New Bedford Small Businesses are a Prime Target for Cybercriminals

If you own a business in New Bedford, you probably don’t assume that hackers and cybercriminals have you in their sights. This is especially the case for small businesses.

Unfortunately, cybercriminals see small businesses as easy targets. They tend to have fewer protections, while still having plenty of resources to extort. Less risk, but a decent reward, and it’s all at your expense.

Understanding the Threat Landscape in New Bedford

With the increasing reliance on technology, small businesses have become prime targets for cyberattacks such as phishing, ransomware, and data breaches. The unfortunate reality is that many small businesses lack the resources and expertise to adequately protect themselves, making them attractive to malicious actors.

Small businesses often operate under the misconception that they are too small to be targeted by cybercriminals. However, this could not be further from the truth. Cybercriminals are increasingly targeting smaller enterprises due to their perceived vulnerability and the potential for gaining access to sensitive customer data. Phishing schemes, where attackers impersonate legitimate entities to steal information, are particularly prevalent. These attacks can lead to significant data breaches, resulting in financial loss and reputational damage.

The Impact of Malware and Ransomware

Malware, a malicious software designed to infiltrate and damage computer systems, poses a severe threat to small businesses. Once a system is compromised, malware can steal sensitive data or render systems inoperable. 

Ransomware, a specific type of malware, encrypts a victim's files and demands payment for their release. The financial burden of such attacks can be devastating, especially for small businesses with limited resources. Investing in robust cybersecurity measures is critical to safeguarding against these threats.

The average cost of a ransomware attack is a staggering $4.35 million. That doesn’t even include the cost of the average ransomware payment, which is now $812,360. These aren’t the typical annoying computer viruses that might disrupt your business for a couple of days and put you and your staff behind by a week. A ransomware attack can cause a major disruption to business that could take months or years to recover from. On average, ransomware victims take 326 days to identify and properly respond to an attack. 

This type of threat is a major risk to virtually any business—if you have computers, you are at risk. If you store important data, especially sensitive or personal information on your customers, clients, and staff, you are at risk. Your organization’s size, shape, and the industry you are in doesn’t change any of this (although some industries do tend to have even stricter regulations when it comes to protecting sensitive data).

Essential Cybersecurity Measures

Implementing comprehensive cybersecurity strategies is essential for small businesses to protect themselves from potential attacks. Here are a few cyber safety tips to consider:

• Regular Software Updates: Ensure all systems and applications are up-to-date with the latest security patches. Outdated software is an easy target for cybercriminals.
• Data Encryption: Encrypt sensitive data both in transit and at rest to prevent unauthorized access.
• Backup Solutions: Regularly backup data to an offsite location. In the event of a ransomware attack, having access to recent backups can minimize data loss.
• Firewalls and Antivirus Software: Utilize firewalls and reputable antivirus software to detect and block malicious activity.
• Multi-factor Authentication: By enforcing the use of MFA in your organization, you rely less on the shaky security of passwords and add an extra layer of protection.
• Active Cybersecurity Monitoring: Utilizing an IT company like Datalyst, you can have your network monitored to catch suspicious activity in real time.
• Employee Training: Educate employees on recognizing phishing attempts and the importance of using strong, unique passwords. Human error is often the weakest link in cybersecurity defenses.

Protecting Your New Bedford Business from Cyberthreats

For small businesses in New Bedford, understanding and addressing cybersecurity threats is not just an IT issue—it's a business imperative. By taking proactive steps to enhance cybersecurity, small businesses can protect their assets and ensure the trust of their customers. 

Cybercriminals are relentless, but with the right precautions, your business can stay one step ahead.

A good way to get started is to have your IT reviewed regularly by a trusted IT provider. We’d be happy to provide a free consultation to help your business gain insight into what it needs to do to stay safe.