According to the 2020 Verizon Data Breach Investigations Report, Small Businesses are seeing the same cyberattacks and techniques as large enterprises in contrast to previous years. It also stated that the last time Verizon researchers tracked small business attacks was in 2013.
Previously, the small businesses were hit by payment card cybercrime. However, today attackers are focusing on hitting the web applications and errors due to configuration. The external attackers are targeting Small-Medium Businesses, just like large enterprises, based on the Verizon report.
It was found that small companies with less than 1,000 employees are witnessing the same kind of attacks as large enterprises. The reason probably is SMBs have adjusted their business models to be cloud-based and function more like large companies. Verizon mentioned –
“Breaches are more than twice as common in the larger companies than in the small ones. Does this mean the small organizations are flying under the radar, or are they simply not aware they’ve received visitors of the uninvited variety? And the inequality between the two when it comes to the number of incidents is staggering. Is it an obvious case of “mo’ money, mo’ problems” for large enterprises?”
SMBs discover breaches quickly compared to large enterprises that take months or years to find out.