SMEs are specific targets for cyber criminals because these companies digitally transform their business processes, but there are measures they can take to protect themselves, Chubb Corp says in a report issued Tuesday.
These crimes are low risk for criminals, says the report Cyber Attack Inevitability: The threat Small and medium-sized businesses cannot ignore. "The technology that provides business efficiency also allows criminal people to quickly and cheaply exploit their abuses and exploitation opportunities," the report says.
However, small and medium-sized leaders often do not have sufficient information on risk protection and assume their risk of cyber attack is relatively small, the report says.
"Cyber criminals knock on this naive" and distribute cyber crime strategies, including stolen email accounts, ransomware and phishing scams and computer staples, the report says. The report says it costs an average of $ 400,000 to recover from a cyber event.
The report says actions that SMEs can take to protect their businesses include creating a cyber attack response plan, using a secure password manager, training employees, installing good antivirus software, operating system updates, and application protection, and network activity protection.
A survey of QBE Insurance (Singapore) Pte Ltd. In January, 80% of SMEs in Singapore lacked internet insurance and several SMEs are slow adopting digitalization.