Report Finds Majority of Small and Mid-Sized Businesses Have Experienced Security Breach
Hikvision Takes Proactive Approach to Cybersecurity
In “How Can SMBs Keep Up with Cybersecurity Risks?” Security magazine outlines Cisco’s SMB Cybersecurity Report, which found that 53 percent of small and mid-sized business (SMBs) survey respondents had experienced a security breach.
In addition to experiencing a breach, the financial impact has been significant with 30 percent of mid-market companies reporting the cost of the breach to be below $100,000, while 20 percent reported the cost to be between $1,000,000 and $2,499,999, according to the article.
The report also found that SMBs are most concerned with targeted attacks against employees such as phishing, ransomware, and DDoS attacks, to name a few.
Security magazine interviewed Cisco’s cybersecurity sales director, Paul Barbosa, about the report. In the article, Barbosa commented: “Many SMBs realize they are an attractive target for cybercriminals to attack and are equally exposed to similar threats as their enterprise peers. For those businesses who haven’t made security a priority, it’s important to remember that more than half (54 percent) of all cyberattacks result in financial damages of more than $500,000. That amount is enough to put an unprepared small/mid-market business out of operation–permanently.”
Barbosa made recommendations for SMBs who have concerns and want to boost cybersecurity efforts, such as simplifying their security infrastructure and developing internal security talent when they can. He added, “For SMBs to drive improvements in security, it’s important they recognize that incremental change is better than no change.”
Hikvision has taken a proactive approach to cybersecurity, establishing an online center with firmware updates, the industry’s first source code transparency center, a cybersecurity hotline, and it hosted a series of road shows in U.S. and Canadian cities over the past year. Hikvision also recently announced its achievement of the U.S. Government Federal Information Processing Standard (FIPS) 140-2 Level 1 certification, an encryption standard created by the U.S. National Institute of Standards and Technology (NIST) for its encryption module (HikSSL) to be used in both IP camera and NVR products.
By taking ownership of the cybersecurity process, Hikvision has been able to offer ample resources to help partners address security concerns and adopt cybersecurity best practices. For more, visit this link.