The biggest cybercrime threats for small businesses

Nearly two out of every three businesses were victims of cybercrime in 2017, with small businesses being the most targeted.

It’s important that business owners be aware of possible threats. Here are three of the greatest cybercrime dangers to small companies.

Internet of things

While the term may not be very familiar, both small and large businesses use the Internet of things as part of their operations. The term refers to Internet connectivity in everyday objects that are enabled to send and receive data. However, many devices are not secure enough, providing hackers an open door to company information.

Are there devices in your business that could be part of the Internet of things, and thus a potential weakness in cyber security? Alarm systems, security cameras, fitness trackers and even medical devices such as pacemakers are all potentially part of the Internet of things.

Relying on algorithms

Companies lean more heavily than ever on computer programs to manage their operations. Although this increases efficiency, the removal of humans from these part’s of a company’s operations creates additional cybersecurity risks. Hackers are computer experts and hence also adept at manipulating algorithms. Companies should have staff members routinely monitoring operations and computer security and not been totally reliant on computers to do that work.

Lack of knowledge

If small businesses assume that they’re not significant enough to be targeted, they consequently don’t learn about cybercrime, its impact, or how to prevent it. To protect your business, look into webinars and other learning opportunities that are designed to help small businesses stay secure from computer security threats. The threats keep changing so it’s important to keep up to date.