SMBs becoming prime cyber attack targets according to the Acronis Cyberthreats Report mid-year update

Published: Tuesday, 10 August 2021 08:47

Acronis has released its Cyberthreats Report Mid-year 2021 update, an in-depth review of the cyber threat trends the company’s experts are tracking. The report warns that small and medium-sized businesses (SMBs) are at particular risk based on the attack trends seen during the first six months of the year. Despite the perception they are too small to target, SMBs are increasingly vulnerable due to supply-chain attacks and greater use of automation by ransomware groups

The report revealed that during the first half of 2021, four out of five organizations experienced a cyber security breach originating from a vulnerability in their third-party vendor ecosystem. That’s at a time when the average cost of a data breach rose to around $3.56 million, with the average ransomware payment jumping 33 percent to more than $100,000.

“While the increase in attacks affects organizations of all sizes, something that’s under-reported in the coverage of current cyber threat trends is the impact on the small business community,” explained Candid Wüest, Acronis VP of Cyber Protection Research. “Unlike larger corporations, small and medium-sized companies don’t have the money, resources, or staffing expertise needed to counter today’s threats. That’s why they turn to IT service providers – but if those service providers are compromised, those SMBs are at the mercy of the attackers.”

By utilizing supply-chain attacks against managed service providers (MSPs), attackers gain access to both the MSP business and all of its clients. One successful attack means they can breach hundreds or thousands of SMBs downstream.

The Acronis Cyberthreats Report Mid-year 2021 also noted:

 Obtain a copy of the full Acronis Cyberthreats Report Mid-year 2021 here (PDF).