Quick Intelligence Blog

If you are starting a new business, you want to get on the Internet. Businesses like yours get on the Internet for many reasons, but the most basic one is that to gain and retain customers, you need to have an Internet presence. There is a risk associated with having an Internet presence. Whether you have an informational website, an eCommerce website, or are transferring data through the cloud, the benefits of being online do come with some risks.

In general, resilience refers to the ability to bounce back quickly after adversity. Cyber resilience refers to being able to quickly recover from a cyber security challenge. In today’s cyber world, companies that are cyber resilient are the ones who will continue to thrive.

Many organizations feel that being prepared for a ransomware attack is futile. This couldn’t be further from the truth as told by BleepingComputer. Their article about the REvil ransomware attack on Kaseya VSA customers mentioned that many victims refused to pay the ransom. The reason: Backups!

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.

One of the biggest stories in cybersecurity has been the big increase in ransomware attacks. Even though ransomware is not a new threat, it seems that attacks are happening more frequently. Barracuda researchers reported that they’ve identified and analyzed 121 ransomware incidents so far in 2021, which is a 64% increase in attacks. The ransom demands are also getting bigger, with Palo Alto Networks’ Unit 42 finding the average ransomware payment had risen to $925,162.00 during the first 5 months of 2022. That is up 71% from 2021.

Businesses tend to think about insuring against typical things like theft, floods, and fire. Has your business ever considered insuring its data against theft? How about insuring your business against cyber attacks?

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. 

There is no doubt that ransomware continues to still be considered a big threat to businesses. The UK's National Crime Agency (NCA) warns in this report that the overall threat from cybercrime has increased during the past year, with more severe and high-profile attacks against victims. Particularly concerning for the NCA is the growth of ransomware "causing harm to our citizens and communities on a significant scale."

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.