When it comes to cyber attacks, many small business owners either ignore or aren’t aware of the threats that surround them daily. While many of us think, “That only happens to huge companies,” the reality is data breaches, ransomware, and data extortion attacks happen all the time to businesses of all sizes. Understanding your customers’ data is at risk every day you turn on your computer is the first step in preventing these threats from becoming a reality. In this article, we’ll highlight seven risks you should be aware of and address as you create a plan for guarding against cyber attacks.
Are you susceptible to cyber crimes?
According to a report published by the Identity Theft Resource Center (ITRC), there were 1,802 total compromises (including data breaches, data exposures, and unknown compromises) in 2022, affecting 422,143,312 people. Twitter, AT&T and Cash App each reported at least one compromise, but these incidences are only the tip of the iceberg. For every crime you hear about, thousands go unreported, unsolved, and unpunished.
Cyber crime has become increasingly frequent, complex, and costly, especially among call centers which have always been attractive targets because of the sensitive customer information they retain, including credit card and social security number data.
According to a survey published by TrustID, 51 percent of respondents working in the financial services industry identified call centers as the main channel for account attacks. That’s why live agents at leading call centers are trained to spot and identify security issues, and why your staff should be too.
Consumers’ expectations for cyber-preparedness vary from industry to industry. A majority of people in the general public say they have confidence that their banks (71%), their health-care providers (64%), and their email providers (55%) are equipped to protect them from cybersecurity threats. On the other hand, only 32 percent expect social media platforms to be prepared.
Regardless of what consumers think, America’s small businesses are not ready for a cyber attack. A recent CNBC/Survey Monkey poll found only 5% of small businesses believe cyber security is their top risk. And, according to a recent Small Business Administration survey, 88% of small business owners consider their business vulnerable to a cyber-attack. Yet many cannot afford professional IT solutions, have limited time to devote to cybersecurity, or they don’t know where to begin.
Power tools are great. But cyber tools are even better.
In the wake of an event, would you know who to call? How to react? Or what to tell your employees, customers, and media? Could your organization handle the immediate financial impact and long-term reputation damage? If you’re unsure, take five minutes to complete the Travelers Cyber Risk Pressure Test here. This tool will help you identify how ready your business is to manage the risk associated with storing customer or patient information today.
Additionally, a number of public and private organizations offer tips for improving your cyber security. The Small Business Administration (SBA) specifically advises guarding against these pitfalls:
- Lack of data awareness. Assess how much data and what type you have—then back it up.
- Lack of a plan. Create a plan that involves creating back-up files containing the most essential software, processes, and customer information for your business.
- No background checks. Guard against internal threats by running background checks on all new hires.
- Lack of training. Train employees to recognize and avoid spamming and phishing on a regular basis, like once a year.
- Lack of antivirus software and updates. Stay on top of the latest security updates and make sure your equipment is protected.
- Unlimited access. Limit the number of employees who have administrative access to systems, software, and social media platforms.
- Unsecure networks. Install the latest firewall and antivirus technology as well as data breech prevention tools.
Additionally, the Federal Communications Commission offers additional cyber security advice and resources.
Interested in more small business resources? Check out the article “4 Small Business Hacks to Increase Your Bottomline.” Or if you would like to learn more about how CCS trains our experienced call agents to spot and identify security issues, contact us today.
