The VIPRE Data Breach Kit: How SMBs Can Protect Themselves

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Jul 18, 2023, 15:45 ET

The average cost of a cyberattack in the US was $25,612, an expense that can significantly impact business continuity of SMBs.

NEW YORK, July 18, 2023 /PRNewswire/ -- Today, VIPRE Security Group announced the release of its Data Breach Kit. For too long, cybersecurity experts and vendors have provided SMBs with general advice unsuitable to their needs when, instead, they need a tailored, pragmatic approach to cybersecurity. This report provides SMBs with a targeted, comprehensive guide to data breaches, how they happen, and how SMBs can protect themselves.

The report covers:

How SMBs differ from larger businesses
How data breaches happen
What cybersecurity agencies suggest
How SMBs can prevent a data breach by addressing each breach pattern

SMBs are often overlooked, but they shouldn't be as they SMBs account for 90% of companies, 60% to 70% of employment, and 50% of GDP globally. As such, SMB security is vital to the normal functioning of global economies.

The past few years have seen more SMBs adopting digital transformation initiatives and remote-working models, significantly expanding their attack surfaces. As a result, they have suffered more cyberattacks.

Moreover, the rise of cloud-based models and "as-a-Service" offerings mean SMBs now have access to the same technology as larger organizations and face the same threats. However, SMBs typically lack larger organizations' resources, meaning they must take a more targeted approach to cybersecurity, making the most of what they have.

Data breaches are a particularly severe threat to SMBs because they are less equipped to weather the financial impacts. A 2021 Hiscox report found that the average cost of a cyberattack in the US was $25,612. For a small business, such an expense can significantly impact business continuity, force lay-offs, and even bring about insolvency.

The time, money, and resources required to address the hidden costs of a data breach – such as rebuilding trust and paying regulatory fines — are often an existential threat to SMBs.

"Many SMBs operate under the assumption that they are 'too small to be targeted,' but that isn't the case anymore," said Usman Choudhary, chief product and technology officer at VIPRE. "A huge number of SMBs use the same technologies as and are part of larger organization's supply chains, meaning they are just as at risk as the largest multinationals."

Most (74%) data breaches involve some element of human error. This intelligence is essential for SMBs, as remediating human error is one of the most cost-effective ways to prevent cybercrime.

For example, according to the report, SMBs must impress upon their employees the importance of using unique, complex passwords, identifying possible malicious insiders, and ensuring security teams do everything they can to prevent security misconfigurations.

Similarly, the report examines some of the most common threats to SMBs, including system intrusion, basic web application attacks, social engineering, miscellaneous errors, and privilege misuse, to help them understand and mitigate them.

Fortunately for SMEs, this report outlines a few of the most comprehensive SMB-focused guidelines from the UK's National Cyber Security Centre (NCSC), the US's Cybersecurity and Infrastructure Agency (CISA), the Australian Cybersecurity Centre (ACSC), and the European Union Agency for Cybersecurity (ENISA).

Because SMEs usually lack the resources of larger organizations, their security solutions must be easy to implement and designed to thwart general, non-targeted attacks. As such, SMBs should focus on breach patterns, placing obstacles on the pathway to data to slow down and prevent attackers from compromising it, the report notes.

Finally, the report outlines how SMBs can take a flexible, layered approach to cybersecurity. By focusing on email security, awareness training, and endpoint detection and response (EDR), SMBs can protect themselves from most threats, from the first stages of an attack to its culmination.

Download the full report for strategies and tips SMBs can take to mitigate cyber threat.

About VIPRE Security Group

VIPRE Security Group is a leading provider of internet security solutions purpose-built to protect businesses, solution providers, and home users from costly and malicious cyber threats. With more than 25 years of industry expertise, VIPRE is one of the world's largest threat intelligence clouds, delivering exceptional protection against today's most aggressive online threats. Its award-winning software portfolio includes next-generation antivirus endpoint cloud solutions, advanced email security products, along with threat intelligence for real-time malware analysis, and security awareness training for compliance and risk management. VIPRE solutions deliver easy-to-use, comprehensive layered defense through cloud-based and server security, with mobile interfaces that enable instant threat response. VIPRE is a proud Advanced Technology Partner of Amazon Web Services operating globally across North America and Europe. The group operates under various brands, including VIPRE®, StrongVPN®, IPVanish®, Inspired eLearning®, Livedrive®, and SugarSync®. www.VIPRE.com

Press Contact:

Scott Rupp
941-448-7566

SOURCE VIPRE Security Group