By some estimates, network-based attacks, such as DDOS (short for Distributed Denial of Services), which have the ability to take down large computing networks, have increased by 700 percent this year.
Targeted DDOS attacks against internet service providers, domain registrars, web hosting providers, and individual businesses have been known to cripple thousands of websites simultaneously for extended periods of time.
Instances of hacking—or cyber intrusion tactics—have also become increasingly brazen and widespread. In July, 2013 federal prosecutors indicted five hackers in what is being called the largest data-theft ring in U.S. history, their victims as varied as J.C. Penny, JetBlue, and NASDAQ.
Even major technology brands, like Apple, who possess near-limitless resources to protect themselves against such attacks, are vulnerable. A recent security breach shut down its developer website, causing the Cupertino giant to issue an apology with an admission that personal data of some of its third-party app developers—a relationship worth billions to
So, as small-business owners, how worried should you be? After all, if Apple is vulnerable, what chance do small businesses stand?
A recent report from cybersecurity firm McAfee might offer us a good point of reference.
According to this report, released earlier this month, the costs associated with criminal cyber activity in the U.S. alone may be as much as $140 billion—and a half-million American jobs—annually.
The report also included this interesting point of comparison: the annual costs of car crashes in the U.S., which is estimated to be anywhere between $99 and $168 billion.
Auto accidents, as it turns out, provide us with a nice analogy when it comes to how much we should worry about—and how we should prepare for—malicious and targeted cyber activity against our businesses and livelihoods.
With driving, most of us choose to mitigate our risks a number of ways. It involves training, awareness, the safety standards of our vehicles, and, of course, insurance coverage.
As most of us understand, our chances of being involved in an auto accident are relatively high; and, as it turns out, so are our chances of being a victim or target of cybercrime. In fact, it’s much more likely that your small business will fall prey to a cyber attack.
According to a survey authored by the Ponemon Institute, a research firm that conducts independent research on privacy, data protection, and information security policy, more than half of U.S. small businesses experienced at least one data breach.
In today’s world of constant risk-assessment, that’s a pretty big risk to be left unmitigated.
Luckily, there are a few relatively simple—but critical—steps your business can take immediately to protect itself.
Check back here over the next few days to learn how to prevent cyber crime and how to detect if your website or business machines have been compromised.
