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DATA SECURITY IS STILL A BIG PROBLEM FOR SMALL COMPANIES.

Cybercrime is making big headlines in the news almost every day. Recently, the hacking of Equifax was frontpage with the personal information of millions having been stolen. But huge companies aren’t the only ones being victimized by cybercriminals, small companies are also in the crosshairs of hackers.

Datto, which is a large business continuity provider and data security solutions firm conducted a study in which it found that small-to-midsize businesses paid about $301 million in ransomware or other similar malicious software that blocks access to a system until a ransom is paid to the hackers last year. The study also reported that 5% of all small to mid-sized businesses worldwide fell victim to ransomware.

It was also found that these kinds of attacks are increasing. The data from the report found that ransomware attacks more frequent in 2017 among small to mid-sized businesses as hackers are finding it easier to attack unprotected, or poorly protected servers.

Among one of the more noted ransomware attacks took place earlier recently. In the attack, a group of hackers used tools that are believed to have been stolen from the National Security Agency (NSA) to lock down computers in more than 150 countries across the globe. The software, known as WannaCry, locked computers hospitals, government buildings, central banks and big corporations.

Small companies are no safer than large companies and corporation and are being targeted even more as they are perceived as having less, or no security on their networks. Once a ransomware attack is under way there is very little that can be done so all the efforts need to be on prevention.

For smaller companies, the prevailing advice from most data security firms is to maintain an effective disaster recovery plan which should include a complete backup solution for important mission critical data. In the event of an attack, backups can be used to limit the amount of downtime. Ongoing education on cybercrime security measures is another good way to combat the threat.

By UNIKO Media Group