Provident Bank Survey: Small Businesses Bracing for Russian Cyberattacks

A majority of the nation’s small business owners—78%—say they are concerned about the threat of a Russian cyberattack in light of recent news coverage, according to new survey data released by New Jersey-based Provident Bank earlier this week. Looking ahead to the next 12 months, three in 10 survey respondents said it is “very likely” their business will experience a cyberattack or cybersecurity breach, compared to just 11% who said it was not likely at all.

Seven in 10 small business owners said that addressing a cyberattack or breach was part of their business continuity plan; however, just half said they are actually fully prepared to face a cyberattack on their organization. A similar percentage (around 50%) said that the threat of a cyberattack is something they think about nearly every day.

The most common steps taken by small business owners to protect their business and their customers’ data included using a secure wi-fi network, using antivirus or anti-phishing software, backing up data, using a VPN and using a password protector tool. When asked how long it takes the business to recover from a cyberattack or security breach, 19.3% said they could recover within hours, 22.5% said within a day and 21.5% said within a month.

Businesses reported that over the past 12 months, malicious cyber activity has contributed to increased IT costs, reputational damage, intellectual property loss and lost productivity, among other things.

Share this post:

Comments on "Provident Bank Survey: Small Businesses Bracing for Russian Cyberattacks"

Comments 0-5 of 0

Please login to comment