You cannot go a day without reading about some big name company or even government agency being hacked and critical data being compromised. What you don’t see in the media is that most of the attacks happen to small firms, and that this is where a lot of the cybercrime is occurring.
What any business, but especially a small business, needs to be afraid of are cyber attacks that disable your operations, disrupt customer interaction, or breach your customer’s personal data. Contrary to what one might expect, smaller firms are far more likely to be targets of hackers than large firms. They are also likely to have less sophisticated security measures in place. Any firm’s existence can be threatened by these events, but smaller firms are often unable to rebuild after a major breach.
Studies show that customers are less forgiving of smaller firms than larger ones when their personal data has been compromised. The lesson here is that smaller firms are more vulnerable and need to be extremely vigilant.
Each month your management team should review/discuss the components of the cybersecurity program and the business continuity/resiliency plans.