Think Hackers Don’t Care About SMBs? Think Again.
Cyber-attacks on large corporations and business have become common place and it is more likely than not that some of your personal information has already become the spoils of an attack. IT and PR staff alike are left reeling, dealing with the fallout of lax security systems. But hackers do not always have bigger fish to fry.
Small and medium-sized businesses often carry on doing business, laboring under some false assumptions: that they are nobodies, they’re under the radar, not worth a hacker’s time. And that’s where they are very wrong. Though not making the headlines, SMBs experience just as many attacks or more, and that number is sharply rising. Data from a study by the Ponemon Institute revealed that in specific regions, the number of cyber-attacks jumped by as much as 21%.
But why is that? It seems SMBs have proven themselves to be low hanging fruit. Often with no dedicated IT staff and running their network off unfit-for-purpose consumer hardware with lax security, exacerbated by a general lack of awareness of the potential for attack at any moment. In a previous posting we examined the average cost of a security incident in 2019 costing small and medium-sized businesses USD 14,000 and USD 184,000 respectively.
Security incidents for large enterprises are commonplace, and they often have the cash reserves in place to swallow up the damage without being crippled. But for SMBs, the difference between a profitable year and going out of business often rests on a knife edge. A ransomware attack could easily tip the balance, plunging a company into liquidation.
A Cautionary Tale
According to SC Media, the firm Efficient Services Escrow Group, based in California, not so long ago found itself filing in its final tax return. With poor security, its bank account became the target of some still-unknown deviants. The business’s bank account was commandeered by the hackers, and then three bank transfers were made to accounts in Russia and China. Only after a month later were these transactions, totaling USD 1.5 million, finally discovered. By then the money was long gone into the wilderness that is the Internet, with no recourse available.
The business, unable to absorb the loss, was forced to close its doors, and all its employees let go. Not only was the money in question a huge issue, but then, in the fallout, who is responsible so such a grave lapse in security? Though an extreme case, it is a cautionary tale for SMBs everywhere in the risks of poor security hygiene practices.
So how are SMBs adapting to a cyber world that is increasingly fraught with hazards. Despite the budget constraints and the lack of suitable IT know-how, those who value their business are turning to external providers to better provide the security services needed to keep all aspects of an SMBs network safe. As they say, you should hire people who are better than you, and when it comes to taking on the role of your business’s online security, it is no different.
How Can an SMB Win at Cyber Security?
As either being the person responsible or the SMBs owner yourself, what should you look for in an MSP? Here’s a rundown of the three key characteristics when choosing which MSP to partner with.
1. Learning
Find a provider who actively seeks you out and wants to explain why they took the measures they did. They are not just in it for the money, rather, they take on the role of a teacher. Not only do they provide the tools to protect your business, but they also offer tips, training and advice on how to take steps yourself.
You may think you are smart enough to avoid something as obvious as a phishing scam, but are all your staff? Keeping your business safe is a team effort, so you need to look for a partner, rather than just a provider.
2. A Professional Upgrade
Often, your business’s security can boil down to the hardware you’re using. If you’re running your operation on outdated hardware that the manufacturer no longer supports, and has hence stopped providing security updates, you’re just asking for a bad time.
While there is not too much of a price difference when upgrading to professional-grade equipment, the features you receive will certainly pay off in both the long and short term. Nuclias, for example features 128-bit Enterprise encryption, which is especially designed for use in organizations, offering higher levels of security than that of your consumer-grade router. {Users can also look forward to even securer 192-bit Enterprise encryption in the near future}
Furthermore, updates and upgrades are always a concern. But Nuclias Cloud neutralizes most of the pain with regular, free-of-charge updates so as to maintain a tight perimeter. If you always find yourself clicking ‘Install updates later’, Nuclias can also help but scheduling firmware upgrades automatically to devices during non-business hours, to cause the least disruption. Your MSP can schedule all of this for you, with minimal interruption to you.
3. A Reliable Track Record
When it comes to cyber security, the proof is very much in the pudding. If the MSP has a healthy portfolio of all sizes and industries who report being happy with their service, that is generally a good sign. It requires a bit of old-fashioned research, but it will certainly pay off in the long run.
Conclusion
Businesses that are looking to upgrade their security to that of a professional level are recommended to seek out a provider that offers Nuclias. Not only can they achieve professional-grade security for their business and all its data, but there are host of other benefits to further add value.
D-Link has seen how other Cloud-managed network solutions have been placed out of reach of many businesses, which is why we’ve designed Nuclias Cloud to be as accessible as possible, without compromising quality.
