Home Hacking How a small business should respond to a hack

How a small business should respond to a hack

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Hacks and data breaches are, unfortunately, part of doing business today. Ten years ago, it was the largest corporations that were most targeted by hackers, but that has changed. As large organizations have improved their cybersecurity, and more and more small businesses go online, hackers have shifted their attention to smaller targets.

The threat

Putting numbers on the scale of cybercrime is difficult, not least because many companies are resistant to acknowledging that they’ve been hacked. A huge study from 2010, though, conducted by Verizon working in conjunction with the US Secret Service, found that even then smaller businesses were under huge threat from cybercriminals: over 60% of the data breaches covered in that report were from businesses with less than 100 employees.

Since then, new types of cyberattack have emerged, many of them designed to be deployed against smaller businesses who cannot afford sophisticated network security infrastructure. These new attacks add to a threat profile that still includes attacks that have been common for years, including email and phishing scams that specifically target the employees of small businesses.

The consequences of a cyberattack on a small business can be catastrophic. Large companies can typically absorb the fines and reputational damage done by a data leak, but smaller businesses cannot. The National Cyber Security Alliance has recently released statistics that show 20% of small businesses experience such an attack every year, and that 60% of these businesses were forced to close within 6 months of being hacked. 

Preparation is key

If your business gets hacked, what is the best way to respond?

Well, in truth, if you are asking that question just after a hack, it’s too late. The key to avoiding attacks is to take preventative measures before they happen, and also to make sure that your response – should the worst occur – is also prepared.

Copyright © 2019 IDG Communications, Inc.

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