Quick Intelligence Blog

Many companies approach cyber security simply by using tools and technology to protect their networks. While this is an important step, it is also important to build a culture of cyber security.

If you believe your company is too small to be targeted by cybercriminals, think again. Due to their lack of substantial cyber security budgets, small businesses are often viewed by hackers as “low hanging fruit,” or easy targets. Statistics confirm this as well.

The ability for online banking has made our lives simpler. We can bank from the comfort of our homes, or anywhere in the world without having to go to a physical branch. Cryptocurrency has also brought investors a new revenue stream that keeps on growing. While all this is great, there is a risk involved when it comes to using financial information on the internet.

The growth of ransomware continues, leaving many cybersecurity experts to wonder if there will ever be an end? The numbers for 2021 do not paint a good picture. Sophos says the average ransomware payment has increased to $812,260 compared with the 2020 average of $170,000. Worse still, the number of ransoms over $1 million has risen to 11% up from 4% in 2020.

Has this ever happened to you? Company X gets breached and you receive an email telling you that your password has been stolen and you need to change your password. If you’re wondering how much time you have to reset your password before your account is compromised, the answer, according to cybersecurity researchers at Agari, is not very long.

If you think your business is too small to be of interest to a cybercriminal, think again.  While big companies make the headlines for their data breaches, small companies are also an ideal target for hackers.  "Small businesses can be a really sweet spot for cybercriminals. They have more money to steal than a consumer and less security in place than a large business," said Kevin Haley, director of security response at Symantec. 

During the COVID-19 pandemic, we were warned about the cyber risks associated with a remote workforce. There is also a risk upon a return to the office.

Some small business owners are under the mistaken impression that cyber security is only for larger enterprises. They often think, “why would a hacker want to attack my little business, when there are larger enterprises with more money and data to steal?” The reality is that small businesses are attacked often, they just don’t generate headlines the way larger businesses do. Unlike those large enterprises, 60% of small businesses will permanently close 6 months after a data breach. To avoid having your business close, read about the 6 big cyber security risks putting small companies out of business, along with tips on how you can minimize that risk.

If you are looking for the weak link in the cybersecurity chain, you will find it in people. People make mistakes. Hackers are great at exploiting vulnerabilities in software, but the easiest vulnerability for them to target is people. People can be too trusting which can lead to hackers easily gaining access to systems and information.

Have you heard of social engineering? If you are worried that it is something complicated and technical, have no fear, it’s not. Social engineering is as old as time itself and doesn’t need fancy technology. Criminals and fraudsters use social engineering techniques to trick people into giving them access to restricted areas. Once the criminal has gained access, they can then use that access to commit whatever crime they wish.