Small Businesses at Risk for Cyber Crime, Says FBI

Cyber attacks on small businesses were the majority of complaints reported to the FBI’s Internet Crime Complaint Center in 2021, according to FBI Supervisory Special Agent Michael Sohn.

As cyber criminals, such as hackers, face hurdles and enforced security from larger companies, they now turn to smaller, less reinforced companies. A total of 847,376 reports came in to the FBI Internet Crime Complaint Center last year for cyberattacks and malicious cyber activity, which is up 7% year over year.

Though a 7% increase in reports, the amount of funds lost from these reported attacks totaled $6.9 million, a 64% increase.

Despite the high share of small business attacks, few small business owners seem to mind. A CNBC and SurveyMonkey questionnaire found 61% of surveyed small business owners say they are not concerned their business will be a victim of a cyber attack in the next 12 months.

Another 64% of small business owners reported full confidence they could resolve a cyber attack quickly if one did occur. Just 4% said cybersecurity is the largest risk facing their business.

And Sohn told CNBC recently that many cyberattacks could have been prevented with “very basic cyber hygiene.”

Some tips for basic cyber hygiene include not reusing passwords, remaining consistent with software updates, backing up data offline, and being vigilant about phishing emails.