The announced takeover of First Republic Bank by JPMorgan Chase last week set off a sharp increase in phishing attempts & scams involving both banks, primarily targeting the small and medium-sized business (SMB) community. Despite the attitude among many small business owners that hackers only go after behemoths, smaller companies make increasingly attractive prey. In fact, these overnight changes in the banking industry are an ideal opportunity for hackers because they know the public is likely unaware of the details and are more susceptible to a scam.
Cyber risks and threats continue to evolve and grow in sophistication. Cybercriminals know that weaker security measures make small businesses easier to crack than larger enterprises. Small businesses are generally not financially prepared for an attack, and most lack cyber insurance.
For many in the SMB community, a successful cyberattack may even put them out of business.
Attackers are using clever fraudulent and/or deceptive messages designed to trick recipients into either revealing sensitive information to the attacker or deploying malicious software, like ransomware, on the victim’s electronic devices. In 2023, phishing occurs through text message (“smishing”), voice or video calls (“vishing”), and even fraudulent QR codes (“qishing”).
Although small and medium-sized businesses are under increasing pressure to meet expectations for operational resilience, and a greater number are waking up to the reality that they are prime targets, many still do not institute the full range of best practices that help mitigate cybersecurity risks. One of the most important and effective safeguards is Cybersecurity Awareness training for employees.
Studies show that human error is a leading cause of cybersecurity breaches. Cybercriminals often use tactics like phishing and social engineering to trick employees. The best defense against a cybersecurity breach is prevention. Small and medium-sized businesses must educate their employees about cybersecurity best practices, such as how to identify phishing scams, create strong passwords, and secure sensitive data.
Cybersecurity awareness training is a cost-effective solution that can help small businesses to prevent cybersecurity breaches and protect their customers' data. Training can also help to reduce the risk of downtime and lost productivity caused by a breach. There are several types of cybersecurity awareness training programs that small businesses should consider.
Here are some of the most common types of cybersecurity awareness training.
Cybersecurity awareness training is essential for small businesses because it can help to prevent cybersecurity breaches, protect sensitive data, and comply with legal and compliance obligations. Investing in cybersecurity awareness training is a proactive measure that can help small businesses to avoid costly cybersecurity incidents and protect their reputation.
Roark Tech Services offers expert cybersecurity advice. We supply a full range of safeguards to protect small businesses. If your business is questioning the right time to address cybersecurity concerns and which direction to move in, call us to understand how we can help your business maximize technology and productivity with a safe and managed approach. We offer white glove, personalized technology services and support. Roark Tech Services is an expert in fit-for-purpose technology solutions exclusively for Small and Medium-Sized Businesses. Always consult with us first. If you don’t have an IT Partner that you can trust to give you the right support and advice, we’d love to help. Contact us.