{"id":179350,"date":"2018-05-30T12:39:00","date_gmt":"2018-05-30T17:39:00","guid":{"rendered":"https:\/\/www.ntegrait.com\/cyber-theft-a-real-threat-to-small-businesses\/"},"modified":"2018-05-30T12:39:00","modified_gmt":"2018-05-30T17:39:00","slug":"cyber-theft-a-real-threat-to-small-businesses","status":"publish","type":"post","link":"https:\/\/ntegrait.com\/cyber-theft-a-real-threat-to-small-businesses\/","title":{"rendered":"CYBER THEFT, A REAL THREAT TO SMALL BUSINESSES"},"content":{"rendered":"

Cybercrime is no longer a new phenomenon. The zeal with which cybercriminals have committed these offenses in the past has led to an outcry from businesses and organizations. Cybercriminals are constantly on the prowl for new sites to attack. They are continuously improving their methods of attack. To make matter worse, this type of crime is very difficult to solve. The attacks themselves become more sophisticated as the days go by. Many experts are searching for real solutions; permanent solutions.<\/p>\n

\"Cyber<\/p>\n

The threat to small businesses <\/strong><\/p>\n

While many organizations have put in place various measures to prevent this crime, a look at the statistics reveals that only large organizations are really doing everything they need to do. Smaller companies either think they can\u2019t afford good protection or don\u2019t need it. The best protection from cyber breaches is expensive. It requires training for employees, risk assessment, and the installation of a good array of programs that can detect and prevent intrusion. There are ways that small businesses can get the same top-notch protection as a large organization. And, it is imperative that they do so. A big data breach could cost your company millions of dollars. Most experts say that it\u2019s not a matter of IF you get attacked; it\u2019s just a matter of WHEN.<\/p>\n

How real is the threat?<\/strong><\/p>\n

The threat of a cyberattack is a lingering one despite the amount of protection that one invests in. That\u2019s because the nature of this crime is to evolve with each new attack. This is why most business owners prefer to invest in protection services with the ability to detect cybercrime before it occurs. The Verizon Data Breach Investigation Report shows that the threat of cyberattacks on small businesses is much greater than small business owners anticipate. This group states that up to 61% of cyber security breaches were experienced by small businesses last year. This was an 8% rise from 53% in the previous year.[1]<\/a><\/p>\n

Cost of cyber-attacks on small businesses<\/strong><\/p>\n

While small businesses fail to invest in protection systems because of the costs, it is noteworthy that the amount of money lost as a result of cyberattacks is considerably higher. The ransomware attack is a great example of this fact. One ransomware attack can stop your workforce in its tracks. Your data will be locked until you pay. Some thieves threaten to release your internal documents to the public. This caused a huge amount of embarrassment for Sony Pictures after their 2014 data breach.[2]<\/a> The North Koreans took responsibility for this breach, claiming that they did not like a movie that Sony was about to release where the North Korean dictator was to be made fun of.<\/p>\n

In the end, the damage to Sony was more about being embarrassed before the whole world. Sony\u2019s reputation was severely damaged. Though large companies like Sony can survive an attack like this, small companies cannot. A new study shows that cyberattacks cost on average, $38,000 per attack.[3]<\/a> Below are a few other stats pertaining to small businesses and data breaches:<\/p>\n