Why Small Businesses are Prime Targets for Cyberattacks and How to Safeguard Against Them

Small businesses often believe they are not important enough to attract hackers. However, this notion is misleading. Current statistics indicate that nearly 43% of cyberattacks target small to mid-sized businesses (SMBs). These businesses frequently lack strong cybersecurity protocols, making them an easy target for cybercriminals.

In this post, we will examine why hackers are drawn to small businesses and provide actionable advice on how to protect against cyber threats.

Top Reasons SMBs Are Hacker Fodder

Minimal or No Multi-Factor Authentication (MFA)

A significant vulnerability for many small businesses is the absence of multi-factor authentication. MFA adds a critical security layer by requiring more than one method of verification before accessing sensitive data. For instance, the presence of MFA can reduce the risk of unauthorized access by 99.9%, according to studies.

Outdated Operating Systems and Software

Numerous small businesses still use outdated software and operating systems that do not include the latest security patches. These weaknesses can be exploited by hackers, enabling unauthorized access. For example, the WannaCry ransomware attack impacted hundreds of thousands of computers worldwide because many organizations did not update their systems.

Lack of User Awareness and Training

Employees are commonly the weakest link in cybersecurity. When workers are not trained in security best practices, they can unwittingly aid hackers through mistakes, such as falling for phishing attacks. In fact, about 95% of successful breaches are caused by human error. Training staff on recognizing phishing emails and understanding their role in security can significantly reduce risks.

Poor Access Control and Password Hygiene

Weak passwords and lax access control make it easier for hackers to breach systems. Many SMBs neglect to enforce strict password policies or fail to implement regular password changes, putting sensitive data at risk. A recent study showed that 81% of hacking-related breaches involve stolen or weak passwords.

No Active Threat Detection or Response Plan

Small businesses often lack a dedicated cybersecurity response plan. This oversight can result in severe financial and reputational damage when breaches occur. Companies without an incident response plan are more than twice as likely to suffer significant costs due to cyber incidents. Implementing strategies for monitoring threats and quick responses is essential for minimizing risk.

Attack Vectors We See Most Often

Phishing Emails from Spoofed Vendors or Partners

Phishing remains one of the most widespread and effective methods hackers use to compromise sensitive information. Malicious emails impersonating legitimate vendors can trick employees into sharing passwords or downloading harmful files. In one survey, 70% of organizations reported being targeted by phishing attempts over the past year.

Malicious File Attachments Disguised as Invoices

Hackers often disguise harmful file attachments as normal invoices or documents. Employees may open these files without realizing they are installing malware. A study found that 45% of small businesses experience issues due to malware introduced through such means.

RDP Brute-Force Attempts on Unprotected Endpoints

Remote Desktop Protocol (RDP) vulnerabilities have become a primary target for cybercriminals. Unprotected endpoints allow hackers to use brute-force methods to guess user credentials, gaining control of systems. Reports indicate that nearly 58% of cyberattacks exploit RDP vulnerabilities.

Unpatched Routers or Wi-Fi Networks

Many small businesses often neglect updating their routers and wireless networks. Unpatched devices can serve as easy entry points for cybercriminals. Statistics show that around 80% of data breaches involve unpatched vulnerabilities, highlighting the critical need for regular updates.

Insider Threats Due to Human Error

While external threats are significant, human errors can also jeopardize cybersecurity. Employees might accidentally expose sensitive information due to negligence or ignorance about security protocols. Nearly 60% of organizations have faced security breaches caused by insider mistakes, which underscores the need for continuous employee training.

MahNik’s SMB Cybersecurity Framework

Enforced MFA, Email Filtering, and Mobile Device Management (MDM)

Integrating multi-factor authentication, implementing email filtering for suspicious content, and managing mobile devices are key strategies to enhance security. These measures can ensure unauthorized users are blocked from accessing sensitive information.

Ongoing Staff Security Awareness Programs

Regular training for staff is crucial to building cybersecurity awareness. Workshops that teach employees to identify threats and understand their role in security can lead to a significant improvement in a company’s defensive posture.

Weekly Patching and Vulnerability Remediation

Consistently applying updates and patches is vital for maintaining system integrity. This proactive approach can help close gaps that cybercriminals may try to exploit, ultimately reducing the risk of breaches.

DNS Filtering and Cloud Firewall Policies

Employing DNS filtering and implementing strict firewall policies help monitor network traffic and prevent harmful activities before they escalate. These practices act as an effective barrier against a wide range of emerging cyber threats.

Endpoint Monitoring with Auto-Containment Response

Effective endpoint monitoring can quickly detect unusual activities and potential breaches. An automatic containment response allows for quick isolation of threats, helping to mitigate damage before it spreads.

Taking Action to Protect Your Business

As cybercrime continues to grow, small businesses must be aware of their vulnerabilities and take action to safeguard themselves. The belief that hackers will overlook smaller firms is a dangerous misconception. By implementing strong cybersecurity measures, investing in employee training, and creating effective response plans, small businesses can better protect themselves against cyber attacks.

At MahNik Systems, we recognize the unique challenges small to mid-sized businesses face in maintaining cybersecurity. Our tailored, affordable solutions offer organizations robust protection without the cost associated with larger enterprises. Don’t wait until your business becomes a statistic—prioritize creating a resilient cybersecurity framework today.