Small businesses are often prime targets for cybercriminals, yet many underestimate the risks. From phishing scams to weak passwords, the challenges are growing more sophisticated. Understanding the most common cybersecurity threats that small businesses encounter is the first step in protecting your organisation.
In this blog, we will discover what cybersecurity threats are used against small businesses daily.
Top cybersecurity threats for small businesses:
Cybersecurity threats are constantly evolving, and small businesses are often at higher risk due to limited resources and weaker defences.
The impact of these attacks can be severe, leading to financial loss, reputational damage, and data breaches.
Here are the top cybersecurity threats facing small businesses today:
Phishing Attacks
Phishing is by far the most common form of cyber-attack, with Cisco estimating that it accounts for around 90% of all data breaches. The aim is to steal personal information, such as credit card numbers, bank account details, or passwords, by tricking users into clicking on bad links. Whilst Phishing attacks are most commonly delivered as a convincing-looking email, increasingly, text messaging or social media links are being used to tempt people to fake websites.
Within your business, the use of multi-factor authentication can help minimise the impact if a bad link is used. As with all cybersecurity threats, educating staff and having a quick, easy, and guilt-free way of reporting any potential breaches is vital to minimising cyber risk.
Malware
Malware, short for “malicious software,” is where cybercriminals manage to install code on a computer, which may cause damage, steal data, or give hackers a back-door route to access the computer system. Common types of malware include viruses, worms, and Trojan horse attacks.
One of the problems with malware is that it is not always obvious that a system has become infected. The first signs of a malware attack may only be visible once it becomes apparent that you or a customer’s confidential data has been stolen.
The best defence against malware (alongside good staff training) is using strong Endpoint Protection software, designed to defend against malware threats across a business’s entire IT systems.
Ransomware
Ransomware is an increasingly common cyber threat. It is a form of malware that operates by locking computer systems or encrypting data, rendering it unusable until a ransom has been paid. In 2018, around 70% of ransomware attacks were on small businesses, as poorer security and recovery options would make them more likely to pay the ransom demand.
Strong Endpoint Protection can help prevent these types of attacks, whilst having an offline copy of critical data; using an effective cloud back-up solution will make recovery without paying the ransom easier.
Password Hacking
A recent CNBC article suggests passwords are notoriously weak. Based on analysis of a large number of leaked email passwords, they discovered that the most common password was “123456”, with “Qwerty” making it into the list at number 3, just ahead of “Password” at number 4.
A good password manager can help improve cybersecurity. It runs on all your devices (PC, phone, tablet, mobile, etc) and manages your passwords, so users don’t need to remember them. Many password managers will automatically fill in the relevant online user ID and password boxes, saving the user time and effort. Most importantly, it allows stronger, more secure passwords to be used and different passwords to be used for each site.
Insider Threats
This is the threat that no one likes talking about, but it’s very real. The risk comes from an employee, former employee, business contractor, or associate who has access to IT systems, passwords, or data. Verizon found that over 20% of data breaches were caused by insiders.
Whilst it is almost impossible to eliminate the risk, there are a couple of ways to reduce it. Ensuring that employees only have access to the data and systems they need will help compartmentalise any breach, as well as help to identify the source. Knowing which systems a user has access to means that passwords can quickly be changed if a person leaves. Making sure there is a strong culture of security awareness within the company will also help others to spot potential misuses of data or strange behaviour, before too much damage is done.
Summary
Cyber threats are real, and they are growing. Small businesses are not immune to the threat. The good news is that simple and basic precautions can help.
Strong Endpoint Protection software, taking regular back-ups of critical data, and a good password app, will serve any small business well. Perhaps the most important thing for a small business, however, is to make sure staff are well trained in cyber threats and know what to do if they suspect an attack or spot a potential risk.
Employing a good cybersecurity lead could be just what is needed to help protect and grow your online business.
About Intaso
Intaso is all about people and cybersecurity. A boutique head-hunting and talent solution firm with Cyber and Information Security expertise, we have extensive first-hand expertise across all elements of attracting the right talent from often unfound and untapped resources. We believe that having a genuine passion for the industry, pride in the quality of our services, a tailored range of talent solutions, and a personal approach means we have a unique offering that has worked with businesses of all sizes and industries.
If you are looking for the best talent in the industry or want to discover a great new role, please get in touch. We would love to hear from you.
