Cyber Crime Against the Small Business

As a small business owner are you prepared for a cyber security attack? What damage would a cyber security breach mean to your company? Who is responsible for cyber security in your organization?  As the CEO of a smaller business, it is your responsibility to know these answers.  If you don’t, you will be next in the long line of businesses being destroyed every day by professional cyber criminals. 

It seems we hear of new attacks every week to major companies across the globe: Target, Anthem, Sony, Home Depot, Ashley Madison, the list goes on and on.  We hear figures of damages in the billions of dollars and think, “This can’t possibly happen to us.  How could it?  We are just small potatoes to major cyber-crime syndicates; why would they bother with us?” The answer is simple: you are an easy target. You likely don’t have the infrastructure built up to properly defend against an attack.  You lock your doors every night, insure your building, have security cameras watching over your office, but who is looking out for your most valuable information?  Is the front door wide open to your network? What would happen if your financial records and customers' personally identifiable information were stolen?  How would that affect business?  The answer is simple: It would cripple it.

Although we hear of the bigger attacks to the major companies, what we aren’t hearing is that 62% of all cyber-attacks affect small to medium sized businesses. In 2014, it was estimated on average that a general data breach cost a small business $201 per customer record and to the tune of a $5.9 million dollar loss. That personally identifiable information (PII) is sold on the black market, and your customers have now been a victim of identity theft.  What are your mandatory reporting laws?  Did you know that you are legally responsible to contact your client base and inform them their records have been compromised?  What affect would this have on your relationship with current clients?  Would they stay with you?  Would this hurt possible future business?  This is where the loss really hits the business; your reputation has now been destroyed.  After 2013 do you feel comfortable giving your credit card information to Target? This is a big reason they are closing stores nationwide.  Don’t let this happen to you.  

So what are your solutions?  Is it all doom and gloom for the future of the small business?  No.  There are measures you can take.  With a proper monitoring system such as Carbon Black and Bit9, there is software out there that can work as your surveillance camera system for you.  Combined with a managed security services team, like WatchPoint, you can confidently know that your network and information are secure.  Don’t wait to be another victim. Please feel free to contact us for more information on how our intelligent software and real-time response team can fully protect your business from this ongoing threat.