Last Updated on October 9, 2020

Cybersecurity Teaches us to be Wary of Cyber Crime

Small to medium-sized businesses are a cybersecurity target

Cybersecurity is becoming a priority. Villains prey on small to medium business (SMBs) much more often than we realize. Nearly 70% of SMBs experienced a cyberattack in a 12-month period, according to The 2018 Ponemon Institute SMB Cybersecurity Survey & Report. Your business, workforce and customers often suffer brutal consequences in the wake of a cyberattack.

Like Ethan Hawke, the hero of Mission: Impossible, you can take steps to stop cyber villains in their tracks – helicopter stunt training not required. Read on for simple steps you can take now that won’t break the bank.

High stakes gamble

“As the threat landscape evolves, cyber criminals are leaving no stone unturned — and companies — no matter how big or small — are only as strong as their weakest link,” said Dr. Larry Ponemon, chairman and founder, The Ponemon Institute.

SMBs who don’t make cybersecurity a priority are gambling with high stakes. For example, retailers could lose ~20% of their shoppers with a cyberattack, according to KPMG’s Consumer Loss Barometer. This is just the tip of the iceberg. Here are some examples of costs that can quickly pile up in the aftermath of a cyberattack

• Losses from stolen customer lists, trade secrets, financial information
• Blemished reputation
• Disruption to your business
• Legal costs including fines, suits & corrective actions
• And more…

3 ways to stop cybersecurity villains

Insiders – employees, contractors, partners and suppliers – are a major source of cyber incidents. 60% of SMBs pointed to worker negligence as the root cause of cyber breaches, according to The 2018 State of SMB Cybersecurity Report.

There are affordable ways protect your customers, reputation and business from cyber crooks.  Here are 3 ways you can prepare your Insiders to identify, avoid and report threats:

1. Educate Insider to Thwart Cyber Crooks

Online interactive training is an effective yet affordable way to teach the different types of cyberattacks, the impact and the role of each person to avoid risk. For example, “Cybersecurity for Employees” is a series of online training courses that cover these “Must Have” Topics:

• Dangers of cybercrime to your business, customers and workers
• Best practices to keep electronic and physical information secure
• How to spot different types of cybercrime
• How to respond to cyberattacks like phishing, social media, etc.
• Safe internet & email use
• Top 10 cybersecurity tips

2. Give Insiders Tools to Defend Cybersecurity

The right HR help line offers supervisors guidance on how to handle risky behavior. Anonymous tip lines give Insiders a safe place to report cybersecurity concerns. Adding data security policies to your employee handbook lets workers know cybersecurity is everyone’s responsibility—not just IT’s.

3. Background Check Before You Hire

Thorough, accurate and complete background checks are an inexpensive way to help avoid hiring someone who poses a security threat.

Chris Cooley is co-founder of MyHRConcierge and SMB Benefits Advisors.  MyHRConcierge specializes in helping small to mid-sized businesses throughout the U.S. Chris can be reached at 855-538-6947, ext. 108 or at ccooley@myhrconcierge.com.