Digital Identity Blog

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No Such Thing as Small Fry in Cyberspace

By ThreatMetrix
ThreatMetrix®, The Digital Identity Company®, is the market-leading cloud solution for authenticating digital personas and transactions on the Internet. Verifying more than 20 billion annual transactions supporting 30,000 websites and 4,000 customers globally through the ThreatMetrix Digital Identity Network®, ThreatMetrix secures businesses and end users against account takeover, payment fraud and fraudulent account registrations resulting from malware and data breaches.
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Cyberthieves Target Every Business Any Size All the Time

At the height of the subprime banking crisis, some companies were bailed out by the government because they were deemed “too big to fail.” Conversely, in the world of cybercrime, as a story points out (link to article), no company is too small to victimize.

Every business is at risk

A partial list from California’s attorney general shows the range and types of small businesses at risk — wine shops, dentist offices, colleges, gay and lesbian community centers, dog tag makers, sporting goods stores. So, who goes around targeting these businesses? Just about every kind of cybermiscreant you can think of: hackers; thieves who rip off office computers; disgruntled vendors who use stolen data to slander businesses or poach employees; ex-employees with an axe to grind.

Case in point

“ of Pennsylvania discovered…someone believed to be a former high-ranking employee accessed the identities of customers all over the country. The retro shirt seller stopped accepting credit cards for four months, launched a new website and blocked all employees from accessing clients’ financial information.” You can imagine the resources in time and money this small company had to expend to put things right.

The cost of a small company breach

And, according to the National Small Business Association, 44 percent of respondents to a survey last year had been victims of at least one cyberattack, with an average $8,699.48 cost for each breach.

By ThreatMetrix Posted