s advantage.
Small businesses also tend to have lower levels of security, with companies of a smaller size generally not having the resources or the finances to bolster their defences making them easier prey for hackers and fraudsters.
Employee training is likely to be lacking, too. Smaller businesses with fewer employees tend not to invest in the training programmes that mean cyber security awareness can be raised, and threats can be recognised and responded to from within. This lack of knowledge can expose its own vulnerabilities, with insider threats more common in smaller businesses than large companies.
Protecting your small business from cyber-attack
There are many steps you can take to safeguard your small business from the ever-increasing threat of cybercrime. But thankfully you don’t need a big budget to successfully protect yourself, your customers and your data.
Penetration testing is a simple, effective and affordable way to protect your company from cybercrime. Penetration testing enables you to test your own cyber defences before a hacker does. With this information, you can close the loopholes and eliminate the vulnerabilities that could so easily put your company and customer data at risk.
