The importance of proactive cybersecurity measures for small and medium-sized enterprises
Small and medium-sized enterprises (SMEs) often have the impression that they are not a target for cybercriminals. However, the reality is that SMEs are just as sensitive to cyberattacks as larger companies. According to an Accenture study on cybercrime, nearly 43% of attacks target small and medium-sized enterprises, while only 14% of these SMEs are ready to deal with such an attack.
Factors that continue to make smaller businesses attractive targets for cybercriminals include easier access due to weaker protection measures compared to large businesses, as well as the opportunity to receive smaller amounts of money from many small or medium-sized businesses, without particularly attracting the attention of the media and competent authorities, as is usually the case with attacks on larger companies.
In particular, social engineering attacks such as phishing, baiting, quid pro quo, or tailgating, which rely on human interaction and psychology to override security measures, are particularly popular with small and medium-sized enterprises. According to statistics, businesses with fewer than 100 employees receive 350% more threats than larger companies. CEOs and CFOs are popular targets, as are key employees with access to the accounts of the company’s top executives. Also, according to statistics, 55% of businesses that receive ransomware attacks employ fewer than 100 employees, while 82% are fewer than 1000.
The detrimental effects of a cyberattack are many and affect a business’s finances, customer relationships, and reputation. For example, the period of suspension of operations due to an attack on a company’s systems can cost both revenue and the credibility of the business toward customers. The costs incurred by an attack are not limited to the incident itself but may include system restoration costs, ransom, legal and regulatory fines, and lawsuits related to a data breach, which if added up constitute an amount that many businesses cannot cover. Furthermore, the loss of critical data can have far-reaching negative consequences for compromised businesses. The loss of sensitive customer data, such as credit card information, social security numbers, phone numbers, or home addresses, can lead to customer lawsuits, and consequently reputational loss with far-reaching financial implications.
One of the biggest misconceptions among the media is that their current security measures are enough to protect them from cyber threats. This is simply not the case. Basic security measures, such as having a firewall and antivirus software, are no longer sufficient to protect against today’s advanced cyber threats. As technology continues to evolve, so do the methods that cybercriminals use to gain access to sensitive information.
Another misconception is that the cost of implementing cybersecurity measures is too high for SMEs. While it is true that some cybersecurity solutions can be costly, there are also cost-effective solutions that can provide SMEs with the protection they need. Furthermore, the cost of a cyber attack can be significantly higher than the cost of implementing cybersecurity measures.
Proactive cybersecurity measures are essential for SMEs to protect their customers’ systems, sensitive information, and data. Our company can offer you a variety of services and solutions that can help your business stay safe in today’s digital landscape. MDR provides a comprehensive and accessible approach to threat detection and remediation with 24×7 monitoring and investigations by qualified security analysts. Your business will gain true cybersecurity with specialized services that accelerate threat detection and response to incidents with immediacy.
In addition, we act as our customer’s trusted partner, providing advanced expertise in the current threat landscape. Whether you need support to resolve incidents, monitor your 24×7 network security, vCISO services, or penetration testing your infrastructure, we provide you with comprehensive cybersecurity solutions and services within the framework of your needs and the size of your business, to be one step ahead in an environment of ever-changing cyber threats.
