One Article Review
| Source |  AlienVault Blog |
|---|---|
| Identifiant | 1317541 |
| Date de publication | 2019-09-10 13:00:00 (vue: 2019-09-10 16:00:51) |
| Titre | Should small business owners concern themselves with business espionage? |
| Texte |
As technological developments have helped turn the world into a global village, they have also made it easier to steal, extract, and communicate confidential information – leading to an increased frequency of corporate espionage.
Take Apple for example; despite deploying leading security measures and monitoring activities, the tech giant has had two espionage attempts in one year, foiled just as the convicts were departing the country.
In fact, a 2014 report estimated the global cost of industrial espionage to be $445 billion. Considering how the economy has shaped up since then, the figure may well be over the $1 trillion mark.
Should small businesses be concerned?
It’s not only the Silicon Valley giants who have to face espionage. Rather, smaller businesses have more to lose. With 31% of all cyber-espionage attacks aimed at small businesses, the loss of important information can leave them facing bankruptcy.
Source: https://www.freepik.com/free-photo/hacker-with-laptop_3361105.htm
Indeed, according to the U.S National Cyber Security Alliance, 60% of Small Medium Enterprises (SMEs) shut down within six months after a cyber-attack. What’s more, it costs approximately $690,000 and $1million for such businesses to clean up after an attack.
As Jody Westby, CEO of Global Cyber Risk says, “it is the data that makes a business attractive, not the size – especially if it is delicious data, such as lots of customer contact info, credit card data, health data, or valuable intellectual property.”
Why Are Small Businesses Targeted?
Smaller businesses are easy targets of corporate espionage, as they tend to have weaker security compared to large corporations.
The Internet Security Threat Report shows, for instance, that while 58% of small businesses show awareness and concern about a possible attack, 51% of them still have no budget allocated to prevent it.
It seems, also, that the problem is getting worse, as outlined by cyber-security experts in PwC’s Global State of Information Security Survey: small organizations, with annual revenue of under $100 million, have reduced their security budget by 20%, even as large organizations are spending 5% more on security.
Indeed, as large organizations are getting better at defending themselves against different types of espionage, criminals are “moving down the business food chain.” For example, cyber-attacks to steal information from small businesses have increased by 64% in a span of four years, as large businesses have adopted more robust security protocols.
As a result, all kinds of small |
| Envoyé | Oui |
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| Tags | Guideline |
| Stories | LastPass |
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