Reggie Dejean Director of Operations View Bio

Is Your Small Business More at Risk for a Cyber Security Attack Than a Large Company?

News stories about cyber attacks generally focus on big box stores, large corporations or government databases. As a result, there is a common misconception among small business owners that they are not the target of such attacks. However, small businesses generally fall in to a “sweet spot” for most hackers, according to Business News Daily. During Small Business Month, we want to share information about why cyber criminals are focusing on small businesses and what you can do about it.

Minimal Digital Security

Small businesses don’t have the resources to invest in sophisticated security systems and dedicated IT departments. They are usually concerned with the normal operation of their business and not mitigating threats to their Computer Systems. In fact, the Guardian reports that almost 90 percent of small and medium-sized businesses in the United States don’t take measures to protect sensitive information on themselves and/or their customers. In addition, fewer than 50 percent of small and medium-sized businesses secure their email against “phishing” attacks.

Accidental Employee Actions

Intentional cyber crime on the part of small business employees is indeed unusual, but inadvertent actions that expose your company to a criminal hack are all too common. Naive or untrained employees can accidentally open the door to cyber crime through unwise use of social media, email or even giving out information over the phone to someone posing as a helpful IT professional. The National Cyber Security Alliance warns that 77 percent of small businesses lack any written policy for employee cyber security procedures.

Cyber Exposure Mitigation

According to AIG, small businesses have less financial capacity to survive an interruption of their online presence. Furthermore, legal action for damages caused by cyber intrusion can be brought against your company by government agencies or affected individuals. The cost alone to defend one of these claims could be catastrophic to the overall operation of your business. Cyber Liability coverage can provide you with the necessary protection from a wide range of losses that could arise out of a network failure or data breach.

, , , ,