By Amos Aesoph, Xigent CISO
Small and Medium-sized Businesses (SMBs) continue to be the number one target for ransomware attacks. Currently, 71% of ransomware attacks are carried out on businesses that have less than 500 employees.
So, why are SMBs prime targets? The answer is simple, money and resources! Small businesses have lower budgets for security purposes and have considerably smaller teams of IT professionals as compared to their large enterprise counterparts, making them a goldmine for cybercriminals.
The scariest part about all of this is how long SMBs would survive after a ransomware attack. According to a survey conducted by CyberCatch and shared by our trusted partner KnowBe4, of the 1,200 SMBs surveyed:
Those are some eye-opening statistics above, but SMBs should not be discouraged, they do have options that can be very cost-effective and boost their defenses. The most cost-effective security measures are:
If you are a Small or Medium-sized Business and unsure of how long your business would survive after a ransomware attack and would like to learn more about the most cost-effective security measures, our security consultants can recommend a security plan best suited for your business.
Sources:
CyberCatch: Small and Medium-Sized Businesses Ransomware Survey 2022
KnowBe4: 75% of SMBs Would Only Survive Seven Days or less from a Ransomware Attack 2022