By Raffaele Mautone, CEO and Founder of Judy Security
In the 2022 Internet Crime Report produced by the FBI’s Internet Crime Complaint Center (IC3), alarming numbers confirm the persistent threat of cyber actors targeting U.S. networks, critical infrastructure, and, most notably, small and midsize businesses (SMBs). These malicious actors not only compromise data but also hold money hostage, facilitate fraud schemes, and pose a significant threat to businesses.
Most recently, MGM Resorts fell victim to a ransomware attack where they were forced to pay millions in order to get their business back online. Think about the resources and revenue MGM Resorts has, now imagine how an SMB would handle it. Same scenario could be fatal to their business.
Phishing: A Leading Cyber Threat
One of the most prevalent forms of cybercrime highlighted in the report is phishing. The report reveals phishing schemes accounted for 300,497 complaints in 2022 and the leading complaint vs. other attack vectors. Although phishing schemes may seem small in comparison to other cybercrimes, the associated dollar loss reached $52 million, demonstrating that these attacks can have a substantial impact on both individuals and SMBs.
Small Businesses: A Vulnerable BEC Target
Small businesses are extremely vulnerable to these cyber threats because they often lack the resources and expertise to defend against sophisticated attacks. Business Email Compromise (BEC) is one such sophisticated scam that targets both businesses and individuals, manipulating them into transferring funds. According to the report, in Illinois alone, BEC resulted in a loss of $83,883,493, further highlighting the perilous landscape small businesses face.
The Solution: Simple to Use, All-in-One, AI-enabled Cybersecurity Solutions
Small businesses urgently need comprehensive cybersecurity solutions to combat these evolving threats effectively. All-in-one, AI-driven cybersecurity solutions offer a holistic approach to cybersecurity, integrating multiple layers of protection, including antivirus, firewall, email security, and threat detection, while streamlining cybersecurity management through 24/7 automated monitoring. This approach makes it both easy and cost-effective for SMBs to protect their digital assets without the need for increased budgets and resources.
Judy Security: Championing Small Business Cybersecurity
Judy Security offers the only affordable all-in-one cybersecurity solution designed specifically to address the unique needs and challenges faced by SMBs. Judy delivers real-time threat detection, continuous monitoring, and automatic updates, all seamlessly integrated to ensure business remains perpetually safeguarded. Plus, with its low touch install, rapid deployment and ease of management, maintaining Judy is a breeze. Furthermore, Judy’s commitment to excellence extends to 24/7 customer support, offering you peace of mind and real-time visibility and reporting to keep you in the driver's seat.
With cyber threats evolving and menacing small businesses it’s imperative to prioritize cybersecurity and invest in comprehensive solutions like Judy to shield valuable data, finances, and reputation. Waiting until you become a victim is not an option; take proactive measures today to fortify your business against the rising tide of cyber threats in the digital age.