An unexpected cyberattack can be devastating for your small to mid-sized business. Make it to 2022 by learning about five major cybersecurity risks SMBs face in 2021. 

1. Cyberattacks Are On the Rise

It was reported that in 2019, over 31,000 cases of cybercrime against businesses worldwide, a majority of them targeting small businesses. The number of attacks continues to increase, making it more likely that your business will be targeted.

Some of the most common types of cyberattacks include

  • Phishing
  • Inadvertent disclosure
  • Network intrusion
  • System misconfiguration
  • Lost or stolen records or device

Modern phishing techniques often go unidentified as they become more and more sophisticated. If your team can’t identify phishing emails or your current cybersecurity software isn’t alerting you to malware infections, you may not even know if your SMB is the victim of a cyberattack until it’s too late.

2. Compliance Laws Require Up-To-Date Protection

Another major hurdle that may prevent your SMB from making it to 2022 is not staying current with government compliance. There are a number of organizations and regulating agencies that have laws dictating specific restrictions and procedures, including

  • HIPAA: Health Insurance Portability and Accountability Act
  • NIST: National Institute of Standards and Technology
  • DFARS: Defense Federal Acquisition Regulation Supplement
  • CMMC: Cybersecurity Maturity Model Certification
  • CCPA: California Consumer Privacy Act
  • SOX: Sarbanes-Oxley Act
  • COBIT: Control Objectives for Information and Related Technologies
  • CIS Controls: Center for Internet Security Controls

Without an advanced cybersecurity package designed to keep you up-to-date, your business may fail to comply with one or more of these laws, resulting in fines and other penalties.

While some regulations are geared towards businesses that work directly with the government, all businesses should look into the different frameworks promoted by these compliance programs.

3. Remote Work Is Here to Stay

2020 and 2021 showed us that many businesses are able to successfully operate with employees working from home. Yet with information being sent to and from various parts of the world, sensitive data becomes even more vulnerable. 

While remote networks allow your teams to stay connected, they’re also a liability. If businesses continue to operate remotely but decide not to install strong cybersecurity measures, 2022 may bring some nasty surprises in the form of ransomware.

4. IoT Can Be a Vulnerability

Your IT security services will need to protect your Internet of Things, or IoT, technologies better than ever before. New technologies and opportunities to connect devices can lead to new opportunities for cyberattacks, with infected routers and hijacked cameras are two of the most common IoT cyberattacks. Approximately 99% of respondents have concerns about their IoT data security, according to Statista.

Establishing a secure IoT system to detect, identify, and respond to threats is the only way forward, especially with the surge of security issues that the Internet of Things has experienced in the last few years.

5. Mobile Devices Are At Risk

According to DataReportal, over 66% of the world’s population uses a smart mobile device, making mobile-based cybersecurity attacks more destructive. Personal, business, and client mobile devices are all viable avenues and easy targets of phishing scams and other cybercrimes.

Apps and mobile frameworks for shopping, business communication, and cloud-based data retrieval have the potential to create complications for any business. If you’re operating an e-commerce business, your customers deserve a safe mobile shopping experience. Many fraudulent activities occur via mobile transactions, which can make customers wary of mobile shopping.

Make It to 2022 With ThrottleNet

Use a free dark web scan today to improve your business security and see how ThrottleNet can help your SMB make it to 2022. Explore our managed IT security services to tailor your cybersecurity needs to current and future threats. Reduce the risk of an attack shuttering your business with all-inclusive IT security services.