What are some essential SME cyber security measures that will protect their networks?

Small businesses should set up firewalls to monitor and control incoming and outgoing traffic, use virtual private networks (VPNs) for secure remote access and implement strong password policies with multifactor authentication. Regularly updating software and operating systems is also critical to patch known vulnerabilities. Employee training on cyber security awareness can further reduce risks by minimizing the chances of phishing or social engineering attacks.

Which network security for business tools are most effective?

There are several effective tools small businesses can use to strengthen their network security. Antivirus and anti-malware software help protect against malicious software. Firewalls add an extra layer of protection at the network perimeter. Endpoint protection tools ensure that all devices connected to the network are secure, and password managers can help employees manage strong, unique passwords. Backup tools ensure that data can be restored in case of a ransomware attack or data loss.

What are some best practices for maintaining ongoing network security?

Maintaining network security is an ongoing process that requires consistent attention. Best practices include conducting regular security audits and vulnerability assessments to identify and fix weaknesses. Keeping all software, hardware and firmware up to date is essential to close known gaps. Frequent backups maintain integrity. Employee training on security protocols, especially regarding email safety and data handling, reduces risks, while developing and testing an incident response plan ensures the business can react swiftly and effectively if a breach occurs.

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Hackers Love Attacking SMBs – Network Security for Business

Operating a small or midsized enterprise (SME) is a challenge at any time, but with unprecedented cybercrime growth, SMEs often don’t pay enough attention to cyber security. Whether hindered by a lack of IT security knowledge or budget, business owners often underestimate the threats to their network security and expose their companies, employees and network-connected business partners to significant risk. In the meantime, hackers find new ways to capitalize on this expanding target landscape. Coincidentally, more than half of all cyberattacks are on SMEs, yet more than 60% of SME owners think they’re unlikely to be the target of a cybercrime. They have lulled themselves into a false sense of security.

Why Do Cybercriminals Attack SMEs?

They’re Easier Targets Because They Lack IT Support – Because SMEs don’t always devote the time, attention and budget required for proper layers of cyber security, hackers know that breaching their data will be much easier than that of large corporations with dedicated IT security departments
Lax SME Cyber Security Can Offer Access to Larger Companies – SMEs often do business with much larger corporations. They are digitally connected for file-sharing, online transactions, supply chain management, etc. The inadequate security on the part of the SMEs might afford hackers access to larger companies’ data through those business functions
- For example, Target suffered a breach after hackers infiltrated through the network of a small, third-party HVAC contractor. It resulted in 40 million stolen credit and debit cards
Vulnerability to Ransomware Attacks – Small and midsized enterprises are more vulnerable to ransomware because of less-than-perfect SME cyber security and inconsistent or nonexistent offsite data backups. Educating employees to follow a standardized list of cyber best practices when handling email and other network activities is critical for defending against ransomware attacks. In addition, users must understand the importance of thinking before clicking and reporting suspicious emails and attachments
SMEs Collect Valuable Data – Social Security numbers, credit card information, medical records, bank documents and other private client or company information are worth money to hackers who resell such data to other hackers or exploit it directly
Your Computer and Networked Devices (IoT) Can Be Used for DDoS Attacks – For distributed denial of service (DDoS ) attacks, the hackers connect an “army” of computer bots to send repeated requests to the attacked website, overloading it and causing it to malfunction or crash and go offline
Inadequate Cyber Security in Place for Remote Access Work – Many SMEs don’t understand the importance of increased cyber security or working with a small business IT security company to cover the many new smart device IoT access points created by devices or those used for remote work. Employees accessing the company network remotely expand the attack surface with each device added

Why Is Network Security for Business so Important?

Businesses have less legal protection from online bank fraud than consumers. Consumers usually have 30 to 60 days to dispute fraudulent bank transactions, and in most instances, the charges are reversed by the bank. Companies that are victims of online bank fraud often lose money from unauthorized transactions that aren't caught immediately and reported to the bank. Moreover, for businesses, there is no legal guarantee that any fraudulent transactions will be reversed.

What Are the Costs of Lax SME Cyber Security?

For smaller businesses, the costs related to a severe data breach go beyond the loss of revenue. Once attacked, the companies might have to spend a lot more money hiring a small business IT company to analyze the breach, discover the source and consequences of the attack and calculate the cost of repairing the damage and securing the network against future attacks. In addition, companies must notify affected parties and face liability for every record breached. The ultimate costs to a small to midsized business can be devastating and often leads to bankruptcy.

Company owners cannot afford to ignore network security for their business. It is essential for safely doing business and protecting hard-earned company data. Smaller businesses usually use affordable managed services for network security. They receive the benefits of an in-house team without the costs and management overhead of hiring an in-house employee. Reach out to us for an assessment if you are in the New York City area, or contact a local IT security company specializing in small and midsized business clients to provide expert consulting and risk analysis. Assess cyber vulnerability before a cyberattack hits your network.