The global phenomenon of cybercrime is emerging. And the soft targets in this regard are the small and medium-sized business enterprises. Day after day, while a few cyberattacks on big corporations capture the headlines in the news, many SMBs experience similar attacks, but these never gain much attention. However, the damage inflicted on them can be just as debilitating as those affecting the large corporations.
Actually, SMBs are so vulnerable to cyber attacks for several reasons. For instance, most SMBs cannot afford to pay for professional and effective cybersecurity solutions. As compared to large businesses that budget millions of money for cybersecurity, SMBs only spend a small amount on the protection systems hence becoming easy targets. Small businesses usually have just a few IT staff who are not as skilled in dealing with the sophisticated nature of contemporary cybersecurity threats.
Another reason is that most SMB owners do not treat cybersecurity issues seriously enough. Cybersecurity is rarely on their priority list, and owners give more attention to ready operational issues rather than long-term digital security. In this area of complacency, the wide open window to many cyber threats, including phishing attacks, malware, and ransomware attacks, counts in favour of SMBs.
Cyber Threats Amongst SMBs
Among other problems facing SMBs is ransomware. Attackers of ransomware attack by locking or exfiltrating the company’s valuable
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