Cyberattacks against large enterprises may make headlines, but Small and Medium Businesses are also considered attractive targets by cyberattackers for several reasons:
Personally Identifiable Information (PII) has the same value (per record) on the dark web irrespective of whether it is sourced from an SMB or a large enterprise. Therefore cyberattackers will attempt to steal PII from SMBs if presented with an opportunity Ransomware operators depend on the encrypted data having value to the organisation that is being attacked; value of the data to others is not of primary importance to threat actors, which makes SMBs a viable target for ransomware even if the targeted business does not generate Intellectual Property (IP) or store PII SMBs are perceived as having less protection than large organisations and are considered easier to attack by threat actors Small and Medium Businesses face the same risk of cyberattack as a large enterprise and, therefore, require enterprise-grade cybersecurity to protect them from attacks that could result in bankruptcy.
Let us now dive deeper into which business has to bear the brunt of attacks. Is it large enterprises or Small and Medium-Sized Businesses (SMBs)? While threat actors will try to target large businesses, SMBs would be an easy catch for them. Let us see why.
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Before the RaaS model was developed, ransomware developers would prefer attacking large companies as the ransom collected would have to be large enough to justify their effort and risk in developing and deploying the ransomware. Development of ransomware required great skill which limited the number of ransomware developers and therefore the number of attacks. Under the RaaS model, the attack can be carried out by an affiliate who has no coding knowledge, which significantly increases the number of attackers. It now becomes profitable for ransomware operators to attack a large number of smaller victims which opens the floodgates to attacks on SMBs, which is supported by attack statistics: the USA reports that 50-70% of all ransomware attacks target SMBs. This is a nightmare for SMBs because the disruption caused by a ransomware attack may be sufficient to shut down operations.
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Unfortunately, no. 43% of cyberattacks target small businesses. There are several reasons why SMEs/small entrepreneurs do not escape cyberattacks: Your Data Is Valuable To You – Even if your business footprint is small and your data of limited value to anyone else, your data is valuable to your organisation as it wouldn’t be able to function without access to that data. This immediately makes you a target for ransomware attacks where cyberattackers encrypt your data and demand a ransom to restore access. How long would your business last if its IT infrastructure was paralysed? You May Be Collateral Damage – Malware can spread beyond the intended target, and can spread very quickly thanks to the internet. The WannaCry attack spread across 116 countries in 4 days. You may not be the target of a cyberattack, or even operate in the same continent as the intended victim, but you are still vulnerable You May Be A Stepping Stone – Your organisation may be used to launch an attack on another larger organisation You May Be Crptojacked – The attacker may not care about your data and only want to use the computing power of your devices to illegally mine crpto-currency at your expense Cyberattacks are a growing and deadly menace against SMEs. But why does that make personal antivirus a poor choice? Is enterprise cybersecurity more effective against malware than personal antivirus?
Netrunners typically perform reconnaissance, gather intelligence, and conduct cyberattacks to gain access to secure systems. This involves scanning networks, exploiting vulnerabilities, and using hacking tools to infiltrate and extract information from target systems.
The mission statement of the parent company of Automate, Network automation is to harness its entrepreneurial energy to help IT and business professionals in SMBs, global enterprises and channel partners.
Small and Medium Businesses (SMBs) often face significant challenges in managing payroll, benefits, and HR, including: Compliance Complexity: Keeping up with ever-changing labor laws, tax regulations, and statutory compliance can be overwhelming and time-consuming. Cost Management: Limited budgets make it difficult to maintain an in-house HR team and invest in tools for accurate payroll and benefits administration. Employee Satisfaction: Ensuring timely payroll, managing benefits effectively, and creating a positive HR experience are critical but challenging to achieve without expert support. Scalability Issues: As SMBs grow, their HR processes need to scale, often requiring specialised expertise and resources. WOKHR Solutions addresses these challenges by offering comprehensive services tailored to SMBs. From accurate and compliant payroll processing to benefits administration and expert HR support, we ensure your operations run smoothly while you focus on growing your business. Let us handle the complexities, so you can prioritize success!
To understand Ransomware as a Service (RaaS) and how it impacts Small and Medium Businesses (SMBs) we must first understand ransomware and Software as a Service (SaaS) and how these intersect.
Hostile intelligence action involving willful damage or attempted damage refers to deliberate acts aimed at undermining the integrity, functionality, or security of a target's information systems, assets, or operations. This can include activities such as sabotage, vandalism, or cyberattacks designed to disrupt or destroy critical infrastructure or data. Such actions are often carried out by state or non-state actors seeking to gain strategic advantages or to destabilize an adversary. The intent is to create chaos, gather intelligence, or weaken the target's capabilities.