3 Cybersecurity Challenges SMBs Can Overcome

# Cybersecurity

cyber-thumbs.jpgCybersecurity challenges continue to grow every year. According to the Ponemon Institute's latest report, small and medium businesses (SMBs) face higher and more disproportionate costs during security breaches than the average corporation. The top three cyber society challenges SMBs face today include:

  1. Phishing
  2. Ransomware
  3. Insider Threats

Fortunately, SMBs that identify and understand cybersecurity challenges can overcome them altogether.

Phishing

Phishing occurs when criminals send an email that appears to be a legitimate organization. However, the sender email address does not typically match the company’s real email. It’s possible for phishing criminals to appear as the business loan lender, leasing agent, distributor, or other company a SMB deals with regularly. Criminals are attempting to have the SMB owner login and provide confidential personal, business, and/or banking information.

Cyber security criminals are more likely to target SMBs rather than larger corporations with phishing scams. SMBs are the typical target because they usually do not have company-wide email protocols. Email security and basic security practices are an absolute necessity to prevent a phishing scam.

Ransomware

Ransomware can cause havoc for organizations of any size, but especially SMBs. Hackers can lock SMBs out of crucial databases and equipment and require a massive ransom in order to gain access again. According to Cisco, ransomware is the highest cause for SMBs having a 24+ hour lockdown.

Unfortunately, ransomware is incredibly prevalent because it hardly has any risks or costs for the attackers. It typically provides them an incredibly large payout because SMBs need to get back into their systems in order to continue their business operations. Even if the ransom is paid, SMBs will have a hard time recovering the funds lost during the lockdown.

Insider Threats

Insider threats are an ever increasing concern due to the COVID-19 era increasing the number of remote workers. Current and/or former individuals associated with the company become insider threats when they misuse company information.

More often than not, these threats are carried out by those with compromised credentials. Damages from insider threats include, but are not limited to, misuse of information, deletion of valid user credentials, and release of classified information.

It’s possible for some insider threats to be accidental. User behavior analytics (UBA) can help understand the risk assessment for individuals throughout the company.

Risk Assessment & Prevention Can Protect SMBs

The only way to overcome cybercrime is to prevent it from happening at all. In order to protect your SMB from cyber criminals is to understand where and how they will attack. While some basic cybersecurity steps such as a firewall, email protocols, and behavior analysis can go a long way, these do not cover all of the threats you may face.

Rvyle Technology offers a complimentary risk assessment for SMBs to help identify exactly what threats you are susceptible to and how to prevent them. Contact us today to learn more about how our dedicated team can help you overcome new and existing cybersecurity challenges 365 days a day.