A new report from the Better Business Bureau calls on Illinois small business owners to take steps to prevent cyber attacks.
The study took an in-depth look at the advances in cybersecurity and cyber threats against the largest sector of contributors to the U.S. economy. It included data and information from Illinois-based businesses.
Steve Bernas, president and CEO for the Better Business Bureau of Chicago and Northern Illinois, says the numbers are stark.
“We found out one in five small businesses have been hacked in some way and the number is increasing,” Bernas said. “We’re all affected by it in some way. And the economy is damaged sometimes because of these cyberattacks and it hurts the financial health of an organization.”
The study indicates many business owners are aware of the risk, but don’t know what to do. Bernas says more emphasis should be placed on educating employees about how these attacks occur.
“Over 90 percent of all business hacks begin with a phishing email and 90 percent of those hacks contain ransomware,” Bernas said. “It can be one person that can affect the whole computer system and that can be very detrimental to the health of that organization.
Some small businesses might not have the ability to take the proper steps to protect themselves. Bernas says outside help might be needed to address the danger.
“Businesses are aware of [cyber threats], but they have to understand the risk of it,” Bernas said. “They have to have better resources and expertise. If you don’t know what you’re doing, hire a third party service to put you in a better position than if you tried to do it with limited resources or limited staff knowledge.”
Bernas says the BBB has heard from a number of Illinois small businesses that already have been victimized by cyber attacks, but some aren’t willing to come forward.
“Some businesses have been hacked and have been afraid to say anything in fear of a [public relations] nightmare,” Bernas said. “When Target had that big breach, they were able to overcome that PR nightmare. Think about a small business or a ‘mom-and-pop’ operation. Could they maintain their business?”
In fact, the report indicates 50 percent of small businesses could remain profitable for only a month if their essential data were stolen. And only about half are aware that if an attack results in a substantial loss to the business, their bank in unlikely to be responsible to cover those costs.
