Why Cyber Criminals are Targeting Small Businesses
Grant Ackerman • September 23, 2021
Small Business owners often underestimate the risks that they face in the world of cyber-security.
82% of small business owners believe they will not be subjected to a cyber-attack
according to Towergate Insurance. Small business owners generally believe that since there are bigger fish to fry out there, hackers are unlikely to target them...however, this couldn’t be further from the truth.
Many SMB’s have substantial sets of data
such as credit card numbers, employee names, customer addresses, trade secrets and other private information that can be very valuable to the company and their customers; this data is often left completely unprotected. A prime target for hackers.
Meanwhile, larger corporations are spending obscene amounts of cash each year
to protect their valuable data. In 2020 Microsoft pledged to spend at least $1 billion per year on cyber-security and in 2019 the US President’s Budget set aside $15 billion for the same purpose. That’s about $46 per person in the US or .3% of the entire nation’s budget! In the eyes of a cybercriminal, even though a large corporation like Google or Microsoft have vastly more money to pay out for ransom than a small business, the difficulty and risk involved with breaking into their systems makes the prospect unjustifiable to a criminal.
For a small business just starting out, cyber-security is often the last thing on the business owners’ minds.
They’re much more likely to be thinking about things like profit margin and how to keep growing the business. While these concerns are certainly important, business owners often lose sight of the bigger picture and forget to ask themselves:
Are we safe from cyber-attacks?
What would happen if we were hacked?
Is my data backed up and safe?
How long would it take to restore vital systems and their data?
“These attacks have devastating impacts for any business, including data loss, employee downtime and the cost of restoring operations. Data breaches often result in reputation damage, legal damages and financial loss, with the total cost of a single data breach averaging $149,000 for SMBs. For those with limited resources, an attack can prove fatal, causing a reported 60% of small businesses to close their doors following a cyberattack.”
-YEC, Forbes Council 6/2/21
It is now more important than ever for small business owners to secure their assets
from potential attacks. The risk and likelihood of an attack has never been higher; according to a study done by CISCO 61% of SMBs reported falling victim to at least one cyber-attack last year.
At EV-Consultech, we do everything in our power to ensure our customers won’t be subjected to one of these attacks including email filtering and employee training with IRONSCALES, anti-virus, and more. If a customer still falls victim to an attack, services we offer like Acronis will ensure your data’s integrity; offering encryption, multiple backup locations, and disaster recovery. If a computer crashes or is hacked and rendered useless, its cloud backup can be used as a virtual machine for instant recovery.
The following videos by Acronis and IRONSCALES further explains the effects, scope, and scale of recent cyber attacks on SMBs and how these services help keep our customers safe:
CrowdStrike: An International Inconvenience
STOP
Your Shield Against Insider Attacks
Password Managers
Cyber Insurance
In today's day in age, the use of AI-generated platforms has become increasingly popular across the internet. These platforms allow for a fast and facilitated way to complete tasks such as professional work, education, or expanding one's personal knowledge. Anyone has the ability to discover new or pre-existing information regarding a multitude of topics by simply imputing their inquiries on platforms such as Chat GPT. Chat GPT has had a striking impact on society because of how easy it is for people to gather information on any topic. The platform provides information on anything asked through its online chat and it does so with a fast response. However, Chat GPT and AI-generated platforms can have potential risks such as... Data Breaches Data breaches can happen when using any type of online platform, especially those generated by AI. Chat GPT must be accessed through a web browser since it cannot be downloaded. Because of that, data breaches can occur if an unauthorized party gets a hold of your online chat logs, personal information, or any other sensitive data. A few consequences are: Privacy compromises : If an unknown person or group gains access to your personal information through the platform, your privacy has been compromised and you identity could be exposed. Identity theft : Cybercriminals could use your personal information to act under your name rather than their own. They would steal your identity by using it against you in order to perform fraudulent actions. Misuse of data : User data could be subject to misuse when a data breach occurs on an AI platform. With that, your information could be used without your consent for suspicious activity online. Open AI appears to be taking accurate cyber security measures in order to make it less likely for data breaches to take place. However, not all systems are free from errors or breaches in security, and Chat GPT is a good example of this. Access to Confidential Information Chat GPT has the ability to use personal information entered into the online chat by its users. In order to ensure the user's safety and continual privacy while using the platform, it's best to not exploit one's own information when using the AI chat. Gaining access to user information isn't easy for an AI-generated platform to achieve, but if the user provides the data themselves, it can have some consequences. Biased or Inconsistent Information An additional risk in using Chat GPT is that it could potentially provide biased or inconsistent information to its users Because of the wide range of information the platform contains, it could possibly generate false data that could be confused for something else. This can definitely affect industries or companies that use AI-generated content for their line of work These businesses could provide faulty service to their customers all due to the misleading data given by an AI platform. This has the potential to hinder the company’s advances and overall performance as a result. In the end, it's up to the user and the user alone how they interpret the information given by the AI chat bots; it could be completely right or completely false. Question: Is it safe to use? In certain aspects, Chat GPT contains multiple potential threats to one’s online experience. A platform such as this one can provide misinformation and exploit your personal information. However, it can still be used without problems if certain measures are taken accordingly. Safety Measures You Can Take: Browse on and interacting with AI platforms through anonymous accounts Keep personal or sensitive information private Review the platform’s privacy policy and be well-informed about its activity To conclude, yes, Chat GPT is safe to use as long as it is used responsibly and accordingly to reap the benefits. These types of platforms will continue to be prevalent in the world for years to come and it’s important to know how to ensure we have the best experience with AI. Where can I learn more about the effects of AI for my business? At EV-Consultech, we can answer any questions or concerns you may have regarding the influence of AI. Learn more by contacting us below.
Why Using A.I. Chatbots Will Impact The Way You Conduct Business
Pandemic Impact
When an employee decides to leave a company, there is an offboarding process that needs to happen. This process “decouples” the employee from the company’s technological assets and is vital to cybersecurity.
The pandemic has been a reality check that companies all around have shared. It required major changes in how they operate. No longer, did the status quo of having everyone work in the office make sense for everyone. Many organizations had to quickly evolve to working through remote means.