When the Best Defence is a Good Offense

SMEs may play a big part in the EU economy, but they’re also a big target for cybercriminals. In fact, in 2023, nearly 43% of all cyberattacks targeted SMEs, with the average cost of an attack ranging anywhere from EUR 110,000 to as much as EUR 1.14 million.

So, what can an SME do to better protect themselves from a cyberattack? “The best defence is a good offense, and in cybersecurity, that means understanding the risks and knowing how to adopt proactive strategies to mitigate those risks,” says SME4DD resident cybersecurity expert Vincenzo Turturro.

To help SMEs with both, SME4DD offers a dedicated course on cybersecurity and data protection. Taught by SME4DD partner Talent Garden, the course is designed to provide SMEs, SME professionals and jobseekers with the essential skills they need to protect and manage information.

The course starts by identifying some of the ‘weak links’ that cybercriminals look for in an SME. For small businesses, these weak points are usually related to human error and basic security oversights. “Employees are often the first line of defence, but without proper training, they can be an SME’s weakest link,” explains Turturro.

To illustrate, he points to a typical ‘phishing’ attack where an employee receives an email that appears to be from a legitimate source, such as a CEO, a trusted supplier, or a bank. The email usually creates a sense of urgency, instructing the employee to either click a malicious link, download an infected attachment, or transfer funds to a fraudulent account. If the employee clicks the link, they may be taken to a fake login page that steals their credentials or, if they transfer funds, the money is sent directly to the criminal.

“Protecting yourself from a cyberattack doesn’t have to be complex, it could be as simple as training your employees, updating your software and changing your passwords,” adds Turturro.

To learn more practical tips for protecting your SME against the increasing risk of a cyberattack, be sure to check out our latest article “SME4DD: Your First Line of Defence Against a Cyberattack”.