Good Simply Isn’t Enough

The Hidden Costs of Poor Cybersecurity Measures for Small Businesses

Cybersecurity measures for small businesses is a major topic as we head into 2021.

It comes as no surprise, given the pandemic, the increasing number of attacks, and various high-profile companies making the news.

Zoom came to the forefront of cybersecurity issues when it became known that they didn’t provide end-to-end encryption of customer’s communication. The company reached a settlement with the US Federal Trade Commission for misrepresenting its security features.

The Impact of Corona Virus on Cyber Security

The COVID-19 (Coronavirus) pandemic is spreading globally at an alarming rate, and along with disruption in global health, it is also causing damages to social, economic and political systems all over the world. Nearly the entire world workforce is now working remotely from homes, causing them to heavily rely on digital tools and remote means of communication. This has allowed cyber criminals to capitalize the situation and actively exploit the COVID-19 crisis. According to the Global Cyber Security Market Analysis report released in April 2020, the global cyber security market is forecasted to grow at a very slow average rate of 6.2% per annum up to the year 2023 – as a consequence of economic downfall due to the 2020 coronavirus pandemic.