Ransomware Puts Small Businesses in its Sights
Ransomware is increasingly targeting small businesses, which are often overlooked in cybersecurity efforts. These enterprises are vulnerable due to exposure to cyber criminals seeking accessible data like user records and financials, especially with many workers operating remotely. This trend has been accelerated due to the pandemic.
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Key takeaways
Cyber criminals are increasingly targeting small businesses for their accessible data.
Two in five small businesses were impacted by ransomware in 2020, highlighting the vulnerability of this sector.
Remote work environments increase vulnerability to cyber threats, particularly for small businesses.
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Tech security is important in business, but an often-overlooked sector is the small business sector. Cybersecurity for small businesses is a rapidly growing concern, with criminals targeting enterprises of every size. Companies’ data, such as user records, financials, and identity documents, can be tempting for criminals looking to make easy money and use that info for other crimes.
On this episode of In The Cloud, Host Hilary Kennedy talked with Chase Norlin, the CEO of Transmosis, a nationally recognized cybersecurity Workforce Developer and the creator of transmosisONE, military-grade cybersecurity protection for small businesses. Norlin is a serial technology entrepreneur that founded the Internet’s first online video sharing platform and one of the first video search engines, photo sharing services, and video ad networks.
Two in five small businesses were impacted by ransomware in 2020, and 41 percent of business owners had a cybersecurity mishap related to COVID-19. These attacks are happening everywhere, and they were accelerated during the pandemic.
“Cyber fraud is on the rise, regardless of all these new factors that come into this,” Norlin said. “Obviously, the increase in remote work environments makes businesses of all shapes and sizes more vulnerable especially small businesses.”
While employees are working on unsecured networks at home and various coffee shops, it opens up the opportunity for more cybersecurity threats. Employees previously worked in offices on secured devices and networks, things that might not be available at home, at least not immediately.
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