Why small infrastructure organizations are at immediate cyber risk.
Author: Amanda Chigumira, Business Development Manager
It is a common and dangerous assumption that the size of your organization is a predictor of your cyber risk. Various sources suggest that the type of industry that you are in is a greater risk factor than the size of your company. Manufacturing, energy, and healthcare top most lists of those targeted by cybercriminals. Like all predators, cybercriminals and terrorists look for the path of least resistance to the most profitable or damaging outcome.
Many organizations choose to pay the ransom because it too is the path of least resistance. According to the 2023 Global Cyber Confidence Index" report by ExtraHop 83% of those subjected to ransom attacks paid at least one ransom.
Let’s explore the reasons why your organization might be at higher risk despite its small footprint.
Limited Resources: Smaller organizations typically have fewer financial and human resources to allocate to cybersecurity efforts. This means they might lack the budget to invest in robust cybersecurity tools, technologies, and personnel, making them an easier target for cybercriminals.
Inadequate Expertise: Larger organizations can afford to hire dedicated cybersecurity teams and professionals. In contrast, smaller organizations might lack the in-house expertise required to effectively defend against sophisticated cyber threats. This makes them more susceptible to falling for phishing attacks, malware infections, and other common attack vectors.
Outdated Systems: Slow-moving organizations may rely on older technology infrastructure and software due to budget constraints. Outdated systems are more likely to have vulnerabilities that can be exploited by cyber attackers, especially if they're no longer receiving security patches and updates.
Limited Awareness: Smaller organizations might not fully understand the range and severity of cyber threats they face. This lack of awareness can lead to complacency or underestimation of the potential impact of a cyber-attack.
Third-Party Risk: Smaller organizations often collaborate with third-party vendors for various services. However, these relationships can inadvertently introduce cybersecurity risks. If a third-party vendor has weaker cybersecurity measures in place, attackers might use them as a stepping stone to target the smaller organization.
Lack of Formal Policies: Larger organizations often have well-established cybersecurity policies, procedures, and incident response plans. Smaller organizations might lack such formal frameworks, leaving them ill-equipped to respond effectively in case of a cyber attack.
Single Point of Failure: In a smaller organization, the absence of redundancy and backup systems can make them more vulnerable to disruptions caused by cyber-attacks. A single successful attack could potentially cripple their operations.
Data Value: Despite their size, smaller organizations can still possess valuable data, such as customer information, financial records, and proprietary data. Cybercriminals know this and might target them precisely because they assume smaller organizations have less robust defenses.
Less Media Attention: Larger organizations tend to attract more media attention when they suffer a cyber attack due to the potential for widespread impact. Smaller organizations can be attractive targets for attackers seeking to exploit vulnerabilities without drawing as much public scrutiny.
Low Priority: Compared to their larger counterparts, smaller organizations might view cybersecurity as a lower priority due to more pressing operational concerns. This mindset can lead to inadequate investments in security measures.
It's important to note that the severity of the threat also depends on the specific industry, the kind of data the organization handles, and its online presence. Nevertheless, small organizations should recognize the importance of cybersecurity and take appropriate measures to protect themselves from potential cyber-attacks.