Businesses Believing Size Matters Risk Falling Victim to Cyber Crime

Two-thirds of reported cyber attacks within the past year involved scammers attempting to access company’s data records

Businesses Believing Size Matters Risk Falling Victim to Cyber Crime

UK small businesses are leaving themselves vulnerable to cyber-attacks by believing their size makes them go unnoticed by hackers, according to a report by Juniper Research.

The survey of 200 small enterprises revealed the full extent of businesses’ misconceptions about cyber crime, with 27% of respondents believing they were safe from any potential attack because they were “too small”, while 74% feel they’re generally secure.

Those surveyed appear to have a misplaced sense of optimism however, as 50% have actually already fallen victim to online criminals, with 29% of reported attacks involving scammers attempting to access a company’s data records

It’s suggested finger pointing following such an incident could also be a potential problem or smaller firms as 33% consider their IT department solely responsible for handling security threats with 63% even claiming that cyber security was not their department’s responsibility.

Windsor Holden, head of forecasting and consultancy at Juniper Research, said:

“Cyber security poses a threat to businesses of all sizes. Believing you are either too big, or too small, for a successful attack could cost your business dearly.

“Our study shows that despite the steep rise in cyber attacks, businesses still believe they are far more secure than they really are, and many still treat cyber security as an IT issue.

“It’s encouraging that spend on cyber security is going up, but this is largely among businesses who’ve already had a breach, suggesting many don’t wake up to the threat until it’s too late.”

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