Cybersecurity is sometimes referred to as information technology (IT) security, encompassing all aspects of data security and computer network security. Due to this, it is common to view cybersecurity as primarily a technology problem, especially for medium and small businesses with limited IT resources.

However, the consequences of a cybersecurity event are wide-ranging and may affect far more than the business’s technological resources. Here’s why cybersecurity is a business issue, not just a tech issue, and why implementing reliable cybersecurity solutions is crucial for any company.

Cybersecurity services Detroit

Every Business is at Risk, Regardless of Size

Although business news often reports major data breaches and cybersecurity events at large firms, it is crucial to understand that cybercriminals and malicious hackers do not exclusively target the most prominent companies.

Cybercrime is an entire industry that cost global companies over $6 trillion in damages in 2021. Although data breaches primarily affect businesses in the financial sector, all companies, regardless of size and industry, can fall victim to a cyber attack. This phenomenon exists because the relative operating costs of launching such an attack are minimal, sometimes negligible.

Conducting a breach on a smaller business can result in substantial gains for a cybercriminal, especially if the target does not benefit from a managed cybersecurity plan.

According to cybersecurity experts, a low-end attack can cost an attacker as little as $34 per month for a potential average yield of $25,000.

What Happens During a Cyberattack?

One of the preferred cyberattack methods employed by today’s hackers is the ransomware attack, a portmanteau of the words “ransom” and “software.”

Ransomware attacks typically feature four stages:

  • Distribution: Exploiting a weakness in the network, typically via phishing scams. The objective is to inject the target company’s systems with malicious code.
  • Data targeting: Once the ransomware code is on the company’s servers, it will look for target data and any backup copies and duplicates.
  • Encryption & Destruction: The ransomware will destroy all backups of the target data, then encrypt the remainder.
  • Ransom: Once all crucial data has been encrypted and all backup copies deleted, the ransomware will provide instructions on unlocking access, typically by requesting large sums of money in cryptocurrency (e.g., Bitcoin).

A ransomware attack usually takes 15-60 minutes to complete and is designed to remain invisible until critical files have already been encrypted.

Paying the ransom also does not protect businesses from repeat attacks, nor does it guarantee that cybercriminals will unlock the data. In many cases, they will copy the target’s business data and resell it.

Although cyberattacks can target all types of valuable business data, the most common is the company members’ Personally Identifiable Information (PII): names, home addresses, email addresses, passwords, and credit card information.

How to Start Building a Cybersecurity Culture

Building a cybersecurity-focused culture within your organization is crucial, even if your company has limited IT resources. Consider implementing some of these best practices:

  • Many attacks, such as phishing scams, can only be initiated if the targeted users fail to discern malicious links and login pages from legitimate ones. Educating employees in basic cybersecurity practices is crucial to avoid creating weaknesses.
  • All critical data should be safely backed up, preferably on an external, cloud-based storage solution.
  • Create strong passwords for any accounts or login credentials that require them. Change passwords at regular intervals to prevent them from becoming a security risk.
  • Enable multi-factor authentication (MFA) and educate your personnel on its uses and benefits. Disabling MFA can amplify the risks of a password falling into the wrong hands.
  • Keep your devices, software, and IT security solutions up-to-date to ensure they always benefit from the latest security patches.

Build a Comprehensive Cybersecurity Plan with NTM

While implementing basic cybersecurity measures and good habits is essential for any company, a cybersecurity company has the resources and expertise to help you build a safe, secure network and a comprehensive data security system.

National Technology Management is an industry-leading provider of cybersecurity services in Detroit. Our SafeSecure fully-managed IT services plan can help keep your business data monitored and protected 24/7. Contact us today to learn more.


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