Many small business owners have likely seen news in the past year or so that they are now at greater risk for suffering a data breach because of the ways in which hackers are now targeting them. Consequently, it may be wise for them to do all in their power to make sure they are not likewise affected.
While there are some hacking attacks that are unavoidable, putting in even minimal efforts to reduce risk can go a long way to ensuring companies and the sensitive customer or client data they protect are relatively safe from such incidents. The reason hackers often target these companies is that they tend to have far fewer security measures in place than their larger counterparts, so while the information they may be able to obtain from such an attack will come in far lesser volumes, the effort these criminals put into actually obtaining it may be minimal.
Today, it’s estimated that about 30 to 40 small and medium businesses are targeted by these attacks, according to a report from Reno, Nevada, television station KTVN. Of that number a large majority face resultant financial hits that can cripple or even bring down their companies altogether.
The kinds of attacks these hackers can perpetrate against small businesses in particular may vary, the report said. Some may send malware disguised as other types of files to employees, who then open them and infect an entire company’s computer systems. Others may try to use phishing attacks to gain access to workers’ login data for sensitive company accounts to bank or other such websites. Other data breaches can come as a result of employees storing company data on portable devices like smartphones or tablets, which are then stolen and used. However, putting as many safety protocols into place, such as encryption, password protection, and basic training, for instance, will likely limit the damage these attacks can wreak upon a company.
Owners worried about the high cost of remediating data breaches may want to take the time to look into small business insurance designed specifically help reduce their financial burdens in the wake of such an incident. Tech insurance can go a long way for independent enterprises, because the cost of dealing with such an incident can stretch into the hundreds of thousands of dollars or more, and that in turn can do irreparable damage to the company.