According to Verizon’s 2020 Data Breach Investigations Report, small businesses are increasingly the target of cybercriminals. The report, which analyzed more than 157,000 cybersecurity incidents, found that 28% were directed at small businesses. Previously, cybercriminals have targeted larger organizations as the rate of return was often higher. However, a transition to cloud computing and the use of social engineering attacks, like phishing scams, has increased the risk for small businesses.
In response, it’s clear that small businesses need to prioritize cybersecurity as a data breach has an outsized effect on smaller organizations. Among other recommendations, the report encourages small businesses to invest in continuous vulnerability management, secure their email infrastructure to protect themselves from the growing threat of phishing attacks. It’s also essential that companies recognize and identify insider threat sources and eliminate them as quickly as possible.
Knowing that small businesses often lack the in-house cybersecurity resources to implement a 360-degree defensive strategy, MSPs have an opportunity to reach out to small business customers to build a partnership that fills that gap effectively and affordably to provide essential cybersecurity support in this tumultuous time. .
Using tools and services that support good password hygiene, offering things like single sign-on, two-factor authentication, and other password-oriented enhancements, and enforcing stricter password reuse and sharing policies can help mitigate the risk of password compromise through password reuse and weakness.
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