Top 5 Cybersecurity Threats for Small Businesses

In today’s digital age many large corporations are facing the threat of cyberattacks. In 2021, according to a report by IBM, manufacturing was the most hit industry followed by finance, business services, energy, retail and healthcare industry.

With a low level of security and less cybersecurity awareness, your small business is indeed a high target for cyberattacks. In this blog post, we will share with you the top five common cyberattacks so you can understand the different threats to protect your small business:

1. Ransomware

A ransomware attack is designed to lock you from accessing the most critical information in your business. Cyberhackers will pressure you to pay a hefty amount of money to regain access to your data.

Typically, people behind this attack will give you 24-48 hours to pay for the ransom to prevent losing your files or publicly sharing compromised personal information of your customers.

2. Phishing

This cyber threat is designed to target humans by using social engineering. A cybercriminal will send your customers a text message or an email that looks trustworthy and will require them to provide their personal information. They aim to steal bank information, social security numbers and passwords.

This is a very serious threat because cybercriminals may engage in other malicious activities acting on behalf of your business that could potentially ruin your reputation and result in lost customers.

3. Malware

Cyberhackers create a kind of code to gain access to your network so they can destroy or steal critical data. Malware usually comes from spam emails, malicious websites or infected devices. Once inside, the malware will change your computer’s settings and permissions without your knowledge.

Malware can also spy on your activity. This poses a big threat since malware could totally disrupt your business operations.

4. Viruses

There are many kinds of computer viruses, but all are designed to infect your hardware. The tricky thing about viruses is sometimes you don’t notice them immediately. Over time they can slow down your computer and harm other files on your device.

5. Weak passwords

Don’t be too complacent when creating your passwords, especially for your business. Cyberhackers have become too advanced in cracking passwords.

As a small business owner, be smart with creating your passwords and get in the habit of frequently changing your password to increase security.

No business or company is safe from cyberattacks. As a small business owner, it’s imperative to take extra measures in protecting the most critical data within your organization and ensure your employees are given proper training on these kinds of cyber threats.

At Clark County Credit Union, the safety of our valued members is our top priority. To learn more about how we implement safe online banking practices click here for more information. If you have any other questions or concerns, please reach out to our team at 702-228-2228.