New BBB Cybersecurity Study: Some Companies Don’t Even Know When They’ve Been Hacked

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Two years ago, the cybercrime motto was, “It’s not a matter of if your company will be hit, it’s a matter of when.” Now, it’s a matter of knowing when your company is being hacked.

Better Business Bureau’s just released study, the State of Cybersecurity Among Small Businesses in North America, was conducted on the national level and provides an in-depth look in to the advances of cybersecurity and cyber threats against the largest sector of contributors to the U.S. economy.

President and CEO of Better Business Bureau serving Chicago and Northern lllinois Steve Bernas says, “One of the most eye-opening findings from this integral study is the fact that an alarming 50% of small businesses report they could remain profitable for only one month if they were attacked.”

He adds, “We have to do better to support, educate and empower the small business community as they continue to create over 60% of jobs in the private sector. I believe this study is a huge step in the right direction.”

Some key findings include:

  • Over 90% of all business hacks begin with a phishing e-mail
  • Ninety percent of phishing emails contain ransomware
  • Only 50% of business owners are aware that if a cyber-attack results in a substantial loss to their business accounts, the bank is NOT responsible to cover losses – unlike consumer losses, the burden of proof that the bank was negligent lies with the business
  • Typically, cybercrime losses are the losses of the business owners

For additional keys findings and access to the complete study visit: https://www.bbb.org/stateofcybersecurity.

From the Better Business Bureau

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