Did you know that one in three small and medium-sized businesses (SMBs) in Ireland were victims of cybercrime between May 2021 and April 2022?. And the average payout to cybercriminals following a successful attack was a significant €22,773.
The three main cyber threats that they would often face are:
1.- Phishing Attacks: Phishing is one of the most common and effective cyber threats against small businesses. Where cybercriminals send fraudulent emails or messages that mimic legitimate sources to trick employees into revealing sensitive information such as passwords, credit card details, or other confidential business data. Phishing can also involve malicious attachments or links that, once clicked, can infect systems with malware.
2.- Ransomware: This type of malware locks and encrypts a victim’s data, then demands payment to restore access to it. Small businesses are often targeted because they may lack adequate backup systems and cybersecurity defences, making them more likely to pay the ransom to regain access to their critical data. Ransomware can cause significant operational disruptions and financial losses.
3.- Data Breaches: Small businesses may be seen as easy targets for data breaches because they often have less stringent security measures in place. A data breach can involve unauthorised access to the company’s data, leading to theft of personal, financial, or business information. The consequences of a data breach can be severe, affecting a company’s reputation, customer trust, and legal standing.
HOW CAN YOU PROTECT YOUR BUSINESS?
First of all, it’s crucial to be aware of these threats and to implement robust security measures to mitigate these risks.
Here we share 3 key activities to reduce the risk of cyberattack for your business.
Regular Security Awareness Training: This training should include how to recognise phishing emails based on their common characteristics, such as urgent language, unfamiliar sender addresses, or requests for sensitive information. You and your employees should also be trained to verify the authenticity of requests through separate communication channels before responding to emails that could potentially be malicious.
Useful tip: Any urgent financial transaction request or changes in bank accounts should be verified by phone.
Establish Robust Data Backup Procedures: Regularly back up all critical business data to multiple locations, such as an external hard drive and a cloud storage service that is not directly connected to the network systems. This ensures that in the event of a ransomware attack, the business can restore its data from backups without needing to pay the ransom, significantly reducing potential disruptions and losses.
Useful tip: Regularly update software to patch vulnerabilities and protect against ransomware attacks.
Utilise Strong, Multi-Factor Authentication: Multi-Factor Authentication (MFA) requires users to provide two or more verification factors to gain access to a network or system, which adds an additional layer of security beyond just a username and password. This can significantly deter cyber attackers by making it much harder to gain unauthorised access.
Useful tip: Google or Microsoft Authenticator are simple yet effective tools to prevent cyber breaches.
For further information, contact: PC Clinic Fermoy
4 Fitzgerald Place, Fermoy, Co. Cork, P61 NV38
(025) 42536
info@pcclinic.ie
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