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Infographic: Small Business, Big Risk

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Over 71 percent of cyberattacks occur at businesses with fewer than 100 employees, and the average estimated loss to a business for each violation is more than $7,100. But just because your business is small doesn’t mean it can’t be powerful at identifying risk and preventing fraudulent activities. By implementing proper precautions through employee training, technology updates, vendor communication and security policies, you can help safeguard your company against this omnipresent threat. 

[hed] Small Business, Big Risk: Keep Your Company Safe From Cyberattacks [dek] Over 71 percent of cyberattacks occur at businesses with fewer than 100 employees1  [intro] When it comes to preventing cyberattacks at your small business, education is key. Take the proper precautions to safeguard your company today.   [subhed 1] The Reality of Small Business Cyberattacks2   The most common cyberattacks are computer hacks. 34% Computer hacks  31% Stolen credit card information  [call out for credit card stat above] If you’re a retail store or accept credit cards, make sure you are PCI compliant. Also, don’t assume you have fraud protection. You don’t want to be held liable for stolen customer credit card information.  17% Website hacks  13% Entire network hacks 10% Bank account hacks  7% Company information hacks from a third-party  2% Cloud data hacks  How long does it take a business to resolve an attack? As of December 2015: < 1 day: 24%  1-3 days: 34% 3-7 days: 15%  > 1 week: 10% > 2 weeks: 16%   What’s the damage of a cyberattack?  •	$7,115.26  Average estimated cost to the business  •	$32,020.56 Average money stolen from a company’s bank account   [subhed 2] Protect Your Business from This Pricey Risk  Keep hackers away with these 7 tips:  1. Update your software programs: When your software notifies you about an update, don't delay.  2. Educate your employees: 14.9% of hacking incidents occur because of employee error.3 So, inform your staff about the danger of potential cyber risks.  3. Implement formal security policies: There's a new identity theft victim every two seconds,4 so require strong passwords and change them every 60 to 90 days. 4. Practice your incident response plan: Run a drill of your response plan so your staff can quickly detect and contain a potential breach. 5. Consider mobile device policies: Explain the importance of mobile cybersecurity to all of your employees. 6. Explore additional protections from various suppliers: This holds especially true for platforms with financial transaction information. 7. Prevent employee password and sign-in sharing: Keep this information secret, and ensure your CPAs, administrative staff and consultants have separate sign-ins.

Explore how SunTrust can help safeguard your business against fraud and other security threats. A SunTrust Treasury Sales Officer can assist.

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