Cyber Attacks on Small Businesses: Review of the National Federation of Independent Business Webinar

The NFIB hosted a seminar on the disturbing issue of cyber attacks against small businesses. The webinar covered why and how fraudsters target small businesses, what to do to avert attacks and how to respond in case of a breach. This is a review of what was discussed.

Most small businesses don’t see themselves as a potential target for hackers so they don’t take appropriate cyber security measures, only 33% have the tech to prevent cyber attacks. And this is exactly why cybercriminals are after small businesses.  Of all cyber crimes, 43% target small to medium businesses. Over the past 12 months, 55% of companies were attacked whereas 50% experienced data breaches.

Where attacks come from

Cyber criminals can access your date either online or offline. They use a range of tactics including stealing or penetrating through weak passwords, phishing emails, social engineering and physical breaches (i.e. stolen physical documents, laptops, etc.)

While 75% of these attacks begin from outsiders, a scandalous 25% start from internal sources. Domestic attacks begin when staffs accidentally send an email with confidential data to a wrong person, or lose a drive with private company data. In the worst cases, workers act out of malice.

To avoid the above cases, you need to take measures like;

  • Regularly updating your premium software
  • Safeguarding you’re sensitive data.
  • Using two-factor authorization
  • Regularly backing up company data
  • Installing and updating antivirus software
  • Using very strong passwords and frequently updating them

And since everyone is a target all the time, you want to be prepared. Here are other preventive measures.

  1. Evaluate your data protection software and check if you need to upgrade.
  2. Identify all your confidential data, its storage place and the risks involved in case of a breach.
  3. Have a detection system and have it tested after every six months.
  4. Plan a data breach response.
  5. Plan how to recover from a breach to make sure you uphold your company’s reputation.

Wrapping Up

One cyber attack could cost you months or years of hard work. For that reason, you should invest in precautionary measures even if you have to seek for cash advances from financial institutions.

Author BIO

Business Funding expert, Nathan Hale, founded First American Merchant with his eyes set on helping the backbone of our country, small business owners. His passions include writing/producing music, and travel. First American Merchant is America’s Best Cash Advances Company, serving both traditional and high-risk Businesses.