BlackFog Research Shows SMBs are Cybersecurity Negligent
June 23, 2023
Cheyenne, Wyoming. According to BlackFog, 61% of small to medium sized businesses (SMBs) were successfully exploited by a cyberattack in the past year. The focus of the study was the effect vulnerabilities and successful hacks have on SMBs in the US and UK. BlackFog found that collaborating with partners on security innovations is critical to mitigate nefarious entry. "Cybercriminals naturally gravitate towards targeting organizations with the lowest level of protection and this typically means small to medium business come under fire", said Dr. Darren Williams, Founder and CEO of BlackFog.
SMBs are not just facing singular attacks, they are becoming targets for continual cyberattacks. The research included 87% of IT management reported more than two attacks on their system within the last year. Successful exploits included data breaches, malware, or ransomware attacks.
Based on data collected, the most significant attacks on SMBs causes downtime losing money for all stakeholders. A third of the interviewees explained they had lost customers to cyberattacks causing delays. Maybe the worst scenario, 39% of companies lost customers personal details and/or financial details. Businesses no doubt lost credibility within the market.
Trust Your Partners
Maybe, the most important aspect of the research is 26% of respondents believe that colleagues in their company are the most trusted, followed by analysts and colleagues outside of their organization.
"There is a huge opportunity for solution providers and partners to build new relationships in this market, as SMBs struggle to navigate a rising tide of growing cybersecurity threats. Now, more than ever, as a trusted partner, MSPs have an important responsibility to ensure their client’s data is protected from extortion", continued Dr. Darren Williams
For more information, visit blackfog.com