High-profile cyber attacks on companies such as Target and Sears
have raised awareness of the growing threat of cyber crime. Recent surveys
conducted by the Small Business Authority, Symantec, Kaspersky Lab and the
National Cybersecurity Alliance suggest that many small business owners are
still operating under a false sense of cyber security.
The statistics of these studies are grim; the vast majority of
U.S. small businesses lack a formal Internet security policy for employees, and
only about half have even rudimentary cybersecurity measures in place.
Furthermore, only about a quarter of small business owners have had an outside
party test their computer systems to ensure they are hacker proof, and nearly
40 percent do not have their data backed up in more than one location.
Don’t Equate Small with Safe
Despite significant cybersecurity exposures, 85 percent of small
business owners believe their company is safe from hackers, viruses, malware or
a data breach. This disconnect is largely due to the widespread, albeit
mistaken, belief that small businesses are unlikely targets for cyber attacks.
In reality, data thieves are simply looking for the path of least resistance. Symantec’s
study found that 40 percent of attacks are against organizations with fewer
than 500 employees.
Outside sources like hackers aren’t the only way your company can
be attacked—often, smaller companies have a family-like atmosphere and put too
much trust in their employees. This can lead to complacency, which is exactly
what a disgruntled or recently fired employee needs to execute an attack on the
business.
Attacks Could Destroy Your Business
As large companies continue to get serious about data security,
small businesses are becoming increasingly attractive targets—and the results
are often devastating for small business owners.
According to the Kaspersky Lab, the average annual cost of cyber attacks
to small and medium-sized businesses was over $200,000 in 2014. Most small
businesses don’t have that kind of money lying around, and as a result, nearly
60 percent of the small businesses victimized by a cyber attack close
permanently within six months of the attack. Many of these businesses put off
making necessary improvements to their cyber security protocols until it was
too late because they feared the costs would be prohibitive.
10 Ways to Prevent Cyber Attacks
Even if you don’t currently have the resources to bring in an
outside expert to test your computer systems and make security recommendations,
there are simple, economical steps you can take to reduce your risk of falling
victim to a costly cyber attack:
1.
Train employees in cyber security principles.
2.
Install, use and regularly update antivirus and
antispyware software on every computer used in your business.
3.
Use a firewall for your Internet connection.
4.
Download and install software updates for your
operating systems and applications as they become available.
5.
Make backup copies of important business data
and information.
6.
Control physical access to your computers and
network components.
7.
Secure your Wi-Fi networks. If you have a Wi-Fi
network for your workplace make sure it is secure and hidden.
8.
Require individual user accounts for each
employee.
9.
Limit employee access to data and information,
and limit authority to install software.
10.
Regularly change passwords.
In addition to the listed tips, the Federal Communications Commission
(FCC) provides a tool for small businesses that can create and save a custom
cyber security plan for your company, choosing from a menu of expert advice to
address your specific business needs
and concerns. It can be found at www.fcc.gov/cyberplanner.
Your Emerging Technology Partner
A data breach could cripple your small business, costing you
thousands or millions of dollars in lost sales and/or damages. Contact Better
Business Planning, Inc. today. We have the tools necessary to ensure you have
the proper coverage to protect your company against losses from cyber attacks.
Source: Zywave, 2019.
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