Large corporations are no longer the ONLY target of cyber criminal activities. SMEs (small and medium enterprises) have become increasingly exposed to the dangers of the cyber world, which is why SMEs are having difficulty securing their systems and networks. Cyber criminal activities have reached the point where industry IT experts have started assuming that they are a universal threat and, unless security measures are implemented, systems and data security are doomed. Unfortunately, there isn’t a single organization in the entire world that can claim that it has fool-proof cyber security. The biggest threat to SMEs is not the breach of their system. It does not realize the fact that cybercriminals can target their small-scale businesses.
Cybercrime is costly to SMEs, causing them to lose millions of dollars annually. The US alone is on the top of the list of having the highest number of cyber criminal activities. According to estimates, the reported cases of cyber crimes account for about $700 billion every year, multiplying at a massive pace. The thing is, the culture of “cyber-stealing” is growing, and individuals with hacking knowledge and expertise are considering it to be a safe career path that has a lot to offer to them. That’s why con artists and highly organized crime syndicates are coming up with sneaky tactics to break into SMEs’ accounts to steal sensitive information from companies. In short, cybercrime is a reality, and those who ignore it can expect to face troubles in the future.
What do Cyber Criminals Usually Look for?
To protect your business from cybercrime, you must implement a prevention plan to push infiltrators away from your company’s servers. Since cybercrime is multiplying, SMEs must adapt to improved network security protocols to prevent sensitive data from leaking. Hackers, intruders, cybercriminals, or whatever you name online scammers usually look for business data, bookkeeping and accounting records, vendor details, sensitive personal and client information, banking details, and more that can be sold on the dark web for money. Therefore, improving your system and network security can significantly help you prevent costly loopholes.
What can Cyber Crime Mean for SMEs?
First things first: business disruption with an immediate effect! Cyber criminal activities can be hefty for SMEs, costing them a sustainable competitive advantage and financial and reputational damage. Those who trust you with sensitive information and rely on you for certain essential aspects like the security of data, the secrecy of business transactions, the privacy of vendor details, and larger business interests need not be disappointed. So, you must ensure that business data is protected against all predictable or non-predictable cyber threats. Keeping proper checks and balances in place is ideal to prevent any information leakage from the company’s servers.
Keeping Your Business Safe from Cyber Crime
To protect your business from cyber-attacks, creating and implementing your own security policy is ideal as it will give you more control over your company. Having a written, clear-cut security policy helps your employees know the menaces of cyber security threats and repercussions they might have to face due to an incident of cyber fraud. Also, you must encourage your staff to use complex passwords and shut down their computers once they leave the office.
Cybercrime occurs when you fail to update your system and networks. You must update your operating systems, software, and browsers and install anti-virus software and firewalls to prevent cyber attacks. Moreover, it would be best if you were very careful with software installation, as hackers are inventing new ways by which they can target SMEs that are vulnerable to cybercrime.
Hiring an IT Expert
Hiring an IT professional is the best way to secure your business from cyber criminals. SMEs can hire IT experts to ensure their data safety and network security when they fail to comply with network security protocols on their own. They are not as expensive as you may think. The choice to hire an IT expert is a fair trade. Spending money on data safety and network security is a wise move compared to what you could lose if you are not protected.About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.