Why Ransomware Attack Threats Target Small and Medium Size Businesses


Why Ransomware Attack Threats Target Small and Medium Size Businesses

This entry was posted on by Author: Yeniffer Padrino.
codes targeting a group of small company employees

It’s hard to know why some criminals act the way they act, but in most of the cases, it comes down to a couple of things: Money and (maybe) the need to destroy, some others have the drive to do something wrong just because they can. There is no difference between this and the internet. The web provides nearly unlimited access to people’s money, possessions and lives, this is a signal too alluring for criminals to resist.

To battle the increasing amount of threats, big corporations and organizations build their internal IT departments with a considerable amount of staff and utilize the latest in cutting-edge technologies; this is the main reason why cyber criminals target medium and small companies more and more.

Symantec’s Internet Security Threat Report 2016 states that small and medium size businesses make up the lion’s share since they are the target of nearly 50% of all cyber-attacks. The study says that about one (1) in forty (40) small businesses are at risk of being victims of Ransomware, much less than the number of large companies and organizations.

Chart of Cyber Attacks in 2016

The revealing study shows the constant rise in small and medium business attacks over the past six years, growing from 18% to 43% between 2011 and 2015. Another report, by Keeper Security, outlines a dimmer picture. According to their statistics, at least 50% of small businesses have encountered some form of cyber-crime in the past 12 months.

There are innumerable reasons why cyber criminals target small and medium businesses, but there are a few important reasons in particular that business owners should be aware of. We have shortlisted, in the infographic below, the top reasons why cyber threats are targeting small and medium businesses.

Infographic of ransomware

Ransomware is increasingly becoming a universal security threat, with around 40% of businesses encountering a cyber-attack. Companies must plan different scenarios and put safety measures in place; it might sound expensive and onerous but will always be cheaper than paying a ransom. Even in the absence of an attack, no taking precautions can damage your business. You can start with a free cyber security assessment, to know where your company is at this point harness your own abilities to adapt and innovate to be better prepared for the next attacks.

The bottom line, if you have an online presence, you are a target! Don’t take any chances, give us a call!

 

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Author: Yeniffer Padrino on EmailAuthor: Yeniffer Padrino on Linkedin
Author: Yeniffer Padrino
Author: Yeniffer Padrino
Digital Marketing Manager at MBC Managed IT
For more information call us at: 905.307.4357 or fill out our contact form and we’ll reach out to you.

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