Why SMBs are at Risk of a Cyber Attack During COVID-19

30 - store closingSmall and Medium sized businesses (SMBs) are not immune to cyber attacks.  In fact, they are a prime target for hackers because they know SMBs have fewer resources for protection, but still have equally valuable information.
Hackers, like most people, will choose the path of least resistance, or the low hanging fruit, when choosing their targets.  So, an SMB that doesn’t have the same security resources as a large enterprise is an easy target.  COVID-19 is a bis issue for most business owners right now, so cyber security is likely the last thing an SMB owner is thinking about. Most are thinking how they can keep their businesses running during and after the pandemic.  The problem is, cyber attacks are also on the increase during this pandemic.  A statistic posted in a blog by Layr earlier this year claims that 60% of small businesses close 6 months after a data breach. Combined with COVID-19, that number is sure to increase. The recent Verizon Business 2020 Data Breach Report shows that Phishing is the biggest threat for small organizations, accounting for over 30 percent of breaches. The use of stolen credentials (27 percent) and password dumpers (16 percent) are also key attack vectors. The hackers are targeting credentials, personal data and other internal business-related data such as medical records, internal secrets or payment information. To avoid a data breach, SMB owners like you need to educate yourselves and your staff as to what an attack could look like.  You and your team need to learn about different types of cyber fraud schemes and common threats, such as phishing and spoofing scams, social engineering, malware and systems hacking.  As the Verizon report shows, phishing is one of the biggest threats to an SMB like yours, and it’s one that can be mitigated by anti-malware tools and cyber awareness training.  Your employees are typically seen as the biggest cyber weakness in an organization, but with the right training, they could become a cyber strength.  Uzado is here to help SMBs like yours. Contact us to learn how our cyber awareness program can help organizations like yours.

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