This Business News Story Was Uncovered By Us From: https://www.under30ceo.com/do-startups-need-to-worry-about-cyber-threats/
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Cyber threats may be the last thing on the mind of aspiring business leaders looking to grow their startups. However, the current geopolitical landscape and increased use of digital technologies are calling for an adequate reaction.
This article will explain why startups are vulnerable to cyber threats. It will also go over several steps they can take to minimize risk.
Why Are Startups Vulnerable to Cyber Threats?
Startup leaders may think they are too small to be targeted by cyber threat actors. Some may not think they’re even on their radar.
However, this report from late 2021 indicates that smaller companies white three times more likely to experience a cyber incident. Contrary to popular belief, hackers don’t just look at a potential gain when selecting their victim. Perhaps an even more significant factor is how easy it will be for them to gain access.
Cybersecurity insights show that only 14% of SMBs have adequate measures to prevent cyber incidents. Once hackers identify vulnerabilities, they will dedicate their resources to exploiting them. They won’t mind whether their victim has a market cap of $10 billion or $10,000. As long as they get something out of it, they are happy.
Who Do Hackers Target Within a Company?
Threat actors may not be too selective about the companies they target. But are there specific positions and accounts they focus on once they identify a victim?
According to the same report, CEOs and CFOs are twice as likely to be targeted than other employees. Threat actors know that these accounts come with the most access privileges. They can effectively access the entire business if they can breach that account.
Note that these statistics are only related to spear-phishing, a popular social engineering technique. But that’s just one weapon in a hacker’s arsenal. Regular employees can also be targeted in phishing campaigns or exploited due to system vulnerabilities.
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