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Cybersecurity Facts for Small Businesses to Know in 2021

Cyber attacks on all organizations, but especially on small and medium-sized firms, are growing increasingly common, targeted, and complicated. According to Accenture’s Cost of Cybercrime Study, small firms are targeted by 43% of all reported cyberattacks, yet just 14% are equipped to protect themselves. A cyber attack not only disrupts routine operations but may also inflict damage to critical IT assets and infrastructure, which may be hard to recover from without the necessary cash or resources. As a result, small firms are finding it difficult to protect themselves. The most common types of attacks on small businesses include phishing/social engineering, compromised/stolen devices, and credential theft. Here is a list of facts that every small business owner around the world must be aware of: We aren’t lying when we say hackers were active last year. Hacking incidents against small firms climbed five-fold in 2020, according to Fundera. These sorts of assaults increased by 424% in total. Why would hackers choose smaller firms with less money to pay ransoms as their target? Continue reading to find out. While most big firms are becoming more conscious of the dangers of cyber-attacks, many small businesses continue to bury their heads in the sand. According to a survey conducted by BullGuard in 2020, a third of the firms with 50 or fewer workers use free consumer-grade cybersecurity to defend themselves.
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