Cyberattacks Cost Small Businesses More Than Money

Cyberattacks of all types are on the rise, according to the 2017 Annual Cybersecurity Report from Cisco, and when businesses get hacked, they stand to lose much more than just money.

How are cyber crooks getting in?

While highly complex cyberattacks are increasing, the Cisco report notes that “classic” attacks are on the rise as well. For example, adware that gathers information about a user’s computer without telling them and malicious spam emails are common attack methods. In fact, spam is flying at levels not seen since 2010. According to the report, almost two-thirds (65 percent) of all email is spam, and 8 percent to 10 percent of spam is malicious.

Another risk for businesses is when employees select and use their own third-party cloud apps on company computers. Respondents to the survey say 27 percent of employee-introduced cloud apps led to “significant” security issues for their companies.

What do you stand to lose?

Of course, money is at stake in any cyberattack—but businesses, especially small ones, often lose much more than that. Security breaches can affect all aspects of a targeted company, from its operations and finance to its brand reputation and customer loyalty.

More than half of the businesses surveyed that had their data breached were subjected to public scrutiny as a result.

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