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According to Small Businesses impacted by cyber crime continues to be on the rise:

“We’ve seen one-person family pizza shops be fully compromised. We’ve seen one-person retail shops compromised. Independent Uber drivers targeted,” he said.

The various types of “bad actors” out there include those just starting out in building their hacking infrastructure and pulling off the equivalent of hacking petty crimes before generating the cash to invest in more sophisticated attacks. The lowest levels of organized cybercrime and individual hacks successfully use business email compromise schemes to extract money from small firms.

“They will go after mom-and-pops and may only get $3,000 or $5,000, but that’s how it all starts. That’s how ransomware started, grandma and grandpa in churches, and how they invested more in hacking infrastructure,” Kennedy said.

He said not having a plan in place to respond to a cyberattack is the No. 1 issue.

“Every organization is susceptible,” he said, and it is not only that many don’t have plan, but have just “a few IT guys and no one dedicated to security.”

Even with this dismal outlook, 59% of small business owners are confident in their ability to resolve a cyber attack quickly.

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