Small businesses are not exempt from cybersecurity threats. Here are some key facts about cybersecurity and small businesses:
- 46% of all security breaches affect businesses with a staff less than 1000.
- 61% of small and medium-sized businesses (SMBs) were targeted by a threat actors.
- 82% of ransomware events targeted businesses with staff less than 1,000.
- 87% of small businesses have customer information that could be compromised.
- 95% of cybersecurity incidents at SMBs cost between $826 and $653,587.
- 55% of people in the United States are less likely to do business with a business that was breached.
- 59% of small businesses perceive themselves as too small for threat actors. Are you one of them?
Laws both from the federal government and the state call for reasonable security.
Relevant Federal Cybersecurity Law
- Federal Trade Commission Act
An online marketplace shall implement and maintain reasonable security procedures and practices, including administrative, physical, and technical safeguards, appropriate to the nature of the data and the purposes for which the data will be used, to protect the data collected to comply with the requirements of this section from unauthorized use, disclosure, access, destruction, or modification.
Relevant Oklahoma Cybersecurity Law
- Oklahoma Computer Data Privacy Act
A business or service provider shall implement and maintain reasonable security procedures and practices, including administrative, physical and technical safeguards appropriate to the nature of the information and the purposes for which the personal information will be used, to protect consumers’ personal information from unauthorized use, disclosure, access, destruction or modification, irrespective of whether a customer has opted in or out of a sale of data.
Tips to Remain Secure:
- Train your staff on the importance of information and physical security.
- Protect your business and customer information, as well as computer and networks.
- Always have a firewall between your systems and the internet or public wi-fi.
Note: This is not the same as a router you get at the store. - Keep your mobile devices secure. These are an extension of your network.
- Keep backups of your business and customer information, even if you only use cloud.
- Keep access to computers just as secure as you keep access to your front door.
- Secure your wi-fi and never use the same wi-fi for your guests as your business network.
- If you accept credit cards, remember you have to follow the PCI Data Security Standard.
If you do not follow it and are breached, you may not be able to accept credit cards again. - Always use strong passwords and multi-factor authentication!
- Stay informed! Share with your local businesses what threats you are experiencing.