Report: Small Businesses Easy Target for Cyber Security Attacks
Small Business Trends reports.
CNBC has released surveys showing the full extent of this threat. In 2021, the FBI’s Internet Crime Complaint Center received 847,376 complaints of cyberattacks. Of those affected the hardest, most were small businesses, suffering nearly $7 billion in losses.
Additionally, reports from cloud security company Barracuda revealed that small businesses experienced 350% more social engineering attacks than larger companies in 2021.
This danger has been noted by experts such as Joseph Steinberg, who specializes in cybersecurity and AI. He claims that small businesses are an easy target for criminals online, describing them as “low-hanging fruit.”
Trellix CEO Bryan Palma affirms this, acknowledging an increase in cybercrimes on platforms such as Instagram and YouTube and that criminals have successfully taken over accounts with over 50,000 followers.
Some claim that big tech companies such as Meta, owner of Facebook, are not doing enough to counteract this. Though Meta has committed to addressing malware and “threat actors,” Jen Easterly, director of the Cybersecurity and Infrastructure Security Agency, argues that tech companies must do more to make cyber security a priority.
Until regulations on Internet security address these problems, small businesses are encouraged to take steps to protect themselves: utilizing two-factor authentication, enlisting a business password manager, and maintaining stringent password policies and vigilance.
