NordPass and NordStellar, developed by one of the best vpnNordVPN has found that small private businesses are the most attractive to hackers. Is analysis discovered that a small private retail company in the US would be an ideal target for cybercriminals.
Nearly 2,000 data breach incidents worldwide were analyzed over the past two years, extracting insights into which companies are most likely to suffer a cybersecurity breach. Companies were ranked according to their likelihood of experiencing a breach based on their industry, size, company type, and country of registration.
The majority of breaches occurred in the retail sector (95 incidents), followed by technology (56 incidents) and business services (51 incidents). No industry or company is immune from breaches, but data indicates that private companies are targeted far more than any other. Of the 2,000 data breaches analyzed, approximately 1,600 involved private companies.
“While small retail businesses are very attractive, other profiles are no less attractive to hackers,” says Karolis Arbaciauskas, head of business development at NordPass. “This analysis helped us illustrate which companies face the greatest risks and explain what steps can be taken to avoid them.”
Even tech companies are at risk
Specific technology-related sectors, including Internet and web services, IT services and consulting, software development, and computer hardware development, feature in the top 10 target industries. Arbaciauskas finds this surprising, given that many assume these industries would be better equipped to avoid violations. However, hackers find technology companies an attractive target and even if the company is well equipped, human errors can still occur. Therefore, companies should carefully evaluate their cybersecurity preparedness.
No country is resistant to cyberattacks, but naturally, larger countries are in the spotlight and give hackers greater opportunities to attack them. Nearly a quarter of the companies attacked were based in the US (489 incidents), with India (114 incidents) and the UK (73 incidents) being the top three.
No business is too small
Hackers prefer small and medium-sized businesses (SMEs). The vast majority of companies attacked had between 51 and 200 employees, and Arbaciauskas believes that SMEs may be underestimating their value to hackers.
“There are targeted attacks, yes, but hackers usually carry out much broader scope activities, such as credential browsing, dictionaries or rainbow attacks that do not choose their victims,” says Arbaciauskas. “Due to reused and poor employee passwords, or downloaded malware, company credentials appear in leaked credential databases, giving hackers a chance to get in. For smaller businesses, “A data breach is a risk of going out of business: financial costs and reputational damage carry significant consequences.”
How companies can protect themselves against data breaches
According to a recent IBM reportThe average cost of a data breach in 2024 will be almost $5 million, in addition to serious damage to a company’s reputation. Therefore, it is imperative that organizations do everything possible to minimize the risk of a cybersecurity attack and protect their business and customer data.
But what steps can be taken to help minimize the risks? Companies can incorporate some of the best VPNs for business in their work practices, and there are a number of reasons why you should use a VPN at work.
VPNs are a security tool that encrypts data on a device when using the Internet. Encryption is vital for anyone looking to bolster their digital privacy and protect their data online. VPNs add an extra layer of security for businesses, their employees, and their data. They act as a shield against cyber attacks as hackers cannot see your data or information.
Although the price varies, VPNs are a cost-effective way to improve your company’s security, reducing the need to invest in a lot of hardware or technical support. Enterprise VPNs are designed with multiple team members in mind and often use cloud-based systems, meaning all employees can access the same encrypted data and files. Our most recommended business VPN, Perimeter 81It comes with a number of features and can cover multiple team members. However, with a minimum of $8 per team member, it’s not the cheapest out there.
They are also very useful for remote workers. With changes in work habits post-pandemic, more workers than ever are working remotely, whether part-time or full-time. With a VPN, employees can access a company’s network and resources from anywhere in the world, meaning workers can remain flexible without compromising company security.
If your remote workers like to work in public spaces like libraries and coffee shops, they may be connecting to a public Wi-Fi network. This can be risky as hackers can easily steal data from unprotected users of these networks. Connecting to a public Wi-Fi network with a VPN makes any attack useless, as hackers can’t see what you’re doing and your private information remains safe.
VPNs can also protect your company and employees from phishing attacks, and many of the Most secure VPNs including anti-phishing protections. These can identify and warn you about suspicious spam emails and text messages, seeking to trick you into entering your personal information and granting hackers access to your data.
Other ways to protect your business
VPNs are not the only way to protect you and your business from the threat of cyberattacks. Using tools like best password managers can generate and store complex and unique passwords, making them harder to guess and harder to access, and protecting your data as a result. Weak passwords or reuse are a common cause of cyber attacks and a strong password is the first line of defense against hackers.
Cybersecurity auditing is a useful way to identify any weaknesses in your company’s IT infrastructure. Having independent third-party audits can help companies prepare resilience and defense strategies against hackers and also build their reputation as a secure company that protects business and customer data.
Finally, a simple way to combat cyber attacks is through education and awareness. Human error is a huge cause of data breaches. Employees may use weak passwords, fall for phishing scams, or use unsecured networks. Investing in employee awareness and cybersecurity training is a vital tool to protect your business. You can have all the protections in the world, but if you, or one of your employees, voluntarily gives away sensitive information, VPNs or password managers can do very little to prevent a data breach.