Is Your Business Equipped to Fight a Cyber Attack?

  
     
October 03, 2017

Many small businesses are confident that their antivirus software will protect them from cybersecurity threats. However, it’s a lot like bringing a knife to a gun fight: you may be able to fight off minimal threats close by, but what about the snipers sneaking up behind you?

Is your business equipped to fight them off? Or do you think you’re safe because your small business isn’t large enough to attract hackers?

Myth: Small Businesses Lack the Resources to Protect Themselves
The reason that many small businesses don’t invest in high-quality cybersecurity systems, and instead rely on basic antivirus software, is not a lack of funds. It’s a lack of understanding.

Well over half of the small business owners we surveyed reported that they needed more information and access to expertise in order to make a decision to invest in cybersecurity. If they had access to expertise on the topic, they’d be willing to make the investment. BBB of Greater Maryland is here to educate small businesses on the resources available to help keep them secure online.

They Got Shot First and Asked Questions Later
An employee of Baltimore-area small business “X Corp” received an email from what appeared to be a customer. The email, which contained a malicious attachment, actually came from a hacker, who then gained access to X Corp’s system when the attachment was opened.

The hacker created a new domain that changed one letter of company’s URL (e.g., xcorrp.com instead of xcorp.com) and used that domain to send emails to at least two of X Corp’s customers.

The emails told the customers that the company had changed banks and that all future payments should be sent to this “new” bank, including instructions for wiring the payments. Instead of sending X Corp payments for their outstanding balances, the customers were accidentally siphoning the money directly to the hackers.

Eventually X Corp figured out what happened when they started contacting the customers about unpaid invoices that the customers thought they had paid.

For weeks, X Corp lost money while the cyber attackers profited off of their customers—all because they lacked the proper cybersecurity precautions.

Far too often, it takes a breach like the one X Corp faced to get a small business to start asking questions about how they can protect themselves against cyber criminals. Don’t wait: BBB will help you get the answers you need to stop hackers—before they can touch your business.

What You Can Do to Protect Yourself
If you need help protecting your business, contact us to learn about resources and tools you can use. Plus, don’t forget to visit our Cyber Day Marketplace event on October 10th for a half-day of cyber education, vendor exhibits and networking designed for businesses like yours.

Also, see our earlier article, Cyber Crimminals Stage Large Attacks on Small Businesses.