Small Businesses Prime Targets for Cyberattacks: Key Signs & Defense Strategies

In the wake of prominent cyberattacks targeting major entities such as casinos, tech giants, and power grids, there is a common misconception that small and midsize businesses are less susceptible to such threats.
Approximately 52% of small and midsize businesses and 71% of midmarket firms experienced ransomware attacks in the past year.
56% of small and midsize businesses and 88% of midmarket firms faced various other forms of cyberattacks.
Dismissing the assumption that cyber adversaries only target large corporations may lead to overlooking crucial signs indicating otherwise.
Cyber threat actors strategically exploit their knowledge of specific industries to launch targeted attacks on entire classes of enterprises.
Businesses falling victim to ransomware attacks tend to fall into two categories: those that comply with the ransom demands and pay, and those that refuse.
Once threat actors discern a company's willingness to pay, research indicates an 80% likelihood of a second attack, with the ransom amount typically escalating.
Cyber adversaries often prioritize smaller businesses due to the lower level of effort and risk involved.
Smaller enterprises typically possess limited security resources, lower security awareness, and fewer security tools and processes.
Notably, only 32% of employees in small and midsize businesses understand phishing, and merely 15% have received security awareness training.
Threat actors exploit these vulnerabilities to operate stealthily within the network, causing more prolonged and damaging impacts.
Addressing cybersecurity concerns in today's complex threat landscape requires a proactive approach.
Collaborate and Share Threat Intelligence: Coordinate with industry peers to prepare organizationally and technologically for potential attacks.
Learn from Attacks and Stay Informed: Stay abreast of security research and advisories provided by vendors, analysts, and government organizations.
Understanding the tactics, techniques, and procedures employed by threat actors enables businesses to fortify their defenses.
Seek recommendations from peers and security partners on valuable information sources.
Implement Security Basics and Engage with Managed Security Service Providers: Focus on fundamental security measures such as patching, email security, secure domain name system configuration, and browser security.
Consider working with managed security service providers to enhance visibility into your environment.
Regular security awareness training for employees is essential to bolster the human side of cybersecurity.
By comprehending their tactics, implementing basic security measures, and fortifying your security posture, businesses can significantly reduce the risk of falling victim to cyber threats.


This Cyber News was published on www.cysecurity.news. Publication date: Tue, 26 Dec 2023 18:13:06 +0000


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