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Our team helps Small & Medium-Sized Business (SMB) clients to make improvements to their resilience to cyber threats and security incidents, and proactively improve their cybersecurity posture for insurability. So…What is an SMB? SMBs have different levels of awareness; some are well on their path towards preventing a breach, while others suffer from apathy, overconfidence or denial. Many simply do not yet know where to start.
Before define an SMB, its important to acknowledge a significant issue. A cybersecurity Digital Divide separates the technology “Haves” (organizations with mature policies, processes and assets) and the Have-Nots (companies that have not begun to protect themselves in a measurable way.) We help them all to bridge the gaps and get themselves developing resilience on their cybersecurity journey.
There are 30+ million small businesses in the United States alone, comprising 98.7% of all businesses. They create two-thirds of net new jobs and drive U.S. innovation and competitiveness. Recent reports shows that they account for 44 percent of U.S. economic activity.
Many cybersecurity companies and solution vendors lack focus on SMBs. They’re busy selling complex “big-tech” solutions on the other side of the divide, where the technology “Haves” make big investments for endless point solutions of every kind.
In a recent Cisco SMB Cybersecurity Report, the company defined an SMB as “organizations with 250-499 employees” leaving a massive amount of true SMBs outside of their consideration.
THIS overlooked space (0-250 employees) is the underserved market where TEKRiSQ is most effective. The SMBs often outsource IT, do not have CISO‘s, security products or well defined procedures for dealing with these risks. We help them move their business forward and avoid costly risk, and even insure them against loss.
Small and medium-sized businesses (SMBs) are increasingly becoming prime targets for cybercriminals. Often perceived as having fewer security resources than larger enterprises, they present attractive opportunities for malicious actors. Understanding the current threat landscape is the first crucial step in building a robust defense. Here are some of the most significant cyber threats facing SMBs today:
This remains one of the most prevalent and effective attack vectors. Cybercriminals use deceptive emails, text messages (smishing), or phone calls (vishing) to trick employees into revealing sensitive information like passwords, financial details, or downloading malware. These attacks often leverage social engineering tactics, playing on emotions like urgency or fear to manipulate victims.
Example: An employee receives an urgent email seemingly from their bank, stating their account has been compromised and they need to click a link and enter their credentials immediately to secure it. The link leads to a fake login page designed to steal their information.
Ransomware involves malicious software that encrypts a victim’s files, rendering them inaccessible. Attackers then demand a ransom payment, often in cryptocurrency, in exchange for the decryption key. SMBs are particularly vulnerable as they may lack sophisticated backup and recovery systems, making the impact of data loss devastating.
Example: A small manufacturing company’s servers are infected with ransomware, locking all their production plans and customer data. The attackers demand a significant sum to restore access, effectively halting their operations.
Beyond ransomware, various other types of malware pose significant threats. This includes viruses, worms, Trojans, spyware, and keyloggers. These can be used to steal data, disrupt operations, gain unauthorized access to systems, or even use an SMB’s infrastructure to launch attacks on other targets.
Example: An employee unknowingly downloads a seemingly legitimate software update that contains a Trojan. This Trojan then allows attackers to remotely access their computer and steal customer databases.
While external attacks are common, threats can also originate from within an organization. This can be unintentional, such as an employee accidentally deleting critical files or falling for a phishing scam, or malicious, such as a disgruntled employee intentionally sabotaging systems or stealing data.
Example: A former employee retains access to company systems after leaving and uses it to download sensitive business information for personal gain or to share with competitors.
As more SMBs adopt cloud-based services for storage, applications, and infrastructure, these platforms become attractive targets. Misconfigurations, weak access controls, and compromised credentials can lead to data breaches and service disruptions in the cloud.
Example: An SMB using a cloud storage service fails to implement multi-factor authentication, making it easier for attackers to gain access to their stored files through compromised employee credentials.
Cybercriminals are increasingly targeting smaller businesses that are part of larger supply chains. By compromising a less secure SMB, attackers can gain a foothold to access the larger organization they supply. This highlights the interconnected nature of cybersecurity risks.
Example: A small software vendor providing a specific tool to a larger corporation is compromised. Attackers then use this access point to launch an attack on the corporation’s systems.
Staying informed about these threats is crucial for SMBs to implement appropriate security measures, educate their employees, and build a resilient defense against cyberattacks. Proactive security practices, including strong passwords, multi-factor authentication, regular software updates, employee training, and robust backup strategies, are essential for mitigating these risks.
