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How Cyber-Attacks Target Smaller Businesses

Attention around cyber-attacks has grown as the world grows a dependence on technology and digital connectivity. Everything from social media to food delivery to large-scale data transfers are at risk of being compromised by hackers and other nefarious characters online. But one target hackers have been honing in on are small businesses.

In fact, by last year’s count, more than 61% of all U.S. small businesses surveyed by Verizon Data Breach said they’d been a target of a cyber-attack, compared to 55% just a year before. The costs of repairing the damage takes days or even weeks and comes out to more than $100,000. If your commercial laundry business or dry cleaning small business is hit, it runs the risk of closing up shop within 6 months after a cyber-attack.

Easy Targets

The most common security problems that showed up were phishing and other forms of social engineering, such as when criminals pose as legitimate organizations to obtain sensitive information. What’s more, at least 90% of all small businesses don’t use any data protection for sensitive company and customer information. This leaves the gates wide open for hackers who are looking to infiltrate networks and gain information easily.

Small businesses store other critical data as well, including vendor information, customer lists, passwords, which turns a small operation into a big deal. Larger businesses and companies invest in security policies and protocols to protect their cyber data, but this may not be the case for small businesses due to lack of funds.

Keeping Safe

Small businesses, such as a commercial launderers or dry cleaners, should take effective steps to protect their data. All company computers need to have anti-virus software installed as well as anti-spyware programs. Additionally, these programs need to be regularly updated and kept current to keep advances in cyber threats at bay.

For Wi-Fi networks, small businesses should enact a two-factor authentication, which uses a password and an additional piece of information that only the account holder knows. Plus, there can be an added layer of protection by keeping a cybersecurity expert on-call to review your systems and keep everything updated and current.

Financial Protection

Since the major hit that small businesses take from a cyber-attack is financial, having the protection of a up-to-date insurance plan in place will provide peace of mind. Small business insurance plans for a commercial laundry business or dry cleaning business will safeguard your operation and allow you to stay up and running while things get squared away. Having this kind of coverage will make a big difference if you have to pick up the pieces of a digital attack.

About Irving Weber Associates

Is your business protected from Cyber Attacks?  The insurance professionals at Irving Weber Associates, Inc. and help.  IWA understands what it takes to run a successful Dry Cleaner, Coin Operated Laundromat, Linen Supply business, or Commercial Launderer, including investing in a comprehensive Insurance Program to ensure that you are financially protected against legal claims. Our program, Fabricare Advantage™, offers specialty coverage including General Liability, Property, Site Pollution Liability, Boiler & Machinery Equipment Breakdown, Workers’ Compensation, Business Auto, and many more. For a detailed look at how we can help you safeguard your business, please contact our experts today at (855) 764-7406.