The risk for cyber espionage continues to evolve as perpetrators are targeting small businesses at an alarming rate. Symantec, a bellwether in the web-security space, recently announced that attacks surged almost three-fold for small businesses or those with less than 250 employees.
Small businesses now account for more than 31% of all web attacks or greater than 300 million incidents annually. Given this backdrop, should your business consider investing in greater security measures and cyber liability insurance?
Why are small businesses being targeted?
Attackers are recognizing now that it’s more effective to go after the weakest link than to focus on the largest companies in the world. If they can attack a million different websites with ease versus one large website, it’s more strategic for them to go after the small players. The data that these cyber criminals are targeting include bank account information, customer data and intellectual property. (more…)