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October 16, 2012

Study Reveals U.S. SMBs' Negligence Toward Cyber Attacks

National Cyber Security Alliance (NCSA) and Symantec (News - Alert) recently came out with a survey suggesting more than 75 percent of U.S. small business owners or operators claim they are safe from any kind of cyber threats.

However, 83 percent don’t have a formal cybersecurity plan.

For 1,015 U.S. small and medium-sized businesses (SMB), the survey revealed that most are not taking the necessary measures to keep their businesses safe and secure. But quite a few of them realize the fact that cyber security is critical to their success.

Seventy-three percent of SMBs say a safe and trusted Internet is critical to their success, and 77 percent say a strong cybersecurity and online safety posture is good for their company's brand.

The research also revealed that 59 percent of SMBs do not have a contingency plan for responding and reporting data breach losses. Sixty-six percent aren’t even concerned about any kind of cyber threat.

"We want U.S. small businesses to understand they cannot completely remain safe from cyber threats if they do not take the necessary precautions," said Michael Kaiser, executive director of the National Cyber Security Alliance. "A data breach or hacking incident can really harm SMBs and unfortunately lead to a lack of trust from consumers, partners and suppliers. Small businesses must make plans to protect their businesses from cyber threats and help employees stay safe online."

"It's terrifying that the majority of U.S. small businesses believe their information is protected, yet so many do not have the required policies or protection in place to remain safe," said Brian Burch, vice president of Americas Marketing for SMB, at Symantec. "Almost 40 percent of the over 1 billion cyberattacks Symantec prevented in the first three months of 2012 targeted companies with less than 500 employees. And for the small, poorly protected companies that suffer an attack, it's often fatal to their business."

In related news, Symantec recently released a report which said that consumer cybercrime has cost the Kingdom SR 2.6 billion in the past 12 months. Symantec released the findings of its annual Norton Cybercrime Report, one of the world's largest consumer cybercrime studies.

Edited by Braden Becker

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