The chances are incredibly high that you’re hearing more on the news about large businesses dealing with data leaks. One of the more recent ones that’s been really catching attention is 23andMe. While these are getting on the news quite often, you have to understand that it’s not only larger businesses that are being targeted. In fact, it’s the same businesses that are getting targeted the most.
Oh yes, you read that right; hackers don’t care how new and small your business is; they care about what information you have in your payment system so they can get information; they want to steal whatever they possibly can.
But why? Why are small businesses the biggest targets? It’s something that so many small business owners ask themselves, and it’s something that they finally need to know more about. So, with that said, here’s why small businesses are always the prime target for hackers.
Small Businesses Tend to have Limited Cybersecurity Resources
They’re more than aware that small business owners tend to be clueless about cybersecurity and, at most, probably use antivirus software like Windows Defender. A lot (especially businesses where it’s clear it’s only one person) will only use the cheapest and most simplistic security software instead of putting more money into IT services like https://www.campusworksinc.com/it-managed-services/, for example. Small business owners are usually cheaper, lack the funds, and lack the knowledge to really secure their business, so of course, their whole business is nothing more than one giant walking target.
There’s So Much Valuable Data
Hackers don’t choose favorites; they know that small businesses have just as much good data as large businesses. Seriously, despite their size, small businesses possess valuable data that cybercriminals seek to exploit. They know you have it, and they want it for their criminal activity. This includes sensitive customer information such as credit card details, personal identities, and intellectual property.
Perception of Lower Security Risk
Hackers understand that small businesses may not prioritize cybersecurity as much as larger enterprises do. This perception of lower security risk makes them attractive targets, as hackers believe they can infiltrate small business networks with less resistance and detection.
More Likely to Pay Ransom
No, hackers aren’t planning on kidnapping your family or teammates, but there is something else they can hold for ransom: your data. This is known as ransomware, and it’s a serious problem that both individuals and small businesses face. But what exactly does this even mean?
Well, ransomware attacks are where hackers encrypt a company's data and demand payment for its release; again, this has become increasingly prevalent. But why small businesses? Well, small businesses are often targeted because they are more likely to pay the ransom to regain access to their critical data, especially if they lack comprehensive data backup solutions.
Regulatory Compliance
Another thing you really need to think about is the fact that small businesses may even struggle to comply with industry regulations or data protection laws due to limited resources or expertise. They're not always clear, and it can be confusing, especially if you’re someone who is totally not tech-savvy. This non-compliance can attract legal penalties in addition to the financial and reputational damage caused by a successful cyberattack. As you can see, all of this is a total nightmare!
