There are some sobering statistics on the impression of an assault. US small companies paid over $16,000 in ransoms final 12 months, in response to the Hiscox Cyber Readiness 2023 report. “Ransomware is costing small companies in a giant manner,” says Christopher Hojnowski, VP and product head of know-how and cyber at Hiscox insurers, who works with over 600,000 small companies throughout the US.
Solely half of surveyed companies that paid a ransom ended up getting their knowledge again, whereas half needed to rebuild techniques. As well as, a staggering 27% have been attacked once more, and one other 27% have been requested for extra money, the survey discovered. “It’s actually not advisable to pay the ransom,” says Hojnowski.
3. Viewing cybersecurity as only a know-how downside
Cybersecurity can’t be addressed with know-how alone and in some ways it’s a human downside, in response to Sage. “Know-how permits assaults, know-how facilitates stopping assaults, know-how helps with cleansing up after an assault, however that know-how requires a educated human to be efficient, no less than for now,” they are saying.
This additionally feeds into different issues, that are an absence of finances and no devoted duty for cybersecurity. “These are vital challenges for SMBs, leaving them with out steering on compliance frameworks and a transparent path, and reliant on suppliers for assist,” says Iqbal.
