Although we don’t like to admit it, succeeding as a small to mid-sized business (SMBs) takes more than a great idea and strong work ethic. Vigilance and the ability to anticipate the unexpected — whether it’s unforeseen costs, dips in the economy, or other more ominous issues — is all part of the job description for every small business owner. Continue reading
**Originally published July 7, 2015, updated July 22, 2019**
Fraudsters are always in the market for a lucrative new target. So, what’s the most information-rich, security-poor victim they can exploit? A small business, of course.
According to the Association of Certified Fraud Examiners (ACFE), an organization on average loses a whopping 5% of their revenue to fraud each year — that’s potentially a global total loss of $4 Trillion dollars. And small businesses are impacted disproportionately harder by fraud, with a median loss of $200,000 for businesses with less than 100 employees. That’s almost twice as much as the median loss for companies with more than 100 employees ($104,000.)
Thankfully, there are a few tricks small business owners can use to combat potential fraud. And the best place to start is by looking at the main entry points of exploitation: occupational fraud, cyberattacks, and identity theft.
On Wednesday, April 3, 2019, the cybersecurity company, UpGuard reported that it discovered two massive datasets containing information on more than 540 million Facebook users. The information had been uploaded to Amazon cloud servers by two separate third-party app developers and was left unprotected, open to access by anyone. Continue reading
National Cybersecurity Awareness Month: A Year-Long Effort
October is National Cybersecurity Awareness Month – a time that is dedicated to showcasing how to stay safe online by providing insight and best practices on how to protect Personally Identifiable Information (PII), financial and sensitive proprietary data.
The need for proper cybersecurity within the workplace should be a continuous effort throughout the year. With small businesses feeling the brunt of data breach events, many of which are caused by cyberattacks or other security vulnerabilities, a proactive attitude toward cybersecurity risks in the workplace is now more important than ever.
Your employees are ultimately your first line of defense against potential data breaches, and they can make or break your overall business security. However, employees may not realize that protecting business information also means protecting their personal information, too.