Cyberattacks are increasing on SMB’s and the effect could be devastating
Cyberattacks are not an exception – SMB’s are just as much a target as large corporations.
A many recent headlines point out: “Hacks are affecting everyday life … cyberattacks on supply chains, governments and financial institutions are bad for not only those directly affected but also customers, suppliers and residents,” said a recent CNBC report, citing tax delays and canceled home sales among the “costly ripple effects” of poor cybersecurity hygiene.
Along that same note, a Kaspersky Lab report indicated that companies utilizing cloud services “still ignore security concerns – 9 in 10 cloud breaches occur due to employee mistakes.” And Dror Liwer, in his article for business.com, describes the peril of cyber complacency, suggesting cyber attacks on SMB’s could trigger a “trickle-up recession.”
A large cloud-based payroll software provider became a victim of a crushing ransomware attack earlier this year, taking down payroll services for hundreds of their customers over a 3 day period. Faced with the potential for an extended outage, provoked by a ransomware that encrypted their computer files and demanded payment for the digital key needed to unscramble the data. The provider paid the ransom and began restoring service. The attack’s reach was very effective, touching payroll services that procure to SMB’s nationwide.
Companies should never fall victim to this type of attack. Maintaining proper, regularly scheduled backups would defeat a ransomware attack. To restore services, all you would need to do is restore your systems from the last known good backup. Paying a ransom simply indulges the attackers and lets them know that their attacks are effective.
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