SMBs

Unexpected Side Effects: How COVID-19 Affected our Click Habits

Phishing has been around for ages and continues to be one of the most common threats that businesses and home users face today. But it’s not like we haven’t all been hearing about the dangers of phishing for years. So why do people still click? That’s what we wanted...

Key Considerations When Selecting a Web Classification Vendor

Since launching our web classification service in 2006, we’ve seen tremendous interest in our threat and web classification services, along with an evolution of the types and sizes of cybersecurity vendors and service providers looking to integrate this type of...

4 Ways MSPs Can Fine-Tune Their Cybersecurity Go-To-Market Strategy

Today’s work-from-home environment has created an abundance of opportunities for offering new cybersecurity services in addition to your existing business. With cyberattacks increasing in frequency and sophistication, business owners and managers need protection now...

Ransomware: The Bread and Butter of Cybercriminals

Imagine a thief walks into your home and rummages through your personal belongings. But instead of stealing them, he locks all your valuables into a safe and forces you to pay a ransom for the key to unlock the safe. What choice do you have? Substitute your digital...

Top 5 Things SMBs Should Consider When Evaluating a Cybersecurity Strategy

SMBs are overconfident about their cybersecurity posture.

A survey of SMBs conducted by 451 Research found that in the preceding 24 months, 71% of respondents experienced a breach or attack that resulted in operational disruption, reputational damage, significant financial losses or regulatory penalties. At the same time, 49% of the SMBs surveyed said that cybersecurity is a low priority for their business, and 90% believe they have the appropriate security technologies in place. Clearly, SMBs are not correctly evaluating cybersecurity risk.

Many of us can relate – each day we ignore obvious signs that point to a reality that is in direct contrast to our beliefs. For example, as each year passes, most of us get a little slower, muscles ache that never ached before, we get a bit softer around the middle, and we hold our reading material farther away. Yet, we are convinced we could take on an NBA player in a game of one-on-one or complete the American Ninja Warrior obstacle course on the first try. 

While it’s unlikely that most of us can make the improvements needed to compete with elite athletes, the same can’t be said for enterprise cybersecurity. The journey is not an easy one given the security talent vacuum, a lack of domain understanding at the executive level, and the complexity of implementing a long-term, metric-based strategy. But, if you are an SMB struggling to run up and down the proverbial court, here are five things you should consider when building a better security practice:

1.   Experienced staff are valuable, but expensive, assets. 

Although enterprise cybersecurity is a 24/7/365 effort requiring a full roster of experienced professionals, many SMB cybersecurity teams are underequipped to handle the constant deluge of alert notifications, let alone the investigation or remediation processes. In fact, only 23% of survey respondents plan to add staff to their security teams in the coming year. For many SMBs, the security staffing struggles may get worse as 87% reported difficulties in retaining existing security professionals. To fill this gap, SMBs are increasingly turning to MSPs and MSSPs to provide the expertise and resources needed to protect their organizations around the clock.

2.   Executives understand what is at stake, but not what action to take. 

As the threat landscape becomes more treacherous, regulatory requirements multiply, and security incidents become more common, executives at SMBs have become more acutely aware of the business impact of security incidents – most are feeling an urgency to strengthen organizational cybersecurity. However, acknowledging the problem is only the first step of the process. Executives need to interface with their internal security teams, industry experts and MSPs in order to fully understand their organization’s risk portfolio and design a long-term cybersecurity strategy that integrates with business objectives.

3.   Security awareness training (SAT) is low-hanging fruit (if done right). 

According to the 451 Research Voice of the Enterprise: Information Security: Workloads and Key Projects survey, 62% of SMBs said they have a SAT program in place, but 50% are delivering SAT on their own using ‘homegrown’ methods and materials. It should be no surprise that many SMBs described their SAT efforts as ineffective. MSPs are increasingly offering high-quality, comprehensive SAT for a variety of compliance and regulatory frameworks such as PCI-DSS, HIPAA, SOX, ISO, GDPR and GLBA. SMBs looking to strengthen their security posture should look to partner with these MSPs for security awareness training.

