Recently I found some frightening Cyber Security Statistics from Small Business Trends* (updated August 2019):
- 43% of cyber attacks target small business.
- 60% of small companies go out of business within six months of a cyber attack.
- Only 14% of small businesses rate their ability to mitigate cyber risks, vulnerabilities, and attacks as highly effective.
I’m sure that you, like me, are inundated with daily cyber breach, ransom, and phishing warnings. There’s plenty of fear, mystery, and jargon … and it soon becomes overwhelming. So much so, that it’s easier to delete and tell ourselves it won’t happen to us.
Yet experts all agree – it’s not if, but when a cyber attack will occur.
How bad is the problem?
The stories are everywhere –
- Emails to employees with fake links to gain access to data
- Liability for identity theft and the costs to rectify employee and customer credit files
- Untimely or bungled IT updates or patches – making you negligent
- Working from home or employee laptops that can be easily hacked
It goes on and on.
How ‘bout some solutions?
Prevention is the obvious answer – and it is effective in many instances. Mitigation, or reducing the impact of a breach, is also essential, and we must have plans in advance.
Here are some examples of things to do:
- Make sure you or your IT service provider accomplishes updates and patches immediately or automatically, and documents each task. Make sure you have a real professional IT provider – this is not the place to try to save money.
- Get rid of old archived data that is no longer valid – create and follow a Document Retention/Destruction Plan so you don’t have ancient data or paper files that can hurt you.
- Insist on strong password for all users – use a password manager to create and remember random, long passwords.
- Implement multi-factor authentication for as many sites as possible – especially bank and other financial accounts.
- Backup to a reputable cloud server so you have an alternative way to work and find your data in the event of a ransom-ward hack.
- Consider Cyber Breach insurance, and create a Breach Response Plan so you are ready to respond to serious problem.
If you have questions or more complex circumstances, don’t hesitate to click reply, or give me a call – email@example.com | 510-685-3883. There’s never a charge for brainstorming!