While cyberattacks on small and medium-sized businesses (SMBs) may not always make the headlines, they pose a severe threat, impacting the lives and work of countless professionals and the people they serve. These attacks often have more devastating consequences on SMBs since they typically lack the backup services and risk mitigation tools that larger corporations have in place.
According to the latest Acronis Cyberthreat Report, SMBs are facing existential risks, as cyberattacks on small businesses in 2021 have been severely amplified by “the rise of automated attacks and supply chain attacks targeting their IT service providers.”
There are numerous examples where hackers target SMBs because these businesses frequently rely on free cybersecurity tools designed for individual consumers rather than enterprises. This vulnerability exposes them to various forms of attacks that larger organizations, with more robust cybersecurity infrastructures, can detect and neutralize. The good news is that small businesses can adopt similar tools to those used by larger firms to protect their employees, leadership, clients, and sensitive data.
The Most Common Cyberattacks SMBs Are Vulnerable To
Some of the most prevalent cyberattacks on SMBs include malware, phishing, ransomware, and insider threats. In many cases, robust email security may be enough to fend off a significant portion of external attacks, especially those involving malicious links or content sent via email. However, certain email-based attacks, like phishing, can be more difficult to detect.
Whether driven by financial gain, corporate sabotage, or simply for the thrill, hackers often employ the following types of attacks:
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Viruses and Other Malware: Viruses spread from one computer to another and require user interaction to propagate, unlike worms, which can replicate and spread without user intervention. Viruses are just one form of a multitude of malware threats.
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Insider Threats: A disgruntled employee or someone with financial motives might exploit their access to sensitive areas of the network.
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Human Error: Simple mistakes, like not securing login credentials properly, can have disastrous consequences when hackers gain access.
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Ransomware: Ransomware attacks take control of a user’s system and demand a ransom to restore access.
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Phishing: Phishing attacks deceive users into revealing sensitive information, such as login credentials and payment details.
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Distributed Denial-of-Service (DDoS) Attacks: Hackers flood a server with millions of fake requests, rendering it unable to serve legitimate users.
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Botnets: These are automated tools consisting of numerous internet-connected devices that hackers can use to infiltrate systems.
Why SMBs Are High-Risk Targets for Cybersecurity Threats
SMBs are often targeted because, like large companies, they also hold valuable customer information and digital data. However, SMBs are more vulnerable since hackers are aware that they typically have fewer resources and tools to defend against sophisticated cyberattacks. This makes the impact of these attacks on SMBs particularly severe, as hackers continuously evolve their methods and become increasingly advanced.
Best Cybersecurity Practices for SMBs
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Conduct Security Assessments: Identify vulnerabilities within your network.
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Train Employees: Educate them on potential threats and their role in preventing and responding to them.
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Secure Remote Workers with VPNs: VPNs encrypt data, making it secure even on public networks.
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Use Antivirus Software and Keep It Updated: Regular updates ensure protection against the latest threats.
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Secure Your Network: Restrict access to sensitive data to authorized personnel only.
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Utilize Strong Passwords: Complex passwords help prevent unauthorized access.
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Implement Multi-Factor Authentication (MFA): Requiring multiple credentials adds an extra layer of security.
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Backup Data Regularly: Frequent backups enable swift recovery in the event of an attack.
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Enable Advanced Firewall Protections: Next-generation firewalls help ward off emerging threats.
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