Small companies are being hit with more data breaches (opens in new tab), cybersecurity firm Kaspersky says, claiming that more than a third (36 per cent) of all of such organisations have been victims of data breaches (opens in new tab) this year. This represents a six per cent jump, compared to the same period last year (30 per cent).
At the same time, the report says that these small companies often don’t do enough to protect themselves from these painful incidents and dangerous consequences.
Kaspersky says that small businesses feel the sting of cyber-incidents, because in many cases, they need to slow down, or even completely stop their work processes to tackle the pressing matter. That, consequently, leaves a dent in their profits.
To add insult to injury, if these businesses lose their customers’ personal data (opens in new tab) in the process, they’re also risking losing consumer trust and facing GDPR penalties.
Kaspersky says that small businesses need to be more prepared. Some don’t have a centralised cybersecurity management solution, leaving protections for specific computers to specific individuals. In other cases, companies don’t opt for business cybersecurity solutions, going for consumer products instead. These products, although good at a basic level, don’t offer nearly enough for business users.
“Smaller companies are often focused on how to make their business work and grow — just like they should be. They may not have cybersecurity among their top priorities, however, the cost for overlooking the problem will only grow. Why? Because malware doesn’t distinguish between its victims and because even very small organisations have something to lose, such as sensitive data,” comments Andrey Dankevich, Solution Business Lead, Kaspersky.
“But the good news is that to be able to protect themselves both from malware and human factor risks, these smaller companies don’t need to invest much or hire advanced specialists. It is only a matter of choosing the right security product.”