3 small business sectors most at risk of cyber attack

2023 is the year cyber criminals are getting smarter. They’re more organised and highly sophisticated, homing in on their targets. As a small business owner, it’s tempting to think why me? Why would a cyber criminal target me? writes Phil Parisis, Head of Product and Sales at My Business, but don’t be fooled …

You may be a small business, but often your business allows a hacker access to a larger organisation up the chain, or gives them valuable information that’s used to extort large sums of money from your clients.

Moreover, these cyber hackers are not a lone person sitting by their computer in a dim room – these are organised crime networks planning unified attacks, and this year there are specific industries they’re likely to set their sights on.

1. Healthcare

The most valuable information that can be purchased on the dark web is health records. Why? Because they’re used to blackmail people. Health records often contain information about an individual that the rest of the world doesn’t know, and often hackers can access large amounts of this data.

It’s not just hospitals that are likely to be targeted, but small businesses too. GP clinics, pathology centres, physiotherapists, pharmacies and psychologists are all expected to be vulnerable to cyber hacks this year.

The critical nature of their services, combined with the shift to virtual care and relatively low levels of cyber controls, make them a prime target for criminals.

2. Transport and logistics

Sometimes cyber attacks are not for financial gain; they can simply be to create chaos. Supply chain disruptions generate a ripple effect across an entire industry, and small businesses can get caught up in these attacks. These hacks are designed to take out a link in the chain, so the rest of the system crumbles.

Don’t be fooled by thinking you won’t be hit just because you’re a small business. An attack on your business may take down hundreds of your clients and cause financial stress and delays that ripple effects across an entire sector.

3. Professional services

The financial services industry is the most hacked sector, and it’s not just banks or large financial institutions that are profitable targets for cyber criminals. Financial planners, mortgage brokers, accountants and solicitors are all seen as easy targets.

Many of these businesses rely on email to send personal data, which can easily be hacked on an unsecured network. In some cases, businesses won’t even know they’ve been infiltrated, and hackers stay in their systems as long as possible to gain as much information and data as they can.

So, what can business owners do to protect themselves?

Whilst businesses in these categories may be at higher risk, all businesses are vulnerable to a cyber attack, regardless of size. So, in every single workplace, your people are your best line of defence.

Cyber criminals usually target staff first, pretending to be somebody else in spear phishing attacks.

Ensure your employees are adequately trained to prevent a breach from happening, and if there is an attack, ensure they know exactly what to do to mitigate the damage.

Don’t make the mistake of thinking a cyber attack will never happen to you. You wouldn’t leave your front door open and unlocked at home, so ensure you’re not doing the same regarding your other most valuable asset – your business.

Find more cyber safety tips and advice for small businesses in our Cyber Security section:

• Change your password! The best way to beat hackers and stay safe online
• Expert advice on how to stay safe from a cyber attack
• Cyber Wardens program will help defend businesses from cyber threats

Want more? Get our newsletter delivered straight to your inbox! Follow Kochie’s Business Builders on Facebook, Twitter, Instagram, and LinkedIn.