Once upon a time, the information security was considered an option for big enterprises and it was held that there is nothing for small and medium businesses (SMB) to worry about cyber attacks as cybercriminals are not interested in them.
Today no business is immune to information security threats and over the period of time, the cyber-attacks targeting SMBs has increased manifolds. With the aggressive adoption of latest technology trends like interconnected workforce, BYOD, virtualized working environment and work-away-from office by SMBs make them an easy target for cyber-attacks.
As SMBs have dissimilar characteristics hence the IT companies, over the years, developed information security solutions, services, methods and frameworks keeping big enterprises in perspective and the same are not feasible to be applied in the context of SMBs because of high cost and requirement of skilled resources to manage the same.
Moreover, because of distinct characteristics, the priorities of SMB are totally different from the large enterprises hence information security threat is often overlooked by SMBs as a serious business risk.
The majority of SMBs ignore the dangers posed by a cyber-attack as small businesses have very less information security mechanisms due to lack of financial and human resources. Though SMBs would be able to save some money in the short term by avoiding implementation of information security mechanism but in the case of a security breach, the cost of attack could be much more than the short term gain. The cyber-attack can cause reputation damage, loss of customer data, regulatory issues and, maybe worst, business closure
Major information security threats to SMBs include:
- Cloud Security Risk: Cloud has become most adopted technology solution by SMBs as it gives flexibility and cost effectiveness. But it can far-reaching business impact if they do not choose professional, reliable service providers who have taken strong security measures to protect sensitive data on the cloud.
- Ransomware – A malicious software, usually received via a phishing email, encrypts data on the network, and the ransom is asked by the attacker to provide the decryption key.
- Hack Attack – When hacker enters into the company’s network and get access to the company data.
- Denial of Service – In this attack the cyber-criminal brings down the servers, systems or networks by flooding it with useless traffic users and requests by legitimate users is not processed
- CXO fraud – When cybercriminal get access to email of senior company officer, either by hacking or “spoofing” their email accounts and sends out messages to share some information or make a payment
At Core IT we understand the importance of information security for small businesses. Our team of highly skilled information security professionals assists SMBs to keep their information secured by implementing right set of security mechanisms, a framework of best practice and standards.