Cyberattacks are on the rise, and that includes small businesses. Here’s what to know

Cyberattacks are on the rise, and that includes small businesses. Here's what to know
A person works on a laptop in North Andover, Mass., on June 19, 2017. Cyberattacks on businesses are rising, including small businesses. It’s a troubling trend that can be very costly and time consuming if owners don’t have a plan to deal with them. Credit: AP Photo/Elise Amendola, File

Cyberattacks on businesses are rising, including small businesses. It’s a troubling trend because a breach can be very costly and time consuming if owners don’t have a plan to deal with one.

According to the Verizon 2023 Data Breach Investigations Report, the median cost per ransomware attack—which features a type of malicious software designed to block access to a computer system until a sum of money is paid—more than doubled over the past two years to $26,000.

That’s partly because there has been a dramatic increase in ransomware attacks, which represent 24% of all breaches.

Small businesses should first have a plan in place to prevent cyberattacks. The human element is the cause of 74% of breaches, so owners should make sure all of their employees use safeguards such as two-factor identification to make it harder to be hacked. Requiring employees to regularly change their passwords can also help.

If your business has been breached, it’s best to work with a cybersecurity executive within your company or a trusted third party to assess what happened and the damage done. Trying to contain it without having the right technical knowledge can just make things worse.

It’s also important to let the authorities know what happened. Attacks must be reported to federal authorities within 72 hours after a company is reasonably sure one has occurred.

© 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.

Citation:
Cyberattacks are on the rise, and that includes small businesses. Here’s what to know (2024, April 23)
retrieved 23 April 2024
from https://techxplore.com/news/2024-04-cyberattacks-small-businesses.html
This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no
part may be reproduced without the written permission. The content is provided for information purposes only.
Please follow and like us:
error0
fb-share-icon20
Tweet 20
fb-share-icon20
Leave a Reply

Your email address will not be published. Required fields are marked *

Free Worldwide shipping

On all orders above $10

Easy 30 days returns

30 days money back guarantee

International Warranty

Offered in the country of usage

100% Secure Checkout

PayPal / MasterCard / Visa