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CSID Study Finds That Small Businesses Have a Disconnect Between Awareness and Action When it Comes to Cyber Security Threats

CSID, the global leader in identity protection and fraud detection technologies and solutions, recently conducted a survey to determine what security threats small businesses (under 100 employees) are most concerned about and how they are addressing these threats. The survey results demonstrate that while small businesses are concerned about the growing number of cyber security threats, there is a disconnect between awareness and action. Most notably, the survey revealed:

  • 63% of small businesses reported that they are worried about undetected malware, 38% are worried about phishing attacks and 41% are concerned about breaches caused by human error.
  • Despite these worries, 31% of small businesses still reported that they are not doing anything to protect against these threats.
  • As a small business grows, so too does the business’ attention to security measures. 29% of small businesses with 1-9 employees are working with a third party vendor to help with security. This number jumps to 45% of businesses with 10-19 and 20-99 employees.
  • Business credit plays a large role in the business’ viability when first starting out. 43% of small business decision makers are aware of this fact, yet only 26% know their credit score. And with almost 50% of the small businesses surveyed indicating that they never check their business credit score, it’s clear that the cyber security risk for small businesses is real.

“Small businesses are in a tough position when it comes to cyber security. They face a growing number of threats and attention by cyber criminals and don’t have the time or resources that larger enterprises have to devote to cyber security,” said Bryan Hjelm, Vice President of Product and Marketing at CSID. “It is going to be increasingly important for small businesses to be aware of the threats they face and learn how to address them effectively with limited resources. Our goal here is to help them do this.”

According to Symantec’s Internet Threat Report 2014, small businesses were targeted in 30% of all cyber attacks in 2013. This is up from 18% in 2011.

CSID will host a webinar on June 10 at 12 p.m. CT to discuss how security risks and priorities change as a business grows and best practices for small business owners to combat these evolving risks. Panelists will include Bryan Hjelm, with CSID, Byron Acohido, with The Last Watchdog and The Securitist, and Aaron Hanson with Symantec. Register today to attend the webinar.

About CSID

CSID is the leading provider of global, enterprise-level identity protection and fraud detection technologies and solutions to the world’s top companies and government organizations. With CSID’s advanced enterprise-level solutions, businesses can take a proactive approach to protecting the identities of their customers all around the world. Products go beyond credit monitoring and include full-service identity theft protection; insurance and restoration; identity authentication and voice biometrics; and proactive breach preparation from discovery to resolution. Join CSID on Facebook at https://www.facebook.com/CSID and on Twitter at @CSIdentity.

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