Reasons behind the increasing cyber threats that make small enterprises susceptible to ransomware

The potent narrative short film “Butterfly” by Dark Matter, inspired by authentic incidents, delves into the journey of a small business plunged into chaos by ransomware.

This tale resonates with a mounting number of small ventures – 50% encountered some sort of cyber breach or assault in the past year.

However, not all are eager to disclose their ordeal or disclose being under attack. This perpetuates the misconception that small businesses don’t require the same level of safeguarding as larger enterprises.

Small enterprises – a decade ago – were less appealing targets, explains Jake North, overseeing Consumer & Small Business Security Software at Dell Technologies. Attackers lacked the advanced tools then and undervalued small businesses’ data.

Now, the scenario has shifted, and the issue amplifies as Small and Medium-sized Businesses (SMBs), with restricted IT resources, often lack awareness and readiness against assaults.

Steve Furnell, a Cybersecurity Professor at the University of Nottingham, mentions, “Large firms tend to report more incidents not just due to their size but due to heightened detection capabilities.”

Present-day cybercriminal groups are not selectively aiming at specific market sectors but are spreading widely, scouring for vulnerabilities through email phishing and compromised platforms.

Martin Pivetta, the Small Business Product Management Director at McAfee, acknowledges the drastic evolution in the IT threat panorama. He compares the cybercrime business to the drug crime sector, highlighting its anonymity and professionalism.

This predicament corners small businesses, even if they seem less lucrative targets compared to big corporations.

Furnell accentuates, “Harnessing multiple small businesses collectively can yield substantial gains with lesser resistance.”

So, what steps can small businesses take?

Pivetta advises heightening employee awareness regarding scams and basic security measures. “Basic training resources are abundant online and on McAfee’s website.”

Moreover, businesses should ensure comprehensive protection across all facets – devices, mobile devices, and personnel.

This action need not be daunting or costly.

North reinforces that small businesses do not have to spend extravagantly to mitigate pervasive risks. He endorses McAfee Business Protection, an automated security suite accessible through Dell on business PCs, assisting businesses in fortifying their defenses swiftly.

By leveraging McAfee’s guidance, businesses can maintain their core focus without compromising on security. McAfee aids in advising, assisting in execution, and monitoring compliance with policies, ensuring prompt notifications if risky actions are detected.

For more insights, view the captivating film “Butterfly” or delve deeper into McAfee Business Protection.

About Author

AndyC

Andy Curtis is an award-winning security consultant, researcher and public speaker. He has been working in the computer security industry since the early 1990s, having been employed by state and federal government, leading healthcare and banking providers across three continents. He has given talks about computer security for some of the world’s largest companies, worked with law enforcement agencies on investigations into hacking groups, and is a regular voice on TV and radio explaining IT security threats.

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