Common Cybersecurity Threats Affecting SMBs and How to Prevent these Threats

January 11, 2021
cybersecurity risks for businesses

Astoundingly, 78% of small businesses are at risk of failure because of cybersecurity-related threats. Most small and medium-sized corporations are unprepared for cyber-attacks and this can be a nightmare when malicious criminals launch attacks.

Unlike large corporations, SMBs are more vulnerable to attacks as they have weak IT architectures that can easily be compromised by adversaries. Let’s look at examples of cybersecurity risks for businesses and ways your corporation can avoid cyberthreats.

Common Cyber Threats

While it is critical to understand the common avenues, criminals use to circumvent security measures, recognizing that the nature of these threats change with time is equally important. In this small business cybersecurity guide, we shall learn about the types of cyber threats that affect SMBs.

  1. Social Engineering

Among the growing list of cybersecurity risks for businesses, social engineering is becoming a huge concern as it is difficult until it’s too late. Criminals use catfishing techniques to lure unsuspecting company employees to provide critical company information.  Once they gain such information, criminals access databases that expose trade secrets and confidential customer information.

2.Ransomware Attacks

This is a kind of Denial of Service (DoS) attack that blocks users from accessing their workstations. The adversaries ask for a ransom for them to render the service back to computer owners. WannaCry, Locky, Ryuk, Petya, and Cryptolocker are some of the ransomware attacks that affected millions of small corporations across the world. If your business is affected, you might need cybersecurity services for small businesses to restore your systems and build a robust system to secure your enterprise.

3.Malware Attacks

Malware Attacks

Malware attacks constitute trojans and viruses that attackers use to compromise organizations. Hackers design malicious codes to breach databases, illegally access data, destroy information, and compromise networks. Malware attacks are significant cybersecurity risks for businesses as they can not only dampen the reputation of a firm but lead to loss of critical data and information. These attacks can immensely affect small businesses since they can cripple devices, networks, and IT infrastructure.

4.Phishing Attacks

Phishing Attacks

Phishing is a widespread form of cyber attack that every small and mid-size enterprise faces. Hackers attach web injections and malicious codes to files and email messages. When users click on these infected files, the code takes control, and the networks and computers enabling hackers to gain access to confidential information. Companies can invest in cybersecurity services for small businesses for endpoint and web security protection to prevent phishing attacks.

While these are the most prevalent cyber attacks hackers use to compromise improperly protected IT infrastructure, there are dozens of ways criminals use to make adversarial intrusions. Businesses can take advantage of cybersecurity services to ward off any kind of attacks targeting their company.

5. Combating Cyberattacks

The second part of this small business cybersecurity guide highlights simple and practical ways your company can use to avert cyber hoodlums.  Pay attention to the following tips to improve the security of your enterprise.

  • Create an IT Security Policy

To prevent social engineering, phishing, and other attacks, design a security policy for your business to form the basis for securing your hardware and software infrastructure. Having robust privacy and data security policy in building a framework for eliminating cybersecurity risks for business.

  • Risk Assessment

Your type of business determines IT vulnerabilities criminals can easily exploit. You can solicit cybersecurity services for small businesses to undertake a risk assessment if you don’t have an internal IT team who can do the job.

  • Staff Training

Employing the right technology, installing the right infrastructure, and frequently monitoring the most vulnerable areas is of course important, but training your employees is vital. Since most of the cybersecurity risks for businesses originate from the insiders’ lack of information and awareness, it is pivotal to train your team on how to conduct themselves online and offline to ward off attacks.

  • Software Upgrades and Updates

In most cases, you can keep hackers at bay by constantly upgrading your IT hardware systems and updating software components. Automated product updates are among the top cybersecurity services for small businesses provided by the vendor.  Vendors can also recommend hardware systems that are less vulnerable to security threats.

Protecting your business from cyberattacks should be one of your top priorities. If you have not begun to create security measures, or your current measures are not sufficient, you can utilize cybersecurity services for small businesses to reinforce your security systems.  

You can rely on offshore software development vendors to create salient security policies, secure IT infrastructure, update your tools, and perform regular assessments to seal loopholes hackers might compromise.  At Israel IT, we provide software development reliable and versatile services for small and medium-sized businesses across the globe. Contact us today for 24/7 support. 

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