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Cyberattacks — Huge Risk For Small Businesses

Stroz Friedberg is a specialized risk management firm built to help clients solve the complex challenges prevalent in today’s digital, connected, and regulated business world

Massive data breaches at huge companies get most of the attention–keeping corporate boards and affected consumers up at night–but hacking attacks on small businesses can also cause nightmares and put the local restaurant chain or mom and pop shop out of business…

But, companies of all sizes need to make sure they keep up their cybersecurity protections. Small businesses may not hold the same treasure trove of data compared to behemoths such as Equifax, but they still offer a fruitful bounty for hacker’s hoping to gain a quick buck or craft their skills.

Jason Hogg, CEO of Stroz Friedberg and leader of Aon Cyber Solutions in New York, told Bloomberg BNA that small businesses often don’t have “the subject matter experience” and technical know-how to architect and implement enhanced cybersecurity protections “to remediate intrusions quickly.” For a small business, a cyberattack is “usually a knock-out punch,” he said.

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