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November 18, 2022 | By stephen
Cybercrime is continuing to rise around the world. In fact, it has become so common that new reports that suggest a cyberattack takes place every 39 seconds. The Equifax breach, the attack on Uber last month, and many others are examples that prove most businesses are vulnerable.
In 2021, there were 847,376 complaints related to cybercrime and a total of $6.9 billion worth of losses. So, what is it that causes a business to be targeted? Why do so many attacks happen on small to mid-sized firms? Below, we will discuss exactly why certain businesses tend to be more at risk than others.
Storing Sensitive Information
If you store sensitive data, you’re automatically at risk. This is because criminals can do a lot more with confidential information than they can with general data. Think about it. A company that stores social security numbers, birthdays, and other personal information is like a pot of gold to hackers. Successfully intercepting this information means they now have the components required to steal someone’s identity.
Keep in mind, sensitive information isn’t just limited to personal data. It can be any of the following (and much more):
- Healthcare records
- Surgical records
- Prescription information
- Administrative data
- Employer identification numbers
- Credit card numbers
- Bank account and routing numbers
- Driver’s license information
Lack of Employee Training in Cybersecurity
Internal sources, like your employees, can be one of the biggest threats to your business if they lack proper training and education in cybersecurity. Most often, cybercriminals are adept at making messages appear to be legitimate, and an unsuspecting victim (like an untrained employee) is unlikely to recognize a threat.
For example, say you have an employee that has received a message via email asking them to download an “important” attachment. They see no issue as the email appears to be from one of their co-workers, so they oblige with the request. Unbeknownst to them, a hacker has just successfully released malicious software into the computer and compromised your entire organization.
Little to No Security in Place
Unfortunately, many small to medium-sized businesses don’t take proper security measures because they assume that they are too small to be a target. Others find that implementing cybersecurity solutions is too costly.
Small businesses are especially attractive to cybercriminals because they typically have weak online security measures in place. Moreover, small businesses often use cloud-based services with weak encryption. In the eyes of a hacker, it’s much like giving out the code to your safety deposit box.
It’s time to think twice before deeming cybersecurity solutions to be unessential. One attack can cost hundreds of thousands of dollars, enough to make a small firm close for good.
Find a Reliable Cybersecurity Company
The factors discussed above should be ample reason to consider talking to an IT service provider about securing your business. Contact one of our providers at LeadingIT today to get on the right track to securing your business once and for all.
LeadingIT offers 24/7, all-inclusive, fast and friendly technology and cybersecurity support for nonprofits, manufacturers, schools, accounting firms, religious organizations, government, and law offices with 20-200 employees across the Chicagoland area.