Nowadays, it is crucial that financial institutions protect their businesses from the ever-diversifying forms of cyber attacks: including phishing attacks, DDoS threats, ransomware, PoS hacking, and social-engineering compromises. Even a single vulnerability can prove fatal for a small financial services firm. Statistics point to the fact that criminals don’t just target big businesses. In fact, ransom-seeking cyber criminals will specifically target small businesses 43% of the time according to the 2019 Verizon DBIR. Financial institutions are especially vulnerable: as the breach rate has more than tripled over the past five years.
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Year after year we’ve seen how ransomware attacks are still on the rise. Why? The answer is simple because they are still profitable for hackers. While some businesses are prepared to deal with it as an inconvenience, the majority don’t have essential security best-practices in place.
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Growing a Connecticut small business is not easy, especially now that the state faces an economic crisis. Every decision that business owners make needs to keep in mind a return on investment or savings in overhead.
Cybercrime is a very real problem for small businesses in Connecticut. Hackers are coming up with new ways to break into networks, steal confidential customer data, and wreak havoc on business systems. Connecticut is among the top riskiest states in the US when it comes to cybercrime, with almost three-quarters of Connecticut businesses having suffered a cyberattack in recent years.
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After years of working with small businesses on cybersecurity, we understand the impact a security breach can have on an organization. It’s a time of high stress, tight deadlines, and competing priorities.
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