Does it feel like things are getting a little more unsteady lately? Maybe it's the onslaught of AI-driven platforms or companies like CrowdStrike falling prey to threats that were internal. No one is safe, it seems. So what do you do? Where do you turn? More importantly, who do you trust? It's obvious threats are evolving, so which ones are directly affecting you?
If you want a deeper dive into these topics, join us for our Cybersecurity Workshop Series on Oct. 11. We'll discuss threats, trends, cyber insurance, using AI in your business safely, and ERP end-of-support (oh and CrowdStrike too).
Biggest security threats to small business
- AI-Powered Cyber Attacks: Cybercriminals re leveraging AI and machine learning to create more effective attacks, such a automatically finding vulnerabilities, launching sophisticated phishing campaigns, or bypassing traditional security measures. Small businesses will need to adopt AI-driven security tools to keep up with these advanced threats.
(By the way, almost all of the remaining 4 threats can be orchestrated using AI)
- Data Breaches and Data Privacy: Your information is highly valuable to an attackers, so if they can compromise a business and gain access to client or vendor information or even corporate employee records - they can use it for extortion to sell it off to the highest bidder. Industries like Healthcare and Finance or Banking are at the top of the list because they deal with highly sensitive information.
- Cloud Security Vulnerabilities: Misconfigured cloud infrastructure and inadequate access controls can lead to data breaches. Small businesses may struggle with properly managing cloud security settings, making you targets for attackers looking to exploit weak cloud defenses.
- Supply Chain Attacks: Attackers may compromise a small company to gain access to larger organizations. Securing the supply chain will become more critical, as attackers often exploit weaker links in the chain.
- IoT Device Hacking and Ransomware: This continues to be a top threat along with Business Email Compromise (usually with some sort of Financial Transfer Fraud (FTF) associated).
The biggest problems with these threats are 2-fold: your business integrity is at stake but when it comes to your bottom line, if a threat occurs Cyber Insurance premiums and payouts are contingent on more and more stringent requirements you have to follow.
Steps To Protect Yourself Moving Forward
At the end of the day, we know you're aware of what's going on in the news and we know you want to keep you business safe. But knowledge is power and we want to give you the best shot at keeping your company from massive ransomware payouts or a lack of internal education.
If you want help or you're just not sure where to start, give us a call or check out our events page. We'll make sure you start 2025 on the right foot.
P.S. be on the lookout for blogs expanding on the above threats. We'll help you understand the signs you're being targeted, how to protect against them, and what to do if you're attacked. There will be a compiled list here once they're published.
Emily Kirk
