Cybersecurity risks are a major threat to businesses of all sizes, but small and medium-sized enterprises can be particularly vulnerable. This is because SMEs often lack the resources and expertise to implement and maintain effective cybersecurity measures.
Potential cybersecurity risks can be:
- Web-based attacks: Web-based attacks leverage browsers and their extensions, websites, and components of web-based applications to harvest credentials or confidential data. SMEs should ensure that websites are built securely and with cybersecurity in mind to prevent this kind of attack.
- Ransomware: Ransomware is a particularly devastating kind of cyberattack, involving theft of files and a subsequent ransom demand. SMEs are a particular target for these kinds of attacks as they are less likely to have the resources to pay the ransom or the expertise to recover their data.
- Credential stuffing: Credential stuffing is where an attacker uses a stolen or guessed password to access confidential systems. SMEs are a particular target for these kinds of attacks as they are less likely to have stringent password policies or use multi-factor authentication.
- Trojans: A trojan is a malicious program that disguises itself as a legitimate program. Once installed on a computer, a trojan can steal data, install other malware, or disrupt computer operations. SMEs are a particular target for trojans as they are less likely to have the security measures in place to detect and prevent these attacks.
According to a recent report by Vodafone, only 18% of SMEs have all of the necessary cybersecurity measures in place. Some of the reasons why SMEs may not be taking cybersecurity seriously enough include:
- Lack of awareness: Many SMEs are simply not aware of the cybersecurity risks that they face.
- Lack of resources: SMEs may lack the financial resources and expertise to implement and maintain effective cybersecurity measures.
- Complacency: Some SMEs may believe that they are too small to be a target for cyberattacks.
What Can SMEs Do to Improve Their Cyber Security?
There are a number of steps that SMEs can take to improve their cybersecurity, including:
- Educate staff: Staff should be educated about the cybersecurity risks that they face and how to protect themselves and the business.
- Implement security policies and procedures: Businesses should have clear security policies and procedures in place, and staff should be trained on how to follow them.
- Use strong passwords and multi-factor authentication: All staff should use strong passwords and multi-factor authentication to protect their accounts.
- Keep software up to date: Software should be kept up to date with the latest security patches.
- Make sure your devices and connectivity are secure: Working with a communications partner to improve cybersecurity provides businesses expertise, customisation, scalability and support. Trinsic Limited helps businesses develop secure solutions tailored to their business.