SMEs are an easy target for cybercriminals looking to make an easy buck this Black Friday.
An attack costs local businesses around R50 million which would be catastrophic for an SME.When it comes to cybercrime, small businesses are often the most highly impacted by attacks. Locally, a data breach canCybercriminals are constantly looking for new attacks methods and ways to exploit gaps in security. While large enterprises can rest easy knowing a dedicated team is fending off intruders, SMEs don’t have the same luxury.
In addition to reputation and money, there may also be legal implications for a business. Legislation such as the Protection of Personal Information Act puts stringent rules in place for businesses who collect any sort of data. Something as simple as poor password hygiene could end up not only ending in a breach, but fines and potentially even prison time.
And criminals are well aware that SMEs are an easy target given that they may not have the expertise available to fend off an attack. “One of the most critical aspects is employee training. Introducing multi-factor authentication instead of just a password and providing regular training sessions that teach staff to recognise phishing attempts and identify suspicious online activity can significantly reduce the risk of human error leading to cyber breaches,” the head of IT explains.
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