Small and medium businesses (SMBs) are increasingly becoming targets for cyber attacks. In fact, according to a report by the National Cyber Security Alliance, 60% of small businesses go out of business within six months of a cyber attack. This is due to the fact that SMBs often have fewer resources and less experience in cybersecurity compared to larger companies. In addition, many SMBs have the misconception that they are not attractive targets for cybercriminals, which can lead to complacency and a lack of proper security measures. In this blog post, we will discuss the top 10 cybersecurity threats faced by SMBs and how to protect against them.

  1. Phishing Scams: Phishing scams are one of the most common cyber threats faced by SMBs. These scams typically involve an attacker sending an email or message that appears to be from a legitimate source, such as a bank or online retailer, asking for personal or financial information. To protect against phishing scams, it is important for employees to be educated on how to identify and report suspicious emails and messages.
  2. Ransomware: Ransomware is a type of malware that encrypts a victim’s files and demands a ransom payment in exchange for the decryption key. SMBs are particularly vulnerable to ransomware attacks, as they often have less robust backup and disaster recovery systems in place. To protect against ransomware, it is important to regularly backup important data and to have an incident response plan in place.
  3. Social Engineering: Social engineering is a tactic used by cybercriminals to trick individuals into revealing sensitive information or performing actions that they would not normally do. Social engineering attacks can take many forms, including phishing scams and pretexting (the act of creating a false identity to gain access to sensitive information). To protect against social engineering attacks, it is important for employees to be educated on how to identify and report suspicious activity.
  4. Malware: Malware is a broad term that refers to any software that is designed to cause harm to a computer system. Malware can take many forms, including viruses, worms, and Trojan horses. To protect against malware, it is important to keep all software and operating systems up-to-date and to use anti-virus and anti-malware software.
  5. Denial of Service (DoS) Attacks: DoS attacks are a type of cyber attack that is designed to make a website or online service unavailable. This is typically done by overwhelming the site with a large number of requests, which can cause the site to crash. To protect against DoS attacks, it is important to have a robust website hosting service and to use a web application firewall.
  6. SQL Injection: SQL Injection is a type of attack that takes advantage of vulnerabilities in a website’s database to gain unauthorized access to sensitive information. To protect against SQL injection, it is important to use parameterized queries, which can help prevent malicious data from being inserted into the database.
  7. Advanced Persistent Threats (APTs): APTs are a type of cyber attack that is designed to gain access to a network and remain undetected for an extended period of time. APTs are often used to steal sensitive information, such as trade secrets and financial data. To protect against APTs, it is important to use a next-generation firewall and to regularly monitor network activity for unusual patterns.
  8. Password Cracking: Password cracking is a type of attack that is designed to gain access to a network or system by guessing or cracking a password. To protect against password cracking, it is important to use strong, unique passwords and to regularly change them.
  9. Insider Threats: Insider threats are a significant cybersecurity risk for SMBs, and they can come from employees, contractors, and vendors. Insider threats can take many forms, including accidental data breaches, theft of sensitive information, and sabotage. To protect against insider threats, SMBs should use access controls, employee monitoring, and incident response planning.
  10. Cloud Security: Cloud security is a critical concern for SMBs as more and more data is stored in the cloud. Cloud security threats include unauthorized access, data breaches, and loss of data. To protect against cloud security threats, SMBs should use encryption, access controls, and incident response planning.

According to a recent study, 43% of cyberattacks target small businesses, and 60% of SMBs go out of business within six months of a cyber attack. This is due to the fact that SMBs often have fewer resources and less experience in cybersecurity compared to larger companies. In addition, many SMBs have the misconception that they are not attractive targets for cybercriminals, which can lead to complacency and a lack of proper security measures. With the increasing reliance on technology and the internet in today’s business world, it is more important than ever for SMBs to understand the top cybersecurity threats they face and take steps to protect against them.