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| The European | 7 January 2021

Cyber attacks can be especially devastating for small business, but luckily Trust365 offers a full suite of products and tools to help bolster your defences 

Small businesses stand to lose more from cyber security attacks than large enterprises. Many believe their business is too small to be a target, the “security through obscurity” theory – this is no longer the case. Today’s automated attackers can target thousands of small businesses simultaneously. And they are often easier targets than larger organisations, with less effective cyber defences, less awareness of threats, and less time and resources to invest in proper cyber security. 

Even the smallest businesses can deal with large sums of money, or work with valuable customer data which, under regulations such as GDPR, they are required to protect. Small businesses are also often used by hackers as a route into larger companies, exposing them to high levels of risk and indemnity. 

A recent report revealed that businesses with less than 500 employees lose on average £2m per successful breach. This is devastating to most small businesses, even before considering the reputational damage inevitably caused. 

Every small business needs to be critically aware of the five major cyber threats and take action to prevent them.

Phishing 

The most widespread, most damaging cyber threats facing small businesses are email phishing attacks, where hackers pose as a trusted contact with devastating effect. Phishing accounts for 90% of all breaches, with attacks up 65% over the past year and over £10bn in business losses in the UK alone. 

TrustiMail solves the dual threat of inbound and outbound Business Email Compromise. It offers the most complete email security solution available to SMEs, for the lowest cost. 

Malware 

Malware is the second big threat facing small businesses. It is a varied term for malicious code that hackers create to gain access to networks, steal data, or destroy data on computers. Malware usually comes from malicious website downloads, spam emails or from connecting to other infected machines or devices. TrustiSite offers a complete anti-malware solution, which is easy to deploy and to use. It offers persistent 24/7 protection. 

Ransomware 

Ransomware is one of the most common cyber attacks, facing thousands of businesses every year with a tough choice – to pay the ransom and potentially lose huge sums of money, or cripple their services with a loss of data. 

Small businesses are especially at risk from these types of attack. In 2019, 71% of ransomware attacks targeted small businesses, with an average ransom demand of £112,000. 

Deploying the full Trust365 suite from Trustify gives unrivalled protection from this killer threat. 

Weak passwords 

Using weak or easily guessed passwords, or the same passwords for multiple accounts, can compromise critical data. TrustiPass is a single-sign-on solution with integral VPN and WiFi security offering small business owners complete ID security. 

Insider threats

The final major threat facing small businesses comes from insiders – employees, former employees, suppliers, business contractors or associates. A 2019 Verizon report found that 25% of breaches in 2019 were caused by insider threats. Developing and operating good security policies aligned to standards like GDPR and ISO 27001 is the best way of combating this often-overlooked threat vector. 

Solutions from Trust365:

Trust365 from Trustify is the perfect way to keep track of all the known and unknown cyber risks facing small businesses today. Adding cyber risk insurance to the Trust365 service suite offers the ultimate solution to keep your business cyber resilient. There are many cyber threats facing small businesses today. The best way to protect against these is to deploy a complete, integrated suite of insurable security services, and to utilise proper security policies to ensure that users are always cyber aware. Trust365 from Trustify delivers all this for as little as £50/month. Peace of mind for less than £2 a day.

Further information 

www.trust365.com 

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