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Cyber Reality, Part II: Here’s Why You’re Not Too Small to Get Hacked

By Matthew Kaufman April 2, 2024
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We all read about it again last week: another large enterprise was breached, exposing sensitive data for a huge number of users. In this case, it was AT&T exposing 73 million user records.

The problem with these headlines is the false impression they give small and mid-sized companies. What impression is that?

“We’re too small to get hacked,” that’s what we hear frequently from businesses that decide to work on a break-fix basis with their IT provider rather than making use of retained, fully-managed IT and cybersecurity services.

The “we’re too small” viewpoint is not just wildly inaccurate; it’s dangerous.

To understand why, you have to understand the twisted reality of the cybercrime industry – yes, industry – as well as the high stakes motivations behind the world’s rogue regimes.

The drivers behind cyber attacks are complex and multifaceted. A harrowing CNN report recently unveiled the grim conditions under which some cybercriminals operate, particularly in regions where economic hardship prevails. Individuals, often young and vulnerable, are enticed by the prospect of lucrative jobs but instead find themselves in situations akin to modern-day slavery. They are coerced into conducting romance scams and other fraudulent activities under deplorable living conditions, with little to no hope of escape. Often, these cybercriminals are not acting out of sheer malice but rather out of a desperate attempt to survive in oppressive environments.

This desperation fuels a relentless pursuit of any potential revenue source, including small businesses that might underestimate the sophistication and determination of their attackers. The human element behind these crimes adds a layer of persistence and ingenuity to the cyber threats that businesses face.

On a larger scale, cybercrime serves as a critical financial lifeline for certain regimes, such as North Korea. According to CSO Online, North Korea’s state-sponsored hackers are a significant source of revenue for the government, with estimates suggesting that these cybercriminals have funneled as much as $2 billion into the country’s coffers. This money supports a regime that is otherwise isolated from the global economy due to international sanctions. With such a substantial financial incentive, North Korea invests heavily in its cyber warfare capabilities, creating a sophisticated and adaptable network of hackers.

For small businesses, the implications are clear: cybercrime is a well-funded, well-motivated industry that will not cease its operations anytime soon.

The funds extracted from businesses around the world, including small enterprises, contribute to the sustenance of these criminal endeavors and the regimes that support them.

Given this landscape, it is imperative for small businesses to take their cybersecurity seriously. The risks extend beyond immediate financial loss and can have long-term repercussions on a business’s survival. Cyber attacks can lead to the theft of sensitive customer data, disruption of daily operations, and significant reputational damage that can be difficult, if not impossible, to repair.

To combat these threats, small businesses must adopt a proactive stance on cybersecurity. This includes implementing strong security protocols, such as encryption and multi-factor authentication, regularly updating and patching systems, email tfiltering and active threat detection.

And because most breaches still stem from human error, educating employees about the risks of phishing and other common cyber threats is critical.

All of this helps explain why we’re no longer willing to work with clients on an hourly, break-fix basis, as we wrote last week.

You call your plumber when things break. The same approach to cybersecurity, however, will result in a near-meaningless call for help after disaster strikes. We simply can’t enable businesses that want to take this approach anymore.

Due to the relentless nature of today’s cyber threats, as described above, small organizations must recognize the critical importance of cybersecurity and take the necessary steps to protect their assets, their customers and their future. The threat is real, and complacency is not an option.

By fortifying their defenses, small businesses can help secure not just their own operations, but also contribute to the broader effort of combatting global cybercrime.

For those companies wanting to take a proactive approach to protecting their data, we’re here to help.

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