Getting Ahead of Cybercriminals: 5 Essential Cybersecurity Practices

Ransomware attacks that hold large, prominent companies’ networks “hostage” pending multi-million-dollar ransom payments make for attention-grabbing media coverage. We’re much less likely to hear news stories about cyberattacks on small and medium-sized businesses (SMBs), which might give you the impression that smaller businesses are less likely to be victimized by cybercriminals. “Did you know, however, that 43% of cyberattacks target SMBs¹?

This may come as a shock, as the resources of smaller businesses are dwarfed by those of large companies. Although you might assume this would make SMBs less attractive targets for cybercrime, consider the following²:

• SMBs often have less sophisticated security practices, making them easier targets for cybercriminals.
• Lack of cybersecurity knowledge within SMBs may result in failure to recognize that a security breach has occurred, giving criminals ample opportunity to obtain sensitive information.
• SMBs are less likely to report cybersecurity breaches to law enforcement, making them less risky targets for cybercriminals.

If you’re finding the prospect of staying ahead of cybercriminals overwhelming, you’re in good company: 88% of SMB leaders view their businesses as vulnerable to cybercrime³. However, many of these leaders share that they don’t know quite where to start to protect their businesses.

The first step in cultivating a security strategy is to understand your sources of risk. The following is a list of five essential cybersecurity practices, along with descriptions of the underlying risks they address:1