Small business owners face a barrage of security threats regularly, sometimes without their evening knowing it. These are the top 7 cybersecurity threats small businesses face:
Ransomware targets small businesses by holding their internal data hostage. The hackers promise to release your network upon payment of a ransom. It is the most common cybersecurity threat that business owners face and cripples their ability to perform work and keep customer data secure.
2. Phishing Attacks
Phishing attacks are the cause of more than 90 percent of all cybersecurity attacks. They work by seemingly acting as someone with whom your organization is already familiar. The attacker will make it seem like you need to click a link or open a document containing malicious script. This can result in their breaching your sensitive data or login credentials.
3. Bring Your Own Device (BYOD)
Due to an increased need for mobile connectivity, small business owners are allowing employees to access internal networks on their devices. This opens your organization up to a host of problems since you are unable to control what happens on your employees’ devices.
4. Authorized Push Payment (APP) Fraud
APP fraud is a newer but fast-growing form of information security risk. It basically involves a hacker tricking you into sending a massive bank transfer by pretending to be an official from a bank or other business. They will tell you that they flagged your account for fraud and that you need to transfer your money immediately.
5. Weak Passwords
Weak passwords are the result of creature comforts. It is tough enough to remember one password and its variants, let alone a unique password for every system you use. However, using weak passwords is like giving a thief a single key that unlocks every door in your building.
6. Malware Attacks
Malware attacks comprise of infecting your devices and system using classically known viruses and trojans that have plagued man since the dawn of internet connectivity. By running malicious code and scripts, hackers gain access to your network, data, and hardware devices.
7. Internal Threats
Internal risks are another significant information security threat plaguing small business owners. It is the occurrence of your past or current employees, vendors, and managers, causing a data security breach based on their knowledge of your business operations and internal networks.
The idea that your business is immune because it is not “high-profile” is a bit of misnomer. In fact, small business is more attractive to hackers since they lack the resources to stand up to attacks.
Here are a few eye-opening statistics related to small business cybersecurity:
- Small business accounts for 43 percent of cyberattacks
- 14 percent of small businesses believe their cybersecurity measures are effective
- 60 percent of small businesses fail due to cyber breaches
- Human error causes 52 percent of data security issues, not malicious intent
- The biggest concern for small business owners is customer information security
As you can see, small business is not immune to the pitfalls of cybercriminals. Understanding the various threats can help you become more aware of how to recognize and handle them. Reach out today to learn how VoxNet can help you protect your business.