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Network Security, News

The Top 5 Cyber Threat Misunderstandings of SMB Decision Makers

Here are 5 cyber threat misunderstandings of SMBs from 500 respondents, thanks to data gathered by a Keeper Security study.

August 23, 2019 TechDecisions Staff Leave a Comment

Cybersecurity Skills Gap

Keeper Security has released their findings after surveying 500 senior decision makers at SMBs surrounding cyber threats. Their findings suggest many businesses are under-prepared for cyber attacks — and that many SMB decision makers have severe cyber threat misunderstandings.

Here are some cyber threat misunderstandings, according to their findings:

1 – Cybersecurity isn’t a priority

  • 60% of respondents say they do not have a cyberattack prevention plan
  • less than 10% of businesses rank cybersecurity as a top business priority
  • nearly half the CEOs, corporate chairs and owners claimed a cyberattack is not likely
  • respondents rank recession (28%), damage to public reputation (19%) and a business model disruption (17%) as the most prominent threats to their businesses

2 – It’s too difficult to begin

  • One out of four (25%) surveyed say they don’t even know where to start

3 – “I’m too small to be a target”

  • 62% of respondents from companies between $1M and 500M in revenue said they believe experiencing a cyberattack is not likely, while companies under a million are even more likely to believe this (73%)
  • Media and entertainment respondents feel the most safe, with only 4% reporting an attack as “very likely” — respondents in financial services, however, say they believe they are most vulnerable to an attack, with nearly half saying an attack is somewhat or very likely

Related: Stay Protected: 5 of the Most Important Cybersecurity Training Tips For Your Employees

4 – It is someone else’s job!

  • 33% of respondents say it is the company leadership’s responsibility to have a plan for cyber threats
  • under 10% say that cybersecurity is up to individual employees
  • 14% of team leaders say company leadership is responsible, whereas over half say it is the job of a dedicated team

5 – Passwords are still awful

  • almost 70% of their survey’s respondents give credence to password strength
  • three-quarters of them have some sort of policy which states employees should update passwords regularly
  • 13% of company leaders were more likely to not know company password policies

The survey was conducted online. All figures are from YouGov Plc. unless otherwise noted.

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Tagged With: Cyber Security, Data Security

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