61% of the data breach victims in this year’s report are businesses with under 1,000 employees. Hackers are smart, and sophisticated, but they’re also often looking for something quick and easy. Small and medium businesses who believe they are not at risk, tend not to invest as much in cybersecurity; thus, making them an easier target.
No one is exempt from cybercrime, and the more you do now to educate and defend, the better prepared you will be if something does happen.
It might feel like you’re not in a financial position to invest in cybersecurity yet – especially if you believe your business is too small to attract the attention of hackers. Think about the huge cost implications of a breach. There’s loss of business due to reputational damage, legal fees, loss of competitive edge, and so much more at stake.
Cybersecurity Ventures predicts $1 trillion will be spent globally on cybersecurity from 2017 to 20212. Ensure you’re a part of that investment, so you don’t get left behind.
It’s true that customers need robust technology systems and tools to be prepared against cybercrime, but it’s also critically important to focus on education. If employees are properly trained to detect a scam or raise a suspicion, that can prevent an attack before the malware is even in the system.
Employees who have data handling compliance training, who understand the processes for implementing security measures, and who help enforce the company policy, all contribute dramatically to prevention. Train your staff to identify cybersecurity threats and handle sensitive information appropriately, to reduce the risk of cybersecurity breaches.