High-profile cyber-attacks on big corporations make headlines, but the most devastating attacks are those few people know happened.

Perhaps that’s why attackers are so eager to target small and medium-sized accounting practices. Malicious hackers know that many of these businesses can’t regularly train staff on the latest attack trends; they also know it’s extremely unlikely that a 15-person firm would have a member dedicated to monitoring cyber-threats.

So, they go for the path of least resistance.

And if you’re thinking “this won’t happen to me or my business,” here’s an important quote to keep in mind:

“There are two types of businesses in America–those that have had a data breach, and those that just don’t know they have.”

Anonymous

Keep reading for some ~spooky~ statistics about the security risks facing small to mid-sized businesses today, how big of an impact one breach can have on a business’s bottom line, and our recommendation for how to protect your firm’s data (and reputation) in as little as 24 hours.

 

Attackers prefer small targets.

50% of all cyber-attacks are committed against small businesses.

58% of malware victims are small businesses.

Owners of small businesses are more likely to pay ransoms to perpetrators of ransomware attacks than leaders of larger businesses are.

 

Limited resources make small businesses vulnerable.

The biggest challenge for 55% of small businesses in developing a cybersecurity plan is a lack of resources and knowledge. And 47% say they have no understanding of how to protect their companies against cyber-attacks.

72% said that malware (files that launch attacks) had slipped past their systems for intrusion detection.

And the average time businesses detect a cyber-intrusion is 146 days.

 

Cyber-attacks frequently close small businesses.

40% of small-business attack victims experienced more than 8 hours of downtime.

The Better Business Bureau estimates that only 35% of small businesses could continue to operate profitably for three months or longer if they permanently lost data due to an attack.

6 in 10 companies that suffer a cyber-attack are out of business within six months.

 

How to get bank-level security on a small business budget.

The first and most effective measure for securing your sensitive, business-critical data is to start utilizing the cloud.

Right Networks suite of cloud solutions make applications, software, and data accessible in real-time from any device—plus, we’ve equipped it to recognize and neutralize cyber-threats.

You can read more about our security measures in our recent blog post: How much should you really know about cybersecurity?

Don’t let these spooky stats keep you up tonight. Schedule an appointment to learn more about the security benefits that our cloud solutions can provide to your firm, today.

 


Sources

  1. https://www.entrepreneur.com/article/301193
  2. https://blog.alertlogic.com/5-cybersecurity-statistics-every-small-business-should-know-in-2018/
  3. https://www.cisco.com/c/dam/en/us/products/collateral/security/small-mighty-threat.pdf
  4. https://www.bbb.org/globalassets/shared/media/state-of-cybersecurity/updates/cybersecurity_final-lowres.pdf
  5. https://www.keepersecurity.com/assets/pdf/Keeper-2018-Ponemon-Report.pdf
  6. https://www.keepersecurity.com/assets/pdf/Keeper-2018-Ponemon-Report.pdf
  7. https://www.fireeye.com/company/press-releases/2016/fireeye-releases-first-mandiant-mtrends-emea-report.html
  8. https://www.cisco.com/c/dam/en/us/products/collateral/security/small-mighty-threat.pdf
  9. https://www.bbb.org/globalassets/shared/media/state-of-cybersecurity/updates/cybersecurity_final-lowres.pdf
  10. https://www.denverpost.com/2016/10/23/small-companies-cyber-attack-out-of-business/

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