New Research from AppRiver Reveals SMBs Severely Underestimate the Damaging Consequences of Successful Cyberattacks
AppRiver’s Q3 Cyberthreat Index for Business Survey Reveals a Troublesome Gap Between SMBs’ Threat Risk Perceptions and Reality
The findings expose a common misconception among SMBs surrounding the financial impact a cyberattack can have on their business. According to the survey, two out of three smaller SMBs (67 percent) with 1 to 49 employees believe they will sustain total damages under
Respondents were reminded to consider total estimated damages, including costs of data retrieval, system repairs and upgrades, lost businesses, potential ransom payment, PR and damage control, potential lawsuits, and compensation to customers.
Despite the prevalence of cybersecurity incidents within SMBs (72 percent reported phishing attempts on their business in the last three months) the survey demonstrates that the majority of SMBs are slow to address known vulnerabilities.
Only 38 percent of all survey respondents claim that they apply patches immediately once available – a finding that is consistent among all industries surveyed, including those that handle highly sensitive data, such as healthcare/pharmaceuticals (36 percent), government (36 percent), legal (38 percent) and retail (34 percent).
Beyond patch management, the survey findings indicate that some SMBs are failing to continually improve their cybersecurity readiness overall. Roughly one-third (32 percent) of respondents at smaller SMBs say they “have not done much” to improve their cyber preparedness since 2018. Nevertheless, among these respondents, 37 percent still believe they are in better shape now than last year, and that they believe cybercriminals have done even less to improve their tactics during this period.
“Nearly two decades of constant fear-based messages have taken their toll on smaller SMBs,” said
The quarterly AppRiver Cyberthreat Index for
For the first time since the survey's inception in Q1 2019, the Q3 Index score tipped over the 60-point mark, registering at 60.5 on a 100-point scale and indicating a trend of higher alert among SMBs as compared to Q1 and Q2 of 2019.
“In the wake of major cybersecurity crises this year – from
The complete Q3 Cyberthreat Index for
AppRiver, a Zix company, is a channel-first provider of cloud-enabled security and productivity services, with a 4,500-strong reseller community that protects 60,000 companies worldwide against a growing list of dangerous online threats. Among the world’s top Office 365 and Secure Hosted Exchange providers, the company’s brand is built on highly effective security services backed by 24/7 white-glove Phenomenal Care® customer service. AppRiver is headquartered in
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