The problem therefore doesn’t appear to be that the threat is unknown, but rather that there is a general lack of everything needed to defend against the threats: ample budgets, knowledgeable personnel, a suitable defence strategy, and IT security infrastructure.
Lacking these elements makes SMBs an easier potential target than larger organisations which usually have better resources. In addition, cybercriminals also like to use SMBs to gain access to the larger organisations that they are trusted to work with.
To make matters worse, it is not only preventing attacks that can be more difficult for SMBs, they may also find it more difficult to handle a successful attack due to their lack of resources: This includes reputation management, dealing with regulators (and the need to know if, when, and how to report an incident), along with how to effectively communicate issues with customers, partners, and suppliers etc.
When you consider these points, it is easy to see
how SMBs can have a hard time dealing with the consequences of cyber attacks such as lost customer trust, reputational damage, and financial losses.
Security threats for SMBs
A common approach used by cybercriminals in an SMB cyber attack is exploiting any vulnerabilities within your systems, such as software that lacks security updates. Cybercriminals then use these vulnerabilities to attack your IT systems using different methods and technologies. These include viruses that can covertly take control of your systems, spy on your sensitive data and activities, or enable the criminals to steal money or resources from you. Often associated with this is the demand for a ransom in order for you to get your data back or for your blocked IT systems to be operational again.
A very common form of cyber attack is social engineering. Here, human characteristics such as trust or respect are exploited. Cybercriminals pose as respected or authoritative parties in order to obtain sensitive information through your employees.
Careless internal practises can also easily put sensitive information into the hands of unauthorised people, such as the use of easily guessed passwords or notes/reminders used around the office which can easily be read or stolen.
Prevention is better than a cure
Whilst the array of potential cyberthreats can appear intimidating, understanding the basics of how cybercriminals behave, and your potential vulnerabilities is a good way to plan your defence efforts.
First, put the cybersecurity topic at the top of your agenda and make cybersecurity a boardroom agenda item, because not only can the consequences of a cyber attack affect the whole organisation, but there are also serious penalties under
NIS2 and
GDPR. Therefore, it is important that the senior team is immediately informed of any such attack and oversees defences and mitigation. Also, have a plan in place for the worst-case scenario in case you become a victim of an attack.
Crucially though, unless you are an expert in cybersecurity yourself and know how to implement measures such as patch management, password management policy or multi-factor authentication, you will need to find a trusted professional IT security partner to be by your side. They will take care of the right measures to prevent a successful attack.
