A Spike In Cyberattacks for Small to Medium Sized Businesses

Cyberattacks for Small to Medium Sized Businesses

Small and medium-sized businesses (SMBs) in the United States have become a favorite attack target for hackers and other cybercriminals according to the new research released by the Ponemon Institute. 

Their report, “2019 Global State of SMB Cybersecurity”, notes that approximately 76 percent of SMBs located in the U.S. have experienced a major cybersecurity incident in the past 12 months….representing a “significant increase” in cybersecurity incidents. 

In total, 63 percent of global organizations surveyed reported the loss of sensitive corporate or customer information in the past 12 months. Of these, U.S. companies experienced 69 percent of such data losses…a stunning jump of 50 percent from just four years ago!   

45 percent of respondents said their organization’s IT posture is “ineffective”.  

39 percent said there was no form of incident response in place to deal with the aftermath of a breach.   

Small to midsized organizations often do not commit the requisite resources to address their cybersecurity and privacy risks effectively.  Part of this is because commercial offerings are tailored to large organizations with larger budgets.  

It is critical that small to mid-sized organizations do right sized assessments of their information security gaps. Such assessments will allow them to prioritize their resources to focus on the most critical of controls.  In addition, they need to ensure that their teams are up to speed on the latest threats through phishing simulations and security training. Lastly, SMB’s need to ensure that they not only incorporate the proper security protections but that they can also validate through auditing tools that they are actually protected as even small breaks in protection can lead to costly breaches. 

Tags: Cyberattacks for Small to Medium Sized Businesses

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