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Cyber Security for SME’S – Why are Cyber Criminals Targeting SME’s?

Date: 10th July 2019 | Post by: HaesCooper | Category: Company Director Information, Company Tax Updates & Information

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In addition to HMRC, the cyber criminals are also targeting SMEs in order to take their money. The National Cyber Security Centre (NCSC) has said that a SME has around a ‘one in two chance of experiencing a cyber security breach.

Cybercrime for SME’s – What’s the Risk?

Recent research by Chubb has indicated that ‘significantly more than half of all cyberattacks are directed at SME’s and that number is steadily increasing’.

It’s more apparent than ever that cybersecurity risks are exclusively challenging for small – medium sized businesses due to the occurrence with which these threats manifest into cybersecurity incidents.

The severe business disruption and financial impacts these incidents have, when, generally speaking, small/medium sized organisations have limited resources have at their disposal to respond, means that recovery from such incidents can take a long period of time, and can subsequently have detrimental impacts on a business.

Why Do Cyber Criminals Target SME’s?

Again, according to research carried out by Chubb, small businesses aren’t necessarily targeted by cyber criminals, but they are, however, usually more vulnerable to techniques that cyber criminals use. These techniques include the likes of phishing attacks, setting viruses on computers and ransomware.

It’s said that cyber criminals are more likely to use these hacking tactics on small businesses as they don’t believe small to medium sized organisations will have the resources in place to safeguard themselves and their data.

How Small Businesses Can Minimise the Risk

If you own/manage a SME, it’s worth you logging onto the NCSC website and downloading a copy of their booklet ‘Cyber Security-Small Business Guide’ as it contains full details on a 5 point plan for a SME to reduce the risk from a cyber security breach. The 5 points are primarily common sense but are certainly worth reading and making available to your staff. The 5 points are ‘headlined’ as below:

  1. Back Up Data-includes using iCloud.
  2. Protect from Malware-includes using and updating your antivirus software.
  3. Keep your Smart Phones (Tablets) safe-includes keep passwords/Apps up to date.
  4. Using passwords to protect data-includes secure storage of passwords for staff.
  5. Avoid Phishing Attacks-includes, along with your staff, think about how your business operates and the ways that a cyber-criminal may target your organisation.

If you’d like more information or advice on how to protect your small – medium sized business from cyber criminals, please don’t hesitate to get in contact with a member of our team.  

Tags: Cyber Security, Security, Cyber Security for SME’s, cybercrime, Cyber Criminals