5 Cybersecurity Facts For Small Businesses – Angel Investors | Accredited Angel Funding Network | Get Funded

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The rising prevalence of automated attacks makes it simple for cybercriminals to target hundreds or even thousands of small businesses simultaneously. When it comes to cybersecurity, small enterprises typically have weaker technological defenses, less threat awareness, and fewer resources. As a result, hackers are more likely to target them than giant corporations.

However, they are not any less valuable as a target. As a result of legislation like GDPR, even the tiniest firms have a responsibility to ensure the security of sensitive consumer information and monetary transactions. Hackers can utilize the fact that small firms frequently partner with larger corporations to access the larger corporations’ networks.

Therefore, the best way to defend yourself is to be familiar with the most prevalent types of cyberattacks.

1) Attempts to Steal Personal Information through Email (Phishing)

Phishing attacks are the most common and broad danger to small businesses today. When an attacker poses as a reliable source in order to trick a user into divulging personal information, account data, or credentials, this is known as a “phishing attack.”

In recent years, phishing attempts have become increasingly complex, with cybercriminals able to pose as trustworthy business associates convincingly. Corporate Email Compromise is also on the rise; criminals are utilizing phishing campaigns to get access to high-level executives’ business email accounts and then using those accounts to make fraudulent payment requests to their staff.

Security Awareness Training is the last line of defense against phishing assaults via email. You may safeguard your workforce with the help of these tools by giving employees the opportunity to take phishing awareness tests and participate in training sessions.

2) Malicious software attacks

Malware is the second biggest problem for small businesses. It includes cyber threats like trojans and viruses. Malware is a broad term for malicious code that hackers write to break into networks and steal or destroy computer data. Malware usually comes from downloading files from malicious websites, opening spam emails, or connecting to other machines or devices that are already infected.

To fix this, expensive repairs or replacements needed. They can also give attackers a back door to access data, putting customers and employees at risk. Small businesses are more likely to hire people who bring their own devices to work because it saves time and money.

Businesses can protect themselves from malware attacks by setting up technologically solid defences. Endpoint Protection solutions protect devices from malware downloads and give admins a central control panel to manage devices and make sure that all users’ security is up to date.

3) Ransomware

Thousands of organizations fall victim to ransomware, one of the most widespread forms of cybercrime, each year. Given the high potential rewards, it’s not surprising that this type of attack has increased in frequency.

These attacks pose a particularly serious threat to small enterprises. Because of the lack of resources and time to back up their data, attackers know that smaller businesses are more inclined to pay a ransom. In the healthcare industry, this type of attack can be devastating because locking patients’ medical records and appointment times might force a business to shut down unless a ransom is paid.

Strong endpoint protection on all company devices is essential for warding off such assaults. These will make it harder for ransomware to encrypt files. SentinelOne, an endpoint protection system, even has a “ransomware rewind” capability that enables businesses to detect and counteract ransomware assaults instantly.

A reliable cloud backup solution is something else that businesses should think about. These services provide a safe offsite copy of crucial company information in the event of a disaster. Organizations can choose from a number of different data backup strategies, so it’s crucial to do some digging to find one that fits your needs.

4) Insider Threats

The term “insider threat” refers to the danger that an employee or other member of an organization with special access or knowledge could use that access or knowledge for malicious purposes. Acts of malice, negligence, or accidents can all have an impact on an organization’s ability to function normally, as can the loss of sensitive information, key staff, or physical space.

The Cyber and Infrastructure Security Agency (CISA) defines an insider threat as the risk that an insider would use his or her permitted access to cause damage to the department’s mission, resources, staff, facilities, information, equipment, networks, or systems.

5) Minimize Internet Access via Wireless Networks

Your company’s wireless network should password-protected if it is accessible outside of working hours. Be cautious to keep the networks distinct so that sensitive information on your business network is not accessible to the public if you provide wireless connectivity to your employees and consumers. If you’re concerned about your data’s safety, keep in mind that WPA2 provides increased protection via more sophisticated encryption. If you turn off your Wi-Fi when the building is empty, hackers won’t be able to use it to get access to the network and steal sensitive information.

Summary

As of right now, small enterprises face a wide variety of dangers. To safeguard against these dangers, firms should implement a full suite of security measures and provide users with an information security program.

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