When small businesses don’t realize they’re cyberattack victims

A significant portion of small businesses (SMBs) may not even know they have been a cyberattack victim due to a lack of understanding as to what constitutes a cyberattack, according to new research from insurance firm Nationwide.

This week, the company published the results of a survey of 1,069 U.S. businesses with between one and 299 employees to understand how small firms are addressing the widespread, complex threat of cyberattacks. But the survey, now in its third year, has also uncovered a significant gap in the understanding of what can be considered a cyberattack in the first place.

According to researchers, only 13 percent of small businesses said they have experienced any form of cybercrime.

But when small business owners were shown a list of different types of cyberattacks, the percentage of firms that said they had fallen victim to one of these tactics spiked to 58 percent. According to Nationwide, the data reveals “a 45 percent gap and lack of understanding about what constitutes an actual attack.”

Computer viruses were the most commonly cited form of attack, with 36 percent of small businesses saying they have been hit by this type of threat. Nearly a third said they had fallen victim to a phishing attack, while more than 10 percent each said they were the victim of a Trojan horse or a hacking incident.

continue reading »

More News