When one thinks of cybersecurity attacks in the corporate world, they would automatically begin thinking of large-scale attacks on large corporations, as those are the ones most frequently reported by the media, while in actuality the majority of attacks occur on small-to-midsize business (SMBs), as they do not take their cybersecurity seriously because they don’t think that they will be targeted.
The major issue at play here is that these SMBs believe that due to their insignificance in the corporate world, they will not be targeted and therefore do not give much thought to their defenses. Consequently, this makes them as vulnerable or if not more than large corporations, and it has become a very unfortunate and recurring problem in society that should be easily avoided. According to Norman Guadagno of the online backup company Carbonite, “a single data hack could have associated costs ranging from $82,200 to $256,000”, moreover this is an issue that is definitely a menace to the economy as well.
As previously stated, these attacks are easily avoidable, providing the companies being targeted give more thought to their technological vulnerabilities. The majority of these attacks are different forms of malware, namely ransomware, that are being downloaded via social engineering. With simple employee information sessions on cybersecurity, frequent security testing, and execution of crucial security practices, these attacks could easily be one less issue for these businesses to think about.