Cyber threats are a hot topic right now and recent statistics have revealed that more small companies are worried about the risk of cyber threats and what they could mean for the future of their business than Brexit.
In response to cybersecurity fears, SMEs are planning to up their spend on firewalls, security software and other defences to more than £3.8bn over the next 12 months, but just how much of a concern should cyber threats be to SMEs and what are the most prevalent areas that you should be worried about?
Internal attacks
For SME owners that are just starting out and lack experience, it might come as a surprise to learn that one of the biggest threats that you are facing isn’t something remote and intangible, it actually comes from within your company. Rogue employees who have access to networks, sensitive data and admin accounts can cause real damage to your company.
To reduce the risk of these types of threats, SMEs need to identify privileged accounts, which are able to effect of access internal systems.
Phishing
Phishing is one of the most common type of cyber threats and is something that affects businesses every single day. Phishing is a fraudulent practice that involves the sending of emails to companies purporting to be a reputable company in order to encourage individuals to reveal personal information, such as passwords and credit card numbers.
To protect against the dangers of this, ensure that you and your employees are aware of how to spot a phishing email. The message will often contain a mismatched URL and a misleading domain name.
A general lack of knowledge about cybersecurity
The thing about cyber threats is, the less you and your employees know about them, the more of a threat they become. The best way to tackle them is to ensure that as a company, you stay well informed and in the loop.
If you have a dedicated IT team, consider up-skilling certain members in incident handling through training programmes.
The risk of cyber threats to small businesses can be significant, and statistics have revealed that two thirds of small UK firms were attacked by hackers between 2014-2016.
To manage this threat well you need to stay well informed and ensure that your employees are acting in a conscious way.