Small or Medium Sized Businesses are at Significant Risk of Cyber Attack

29/11/2018 15:57:01

Just because your business is not a Global Fortune 500 or MNC, doesn’t mean you don’t need to concern yourself with network security. Yes, larger corporations may seem to be a juicer target than a mid-sized factory, small university or smallish accounting firm – but your relatively small size no longer means you don’t show up on the ransomware and hacker radar. Let’s discuss a few reasons your SMB might be at particular risk of hacker intrusion.

SMB’s often have weaker online security standards compared to large companies. The use of legacy infrastructure, lack of budget for IT staff, lack of control or visibility of assets and lack of IT administrator hands-on experience with lesser known cyber threat puts SMB’s at particular risk.

SMB profit margins and customer bases have expanded rapidly through the use of cloud services (making them bigger targets) but while investment in cloud services is a game-changer, SMB’s often use cloud services with less powerful encryption compared to MNC’s who invest heavily in encryption.  In addition, expansion based on cloud services should always be accompanied by expansion of network security capabilities – and many times SMB’s skip this step.  

Landing a large account with an MNC, as an SMB, could potentially make or break the business in many different ways. SMB’s working with large corporations could be used as an entrance point to gain access to a larger multi-national corporate client’s databases or networks. Hackers who go to the trouble of hacking an SMB to reach their MNC client won’t hesitate to steal any information they run across. Also, should your client discover you were the weak link in the security chain, how long do you think you will maintain that account in the future?

Banks are less likely to reimburse a financial loss to an SMB if the company is found to have been lax in their financial security measures. This ensures that a single ransomware attack or malware attack has the potential to bankrupt an unlucky SMB and could put them at risk of significant fines for noncompliance, as with companies testing their luck against the new European GDPR standards.

Many SMB’s have a minimalistic IT department with 2-3 employees, meaning they are fundamentally short on time, years of experience and most likely short on resources, new technology and budget.  Compounded by BYOD policies, legacy infrastructure and the cloud – SMB’s leave themselves at the mercy of hackers, ransomware and threats like cryptomining which can utilize already limited bandwidth.

SMB’s often don’t have a security policy or train employees on the ins and outs of maintaining a safe network environment. Phishing emails growing more prominent, weak passwords and lack of visibility and control over browsing and applications is all a potential goldmine for hackers.

Working with a network security and cloud computing company with experience watching out for SMB’s is critical to the health and security of your business. The use of multiple components and third-party vendors means more pressure on your already overtaxed IT department and significantly more complexity across the board. The name of the game is convergence, simplicity and visibility. Sangfor Technologies has leveraged their years of experience working with SMB’s in the Asian market into innovative converged, simplified and highly visible solutions for almost every industry in every country. Sangfor’s Network Security Health Check, Next Generation Application Firewall (NGAF) and Security Butler will help you assess your needs, protect your business and gives you the power of security experts at your fingertips for a fraction of the cost.

To learn more about Sangfor Security solutions, email or visit our website!  To check the security of your network for free, send us an email to marketing@sangfor.com.

About Sangfor
Founded in 2000 and a publicly traded company as of 2018 (SANGFOR STOCK CODE: 300454 (CH)) Sangfor Technologies is the global leading vendor of IT infrastructure solutions specializing in Network Security & Cloud Computing. For more information about Sangfor, please visit our website http://www.sangfor.com.

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