While businesses across the country prepare to welcome back their customers, hackers and cyber criminals are actively infiltrating and exploiting small business databases, writes Sen. Jim Risch, R-Idaho.
Chairman Jim Risch, R-Idaho, attends the Senate Foreign Relations Committee confirmation hearing in the Dirksen Building on Wednesday, October 30, 2019.After several difficult months plagued by coronavirus, small business owners across the country are preparing for the day they can finally and permanently reopen their doors.
Cyberattacks have skyrocketed worldwide as criminals capitalize on the confusion and anxiety surrounding the coronavirus pandemic. In a recent press release, the Federal Bureau of Investigation characterized the number of online schemes to swindle both businesses and individuals out of money and personal data as "truly breathtaking."
The long-term consequences of falling victim to a cyberattack can be severe for small businesses seeking to regain their footing after the economic fallout of the Covid-19 pandemic. In 2019, a single data breach cost businesses an average of $200,000, and studies show that 60% of small business victims go out of business within six months of experiencing such a breach.
Earlier this year, I introduced the bipartisan SECURE Small Business Act to help small business owners access information on data protection best practices and enable them to band together to purchase cybersecurity products at lower prices. By prioritizing cyber strategy and investment, small business owners can foster organization-wide cultures of vigilance and risk-mitigation while instituting policies and procedures to keep data secure.
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