Cybersecurity and Risk Mitigation for Businesses

Jul 27, 2021

Ransomware attacks in 2020 were up 300% with targets ranging from government agencies to small businesses. Homeland Security Secretary Alejandro Mayorkas says that $350 million was paid out for ransomware attacks last year and small businesses were hit especially hard. “Small businesses comprise approximately one-half to three-quarters of the victims of ransomware,” said Mayorkas. These statistics are estimated to be higher because many organizations and businesses pay what is requested of them and choose not to report an attack in order to keep from losing critical revenue generating operations.

The State of Iowa’s Manufacturing 4.0 initiative stresses how the digital and the physical environments are becoming more intertwined. Look no further than the average car dashboard to understand how GPS systems, bluetooth capability, and physical machinery now go hand-in-hand. In our recent business support program, Cyber Security - Not Your 80’s “Terminator” Movie, Ed Leighton-Dick with Kingfisher Technologies stressed the importance of building cybersecurity into business risk mitigation strategies for small businesses. 2020 has taught the business community the importance of internet connectivity, but all too often the security aspects of protecting a company against cyberattacks can easily get placed on the back burner. Ransomware attacks cost small businesses an average of $80,000/hit. Many businesses do not have the ability to recover from such a financial blow. For more information on long-term cyberattack protection, visit https://fb.watch/5HuaHx3-um.





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