(Editor’s note: This is the first installment of a monthly guest column on the growing number of cyber threats facing businesses of all sizes and what they can do about it.)
As the speed of business and the rate of technology adoption increases, so do the risks to businesses of all sizes, their clients and employees.
Yet many business leaders still have not taken desperately needed steps to protect against modern-day cyber risk.
Why is that? Because criminals mostly target only big companies based in major cities?
Right here in Rhode Island, our very own Narragansett Bay Commission reportedly paid a $250,000 ransom to end a cyberattack.
And the R.I. Public Transit Authority paid cybercriminals a reported $170,000 in ransom in a 2021 data breach that affected 22,000 Rhode Islanders.
A single data breach can cost a company millions of dollars in financial loss – not to mention the damage that a breach causes to a business’s reputation.
The reality is that every company that uses even a single computer to do business is at risk, including yours.
There was a reported 1,070% increase in ransomware attacks…
