If you are one of the tens of millions of small and mid-size businesses in America, you are at the greatest risk for a cyberattack.
Fairness aside, this is a reality and the statistics are sobering. Seventy-eight (78%) percent of U.S. organizations have been victims of attacks and that only represents those who have reported such incidents.
Anyone doing business has either experienced a cyberattack in the past or knows someone that has. Many billions of data records are stolen each year, with ransomware payments also reaching into billions of dollars. In the healthcare industry alone, the number of data breaches rose 71% between 2019 and 2020.
In short, cyberwarfare has become a widespread corporate epidemic that is capable of bringing a company to its knees. The good news is that business owners can defend themselves with a shield of impenetrable protection.
Reasons for the rapid increase in successful cyber attacks
One might suggest that it simply has to do with more “bad guys” lurking in cyberspace and while this may be true, the actual reason for the increase in cyberattacks and the effectiveness of the sabotage is that business owners aren’t doing much to prevent it. In football terms, they just aren’t playing defense.
It makes sense that business owners are more concerned with operating their companies, doing all the things that generate revenues, keep people employed and paying the bills, than they are spending time thinking about data breaches.
Fighting back against cyber terrorism just doesn’t fit into their busy agenda. It also may not fit into their budget.
Making matters worse are the ever-increasing compliance regulations that are not only daunting, but are also constantly changing. As one recent cybersecurity report pointed out, it would be near impossible for the average business owner to understand all of the regulations and laws that affect them.
Meanwhile the hackers are working full-time – afterall it is their job – and their techniques and the types of attacks are becoming more and more sophisticated. They range from simple Phishing and password attacks to more devious efforts such as man-in-the-middle (MitM) tactics, which is a common form of altering communication through snooping. The list of attacks goes on and on.
Another reason most businesses are falling behind in complying with security best practices and protecting themselves from cyber warfare is their sole reliance on their IT departments. Well-meaning as their technology officers may be, in most cases they don’t have the knowledge or training necessary to protect their organizations from attacks. It is important to note that regulatory “compliance” is far different than up-to-date, tested “protection.”
As many cybersecurity consultants agree, complying and understanding data protection and disclosure laws is only the beginning in combating cybercrime and sustaining an organization’s competitive edge.
Therefore, cybersecurity needs to be seen by CEOs as a key strategic effort of the entire company, rather than just a tactical effort by a few. Too often it’s just the responsibility of their security officer (assuming they even have one) rather than establishing a cybersecurity culture through ongoing communication, education and training of their employees.
This is not unlike what has happened in successfully dealing with other workplace issues. That is why human resource departments are forever educating their employees on issues that if left unchecked, could erode the integrity and cohesiveness of a company’s culture.
Though less public-facing and sensational, wholesale data breaches can be even more damaging to an enterprise with penalties ranging from stiff fines to something even more painful: the death of a business.
Yet this needn’t be the risk.
Pretty Fluid Technologies has a team of seasoned professionals that work in tandem with your IT department to meet and exceed compliance standards and protect your company with one-stop security solutions without disrupting business forecasts and profitability.