4.   Securing now means securing for the future. 

The future of IT architecture will span both private and public clouds. This hybrid- and multi-cloud infrastructure represents a significant challenge for SMBs that require a cybersecurity posture that is both layered and scalable. SMBs need to understand and consider long-term trends when evaluating their current cybersecurity strategy. With this aim in mind, SMBs can turn to MSPs and MSSPs with the experience and toolsets necessary for securing these types of complex environments. 

5.   A metrics-based security approach is needed for true accountability. 

In a rush to shore up organizational security, SMBs might make the all-too-common mistake of equating money spent with security gained. To be clear: spending not backed by strategy and measurement only enhances security posture on the margins, if at all. To get the most bang for each buck, SMBs need to build an accountable security system predicated on quantifiable metrics.Again, this is an area where SMBs can partner with MSPs and MSSPs. This serves as an opportunity to develop cybersecurity strategy with measurable KPIs to ensure security gains are maintained over time. MSPs can help SMBs define the most applicable variables for their IT architectures, whether it be incident response rate, time-to-response or other relevant metrics.

The strategic reevaluation of organizational security is a daunting task for any organization, but given the risks SMBs face and their tendency to be underprepared, it is a necessary challenge. These key points of consideration for SMBs embarking on this critical journey underscore the importance of building an accountable and forward-looking security system and highlight the ways in which SMBs can work alongside MSP or MSSP partners to implement the right cybersecurity system for their organizations. I hope this will be the wake-up call all SMBs need to unleash their inner cybersecurity all-star.

If you’re interested in learning more about how other SMBs are approaching cybersecurity, read my report Security Services Fueling Growth for MSPs.

Reducing Risk with Ongoing Cybersecurity Awareness Training

Threat researchers and other cybersecurity industry analysts spend much of their time trying to anticipate the next major malware strain or exploit with the potential to cause millions of dollars in damage, disrupt global commerce, or put individuals at physical risk by targeting critical infrastructure.

However, a new Webroot survey of principals at 500 small to medium-sized businesses (SMBs), suggests that phishing attacks and other forms of social engineering actually represent the most real and immediate threat to the health of their business.

Twenty-four percent of SMBs consider phishing scams as their most significant threat, the highest for any single method of attack, and ahead of ransomware at 19 percent.

Statistics released by the FBI this past summer in its 2017 Internet Crime Report reinforce the scope of the problem. Costing nearly $30 million in total losses last year, phishing and other social engineering attacks were the third leading crime by volume of complaints, behind only personal data breaches and non-payment/non-delivery of services. Verizon Wireless’s 2018 Data Breach Investigations Report, a thorough and well-researched annual study we cite often, blames 93 percent of successful breaches on phishing and pretexting, another social engineering tactic.

Cybersecurity Awareness Training as the Way Forward

So how are businesses responding? In short, not well.

24 percent of principals see phishing scams as the number one threat facing their business. Only 35 percent are doing something about it with cybersecurity awareness training.

One of the more insidious aspects of phishing as a method of attack is that even some otherwise strong email security gateways, network firewalls and endpoint security solutions are often unable to stop it. The tallest walls in the world won’t protect you when your users give away the keys to the castle. And that’s exactly what happens in a successful phishing scam.

Despite this, our survey found that 65 percent of SMBs reported having no employee training on cybersecurity best practices. So far in 2018, World Cup phishing scams, compromised MailChimp accounts, and opportunist GDPR hoaxers have all experienced some success, among many others.

So, can training change user behavior to stop handing over the keys to the castle? Yes! Cybersecurity awareness training, when it includes features like realistic phishing simulations and engaging, topical content, can elevate the security IQ of users, reducing user error and improving the organization’s security posture along the way.

The research and advisory firm Gartner maintains that applied examples of cybersecurity awareness training easily justify its costs. According to their data, untrained users click on 90 percent of the links within emails received from outside email addresses, causing 10,000 malware infections within a single year. By their calculations, these infections led to an overall loss of productivity of 15,000 hours per year. Assuming an average wage of $85/hr, lost productive costs reach $1,275,000 which does not necessarily account for other potential costs such as reputational damage, remediation cost, or fines associated with breaches.

