If you’re a business owner, founder, or senior leader, chances are you spend some amount of time thinking about business continuity, about how and whether your company will survive (and thrive) over the next 5, 10, 20 years.
That’s a good thing: you’re invested in your company’s success, after all.
But this level of investment can come with a dark side: fear and anxiety. Fear of falling victim to a cyberattack is enough to keep many business leaders up at night — and that’s probably a good thing.
Here’s why you’re right to be concerned, plus what you can do to soften those fears and better protect your business.
Cyber Attacks Are Existentially Dangerous
First, it’s worth remembering that cyber attacks aren’t just a minor distraction from business at hand. We’re not talking about relatively innocuous threats like adware or malware that siphons off some of your processing power. We’re talking about serious threats that can be dangerous, even existentially so — threatening your ability to keep your customers, or preventing you from keeping the business running at all.
- Ransomware attacks could lock you out of your entire business ecosystem, and paying the ransom is no guarantee that you’ll actually get back what you lost.
- Numerous types of cyberattacks can interfere with business operations; for example, rendering your website useless or preventing you from accepting or processing payments.
- Theft of customer data or proprietary business information could enable a competitor to choke you out of the market.
Cyber Attacks Are Increasing in Number
Security firm NordLayer observed that every year, we hear from experts that cyber threats are the worst they’ve ever been. (2024 was no different.) It seems almost impossible and can numb us to the reality and danger of the situation. Yet Amazon found a stunning jump in potential cyber threats (a number that includes unsuccessful attempts), from 100 million to 750 million — every day.
And The New York Times reports that 2024 was a banner year for what it calls “major ransomware attacks,” which clocked in at around 20 to 25 attacks — not per year or month or week; again, that’s every single day.
Cyber Attacks Are Getting More Sophisticated
Third, the cyber attacks businesses are falling prey to are getting more complex, more sophisticated. We see this on a basic level, where today’s phishing emails are well-written and more cleanly designed, making them appear more trustworthy and legitimate. But this increase in sophistication scales up to full-scale cyberattacks.
Advances in AI have significantly lowered the barrier to entry, allowing less-skilled bad guys to develop more sophisticated attacks. These same sorts of tools also enable skilled cyber criminals to mount their attacks at a greater scale.
There’s Good News
Phew, that’s a lot of bad news. If cyber risks weren’t keeping you up at night before, hopefully we’ve given you enough cause to be concerned.
But there’s good news, too: first, concern and worry are great motivators for taking action — which is exactly what businesses of all sizes need to do.
Here are three quick ways you can help your business stay safe.
Fight Fire with Fire
Advancements in AI are helping the good guys, too: cybersecurity tools are gaining AI-powered capabilities to detect threats faster, earlier, and with more autonomy. By leveraging AI for good, you can fight fire with fire and decrease your risk.
Double Down on Education
The human element is still crucial, because so many successful attacks still depend on someone in your company making a mistake. Whether it’s falling for a phishing scheme, failing to update software, or leaving a network setting unlocked, your people can open the door that lets the cyber criminals in. Invest in cybersecurity education to help shore up the human element.
Work with the Right Partner
Last, working with the right managed services provider can make all the difference. Blue Ridge Technology can handle all of this for you, implementing advanced cybersecurity defenses and instituting effective employee training.
Ready to learn more? Reach out to our team today.