The Devastating Consequences of Ignoring Cyber Security: A Growing Threat to SMEs
SMEs are like sitting ducks in the wild west of cyber crime. Without robust security measures, limited resources, and expertise, they’re vulnerable to even the most novice of cyber attackers. And the numbers don’t lie. Kaspersky’s latest research reveals that SMEs are under attack more than ever before.
The Figures are Staggering
- 5% increase in cyber criminal infections over the first quarter of 2024
- 76% of small businesses worldwide and 88% in the META region experienced at least one cyber incident in the past two years
- 9% of small companies worldwide and in META had to suspend certain areas of their business operations
- 24% of global cyber incidents and 20% in META attributed to weak passwords or failure to update passwords regularly
The Experts Weigh In
"Human error is a significant vulnerability for SMEs," says Vasily Kolesnikov, a cyber security expert at Kaspersky. "Cyber criminals know that weak passwords and poor security awareness can lead to a goldmine of compromised data and reputational damage."
The Consequences are Real
- Leaked confidential data
- Reputational damage
- Loss of customer trust
- Forced business shutdowns
The Verdict: It’s Time to Act
SMEs can’t afford to stick their heads in the sand any longer. It’s time to prioritize cyber security, invest in robust measures, and educate employees on best practices. The consequences of ignoring cyber security are devastating, and it’s only a matter of time before your business becomes the next victim.
Recommendations:
- Establish clear access policies
- Use EDR and XDR
- Set strong passwords and enforce multi-factor authentication
- Educate employees on cyber security best practices
- Set access policies for corporate assets like e-mail, shared folders, and online documents
