The Top Cybersecurity Threats for Small Businesses in 2023
On the surface, it’s understandable why so many small businesses fail to take their cybersecurity seriously.
“Why would any hackers want to target my small pet toy company?”
“None of my passwords have my birthdate in them!”
“I never click on any pop-up ads, so why bother with cybersecurity, right?”
But the fact of the matter is that small businesses are particularly vulnerable to cyber attacks for a number of reasons. In fact, research shows that 43% of cyber attacks are aimed at small businesses, and cyber-criminals can infiltrate approximately 93% of company networks.
Because small businesses often lack the resources of larger corporations, it’s harder for them to sufficiently invest in cyber-focused commercial security systems. They also typically have less experience dealing with cybersecurity threats whenever they do arise.
Because of all these factors and plenty more, small businesses are often the target of cybercriminals looking to exploit vulnerabilities in network infrastructure design. As we inch our way further into 2023, the need for small businesses to start taking their cybersecurity seriously is all the more imperative.
To better protect your business from digital vulnerability, here are the top five biggest cybersecurity threats that small businesses should be on the lookout for in 2023.
1. Malware
It’s one of the biggest cybersecurity threats in the past decade, and it’s sure to be one of the biggest cybersecurity threats small businesses need to be aware of in 2023. Malware is a type of malicious software that is designed to damage or disable computers. It can be used to steal data, destroy data, or even take control of a computer.
Malware can be spread through email attachments, websites, and even social media posts. Everyday, around 560,000 new pieces of malware are detected every day, and an average of four companies fall victim to ransomware attacks every minute.
2. Phishing
The amount of corporate phishing cases has ballooned in recent years, as this cybersecurity threat is often attributed to more personal, isolated cybersecurity incidents. Phishing is a type of cyber attack that involves sendings emails or messages that appear to be from a legitimate source in an attempt to trick the recipient into giving out personal information such as passwords or credit card numbers.
Recent statistics find that an estimated 25% of all data breaches involve phishing, with 85% of those cases being the result of a human element such as clicking on a malicious link or opening a targeted email.
3. Denial of Service (DoS) Attacks
As opposed to phishing and malware, Denial of Service (DoS) attacks are a lesser known and understood cybersecurity threat in today’s corporate world. A DoS attack is when a hacker overloads a website or server with requests, making it unavailable to legitimate users.
This can be done by using a botnet, which is a network of infected computers that can be controlled by the attacker. If successfully carried out, DoS attacks can cost small businesses significant amounts of money to fix a misconfigured network, not to mention excess amounts of time to address the issue.
4. SQL Injection
SQL injection is a type of attack that allows an attacker to execute malicious code on a database. This can be used to delete data, extract information, or even take control of the database.
If your small business has saved data or files that contain sensitive information for employees and clients alike, an SQL injection can prove to be quite the costly misfortune. For starters, it can allow a hacker to gain access to any email addresses, usernames, and passwords saved in your database, meaning all of your digital contacts can also be susceptible to the same SQL injection attack.
5. Password Attacks
Password attacks are when an attacker tries to guess or brute force their way into a computer or account by trying different passwords. This can be done by using a dictionary attack, which is where the attacker tries common words and phrases, or a rainbow table attack, which is where the attacker has a list of pre-computed hashes of common passwords.
It’s estimated that 90% of passwords are vulnerable to attack, which is why every small business needs to frequently change their passwords to their email account, network system, or any other cyber-related networks or devices, just to be on the safe side.
Protect Your Small Business From Cybersecurity Risks
To defend against these threats, small businesses need to be implementing modern commercial security systems such as firewalls and intrusion detection systems into their current network infrastructure design. They should also have a comprehensive cybersecurity plan that includes employee training on how to identify and respond to potential threats.
Upgrading your cyber and commercial security systems can be complex and costly, but the benefits far outweigh the cost for most businesses. That’s why we here at Telecom Technologies are dedicated to helping your small business boost its cybersecurity resources to ensure you don’t have to deal with any worst case scenarios regarding your digital security.
To equip your company with all the latest advancements in telecommunications equipment, contact Telecom Technologies today to significantly reduce your risk of cybersecurity threats!