One premium managed IT firm conducted its first wave of phishing simulation tests and found their failure rate to be approximately 18 percent. But after two to three rounds of training, they saw the rate drop to a much healthier 3 percent.1

And it’s not just phishing attacks users must be trained to identify. Only 20 percent of the SMBs in our survey enforced strong password management. Ransomware also remains a significant threat, and there are technological aspects to regulatory compliance that users are rarely fully trained on. Even the most basic educational courses on these threats would go a long way toward bolstering a user’s security IQ and the organizations cybersecurity posture.

Finding after finding suggests that training on cybersecurity best practices produces results. When implemented as part of a layered cybersecurity strategy, cybersecurity awareness training improves SMB security by reducing the risks of end-user hacking and creating a workforce of cyber-savvy end users with the tools they need to defend themselves from threats.

All that remains to be seen is whether a business will act in time to protect against their next phishing attack and prevent a potentially catastrophic breach.

You can access the findings of our SMB Pulse Survey here.

1 Webroot. “Why Security Awareness Training is an Essential Part of Your Security Strategy” (November, 2018)

Top 3 Questions SMBs Should Ask Potential Service Providers

It can be daunting to step into the often unfamiliar world of security, where you can at times be inundated with technical jargon (and where you face real consequences for making the wrong decision). Employing `

In a study performed by Ponemon Institute, 34% of respondents reported using a managed service provider (MSP) or managed security service provider (MSSP) to handle their cybersecurity, citing their lack of personnel, budget, and confidence with security technologies as driving factors. But how do you find a trustworthy partner to manage your IT matters?

Here are the top 3 questions any business should ask a potential security provider before signing a contract:

 

 

 

 

 

While these are not all of the questions you should consider asking a potential service provider, they can help get the conversation started and ensure you only work with service providers who meet your unique needsservice providers who meet your unique nee.

  1. Ponemon Institute. (2016, June). Retrieved from Ponemon Research: https://signup.keepersecurity.com/state-of-smb-cybersecurity-report/
  2. Ponemon Institute Cost of Data Breach Study: (2017 June) https://www.ibm.com/security/data-breach

Webroot’s 2015 SMB Threat Report: An Analysis

Recently, Webroot published 2015 SMB Threat Report: Are organizations completely ready to stop cyberattacks?, which included the results from a survey of 700 SMB decision makers worldwide about their IT security, their readiness for security response, and use of MSP recourses in their environment.

Many SMBs are outsourcing cybersecurity to managed services providers (MSPs) to make up for the lack of time and in-house expertise. According to the report, 81% of respondents agreed such outsourcing would improve their bandwidth for addressing other tasks. With the majority of SMBs surveyed planning to increase their cybersecurity budget in 2016, VARs across a broad variety of industries are beginning to embrace this service-centric relationship with their clients. For customers, choosing to work with an MSP means they avoid installation and maintenance headaches. They also avoid diverting resources towards laborious IT security support tasks or ad hoc break/fix reseller charges.

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Although SMBs appear more aware of cybersecurity-related risks to their organizations, many are still unsure or under-informed about their own readiness to handle such risks even with heavy investments of time into protecting the environments. Incredibly, even with 56% of respondents reporting over 17 hours spent on cybersecurity, 44% are still feeling they have less time to stay up-to-date on threats.

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Just 37% of IT decision makers surveyed in the US, the UK, and Australia believe their organizations are completely ready to manage IT security and protect against threats. While I am not entirely surprised given the considerable cybersecurity challenges SMBs face, but it’s still an alarmingly low number.

On the flip side, when asked how confident IT decision makers would be that someone on their staff could deal with a cyberattack, a surprising 84% responded confidently. Given the other responses to this survey, this was unexpected and indicates a discrepancy and possible misperception of IT resources, knowledge, and capability to thoroughly address a cyberattack.

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Webroot’s SMB Threat Report makes it clear that the future of security is in need of some change with IT decision makers are stretched thin. In the near future, we should expect a continued movement towards “outsourced IT,” particularly on the cybersecurity front. According to the survey, 81% of respondents believe outsourcing IT solutions would increase their bandwidth to address other areas of their business. In order to reap the full array of benefits, though, IT decision makers must be proactive about identifying MSPs that offer “intelligent cybersecurity” solutions.

Our definition of intelligent? Solutions that are easy to install, can be managed remotely, and provide real-time protection against modern threats. While these are all important qualifications, we expect SMBs to place an increased premium on the “real-time” component.