The majority of SMEs do not think that they are at risk of attack by cyber criminals, despite half of them having experienced a data breach, according to a study by Juniper research.
The report also revealed that, of the 50% who had lost data in an attack, two thirds had experienced this loss in the last year. Most of the small businesses surveyed (86%) thought that they were already doing enough to mitigate the risk of an attack, while 27% believed that their size meant they wouldn’t be of interest to online criminals.
Windsor Holden, head of forecasting and consultancy at Juniper Research, highlighted the potential cost of lost data, time and customers and a damaged corporate reputation. He said: “Our study shows that businesses believe they are far more secure than they really are.”
A lack of clear procedures was also highlighted as a key area for concern. Although the majority of respondents (69%) would immediately act upon discovering a cyber breach, almost two in five (18%) would wait until the next working day if they did not consider the issue significant.
Just one in four had a dedicated security expert at board level, something which is considered essential for businesses to be able to adequately react to unexpected cybersecurity issues.
Claim your FREE* Cyber Security Assessment here