Why hackers might be targeting you

There are only two kinds of companies: those that have been hacked, and those that will be.” – Robert Mueller, 6th Director of the Federal Bureau of Investigation (FBI), 2001–2013.

In the digital age, it is a popular misconception that “hackers only look for big targets.” Many small and medium-sized businesses (SMBs) operate under the misconception that they are too small to matter to hackers. However, the reality is completely different. Cybercrime is a numbers game and even a small success can be a significant payday. In fact, SMBs are often prime targets for hackers because of their perceived vulnerabilities.

Cyber ​​Attacks on SMBs: A Growing Threat

A new study has revealed an alarming trend in cyber attacks targeting small and medium-sized businesses (SMBs). The number of SMB users encountering malware and unwanted software will increase by 8% in 2024 compared to the previous year. This alarming statistic highlights the growing threat cybercriminals pose to businesses of all sizes.

For example, the June 2024 CDK Global cyber attack disrupted thousands of car dealerships due to two consecutive cyber incidents, highlighting the operational risks such attacks pose.

As these trends continue to evolve, SMBs must prioritize robust cybersecurity measures to protect their operations and customer data from increasingly sophisticated threats.

The motivations of cybercriminals

Howard Aiken’s famous quote, ‘You don’t have to rob a bank if you can own the bank,’ perfectly captures the mindset of modern cybercriminals. They are not interested in physical theft; instead, they seek to exploit digital vulnerabilities for financial gain. Their targets are varied, but smaller businesses, often with less robust cyber security measures, are particularly attractive due to their perceived ease of exploitation. Understanding their motivations is key to understanding the nature of modern cyber threats.

Financial gain: The primary motivation for cybercriminals is financial gain. While large corporations may have more significant assets, SMBs are often seen as easier targets. Hackers know that smaller businesses may not have the same level of cybersecurity as larger businesses, making them more vulnerable to attack. For example, ransomware is a common tactic where hackers encrypt a company’s data and demand a ransom for its release. SMBs are more likely to pay these ransoms due to their limited resources and the critical nature of their data. Data Theft: Data is the new gold, and every business, regardless of size, holds valuable digital assets. Cybercriminals are always on the lookout for valuable data, whether it’s customer information, intellectual property or financial records. SMBs often hold sensitive data that can be sold on the dark web or used for further malicious activities. Your personal information – email addresses, social security numbers, financial data or login credentials – is extremely valuable on the dark web. Entry points for larger attacks: SMBs can serve as a gateway to larger targets through supply chains or relationships with third-party vendors. Hackers often compromise smaller organizations to eventually reach larger partners. Ideological motivation: Although less common, some hackers target businesses for ideological or competitive reasons, regardless of size. Thrill-seeking: For some individuals, the thrill of successfully breaching a system can be addictive. This exciting behavior can drive amateur hackers to target SMBs simply for the challenge.

Common myths about cyber security

Myth #1: We have nothing of value

Hackers are increasingly focusing their efforts on small businesses. Regardless of the size of the business, these fraudsters frequently use automated technologies to detect weak systems. However, the lack of cyber security measures in place at many small businesses makes them more vulnerable to hacking attempts.

Myth #2: We are too small to be noticed

Don’t think you’re too small to be a target. Cyber ​​criminals do not believe in discrimination. Any business, big or small, can be a victim. Every business, from the smallest startup to the largest corporation, is a potential victim.

Myth #3: Cyber ​​attacks are only about money

Cyber ​​attacks are not just about money. Hackers can target companies for ideological reasons or to disrupt operations, potentially damaging their reputation or giving competitors an edge.

Myth #4: We have basic antivirus – we are safe

Don’t be fooled by basic antivirus. Cyber ​​threats have evolved, and hackers are using sophisticated tactics such as phishing and exploiting vulnerabilities. Basic antivirus is not enough to keep you safe.

How you can protect your business

Let’s consider your PCs, laptops and smartphones as the front lines of defense against cyber attacks. Endpoint protection is like a solid shield protecting these devices from hackers and malware. But just like a castle needs more than one wall, your business needs a multi-layered security approach.

Imagine a network firewall as a gatekeeper that controls who enters and leaves your digital castle. Data encryption is like a secret code, keeping sensitive information safe even if it falls into the wrong hands. Two-factor authentication is like having a trusted friend verify your identity before entering. And regular security audits are like inspections, to make sure your defenses are still strong.

Emsisoft’s layered protection feature provides a comprehensive defense against malware by combining multiple security techniques. The Swiss Cheese Model is an essential framework in cybersecurity, emphasizing the need for multiple overlapping layers of protection to mitigate risks. Emsisoft uses this model through various strategies, including web filtering, behavioral blocking, and endpoint detection. This multi-layered approach ensures that even if one defense fails, others remain active, which is essential to protect against dynamic cyber threats and ensure organizational resilience.

Deduction

In the ever-evolving landscape of cyber threats, small and medium-sized businesses are increasingly vulnerable targets. By understanding the motivations of cybercriminals, dispelling common misconceptions, prioritizing endpoint protection and multi-layered security, addressing the human factor and having a robust incident response plan, businesses can significantly reduce their risk of falling victim to cyber attacks . Remember, prevention is key in the world of cyber security.