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Top 3 Cybersecurity Threats SMBs Must Be Aware Of

What are 3 cybersecurity threats SMBs should know?

A business’s data and information are a direct reflection of its customers, and without comprehensive cybersecurity solutions safeguarding them from malicious actors, small and medium-sized businesses (SMBs) can stand to lose much if cybercriminals successfully gain access to their systems and steal data.

However, information security is not a lost cause. In the SMB space, there are technology companies—managed service providers (MSPs)—whose expertise covers managed cybersecurity services and threat trends.

With an MSP’s support, your business will stand a better chance of avoiding or lessening the impact of cybersecurity threats.

3 cybersecurity threats SMBs face today

According to an AdvisorSmith report, “69% of small businesses are concerned about being the victim of a cyberattack”. It is an alarming figure that demonstrates the commonality of security breaches and brings attention to the range of cyber threats that are threatening (and will continue to threaten) companies.

There are three security threats that all SMB owners ought to be aware of:

1. Malware

Malware describes malicious programs that cybercriminals use to penetrate and damage business’ networks. They can also be used to steal sensitive information and corrupt files. Malware can be distributed through emails, fake advertisements, or even by users visiting malicious websites. It is a cyber threat that impacts organizations of all sizes, and can lead to data breaches and reputational harm if left unchecked.

Common types of malware attacks include:

  • Spyware: Programs that access networks (without the knowledge or permission of the user) to collect personal information, such as your browsing history and passwords. 
  • Rootkits: Gives its deployer the ability to control your computer with privileges typically reserved for authorized personnel. Rootkits can be spread via phishing attacks, sharing infected hardware (such as USBs), and more.
  • Worms: Malware that can spread through networks via self-duplication. Worms can be used to serve several purposes, from disrupting files to instigating other cyber-attacks.
  • Trojan viruses: Deceptive malware disguised as “safe” material. Trojans use their disguise to mislead victims into downloading and opening malicious files.
  • Adware: Programs that display unsolicited advertisements on your devices. These ads can collect your data or be used to direct you to dangerous websites.

2. Ransomware attacks

Ransomware is a branch of malware that leverages multiple attack vectors—phishing links in emails, downloading unsafe software, etc.—to infect a computer and encrypt its data. The perpetrator then demands a ransom to decrypt the data, forcing businesses to pay up or have their customer’s data leak to the Dark Web (or any type of scenario that sees your customers’ information left vulnerable and your company’s reputation damaged). 

Today’s cybercriminals also operate a venture that leverages the software-as-a-service (SaaS) business model, where the perpetrator essentially offers customers the tools to run their own ransomware. Known as ransomware-as-a-service (RaaS), RaaS-supported ransomware can give anyone the ability to develop and launch their own cyber-attack on SMBs, effectively widening the audience of potential cybercriminals companies must contend with.

3. Poor cybersecurity posture

Your cybersecurity posture is your company’s policies, procedures, and protocols for protecting data and network systems from cyber threats. It is the status of your cybersecurity measures and their relevancy in relation to present and emerging threat trends.

A poor cybersecurity posture can leave your business more vulnerable to malicious codes and actors. This can set your organization’s initiatives back, ultimately making you less competitive and ill-equipped to recover from the actions of cybersecurity threats. 

Components of a poor cybersecurity posture can include:

  • Reliance on legacy systems
  • Inconsistent patch updates
  • Little-to-no cybersecurity awareness
  • No business continuity and disaster recovery plans (or out-of-date/unclear plans)
  • Legacy or irrelevant cybersecurity solutions
  • Disorganized password management and unsafe habits (e.g., weak passwords)

How managed cybersecurity services can help SMBs deal with cybersecurity threats

Organizations that provide managed cybersecurity services offer an IT team that contains unparalleled expertise in all areas of digital security and business continuity. Managed security service providers leverage the latest and most effective cybersecurity technologies, and have the resources to implement them into your business’s security operations.

While there is nothing stopping your in-house IT department from serving as your organization’s security staff, many of the processes that go into effective security management can be time-consuming—time that your employees could be spending on assignments that unlock new opportunities for business growth.

Managed cybersecurity services serves as an all-in-one security operations center, with cybersecurity experts who are trained and ready to guard your business’s information at cost-effective rates.  

Their services can include:

Prepare for the future with fully managed cybersecurity services

Your company’s future is bright, and the data your customers offer to you will help take it there. Ensuring that this information is protected with advanced security solutions and practices should be a top priority for you, but with cybersecurity being a 24/7 initiative, outsourced help can be invaluable (especially when your team and clients demand your attention).

The cybersecurity services at Skynet MTS are specifically tailored to the needs of SMBs. From helping you develop solid data security strategies to training your employees on the importance of strong passwords, the cybersecurity specialists at Skynet MTS can help you strengthen your cybersecurity posture (while actively monitoring and responding to threats) to keep your business operational and your reputation safe.

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