The recent Cisco Cybersecurity Special Report for small and mid-market businesses offers insights in security practices currently in use, exposing critical vulnerabilities in their approach to cybersecurity.
In the past 5 years small and midsize businesses have increasingly become a target for cybercriminals. Adversaries see these businesses as an easy target and often use them as a launch pad for larger campaigns, as they tend to have less sophisticated security measures and an inadequate trained security personnel to manage and respond to threats. The report gives an understanding of the risks smaller organizations face and shares some guidance to bear in mind for 2019.
The dynamic nature of an SMB, not only makes them attractive to cyber attacks but also forces them to think of ways to protect their business and recover faster from attacks. A study by the Better Business Bureau (BBB)2 shows the financial impact SMBs face after a severe attack. The BBB asked business in North America, "How long could your business remain profitable if you permanently lost access to essential data?" 35% said that they could remain profitable for more than three months, but more than half reported that they would be unprofitable in under one month.
What should you consider when building your cybersecurity plan?
Consider the three main challenges business like yours face:
- Targeted attacks against employees (well-crafted phishing)
- Advanced persistent Threats (Advanced malware the world hasn't seen before)
These can create severe disruption and in many cases prolonged downtime that can be critical not only to business operations but also survival.
Additional Threats you Should Consider
The report also covers new emerging threats such as cryptomining and the various methods of attack via email-spam campaigns and exploit kits. For small/midmarket businesses unwittingly aiding illicit cryptomining operations, slower system performance might be the only red flag signaling they've been compromised-unless they have the right technology in place to detect when cryptomining activity is present.
The ever-evolving threat landscape forces you to understand the core components of a cybersecurity strategy as an integrated layered approach, rather than a silo solution that addresses a specific threat.
What to do next?
After explaining some of the existing challenges and providing insights into how to address them, the Cisco Cybersecurity Special Report provides details into how organizations are currently addressing these and the results they've seen thus far.
It provides clear and concise recommendations falling in three categories: technology, people, and processes. From identifying the right set of technologies to creating a convergence in security processes that allow for better prevention, detection and remediation, as well as enticing tips to improve people behavior in pro of a security mindset.
Ready to know more?...
Download Cybersecurity Special Report for Small and Midsize Businesses!
How small and mid-market businesses can fortify their defense against today's threats.