Cyber Criminals are an awful like business people. They are focused on creating the most value out of their efforts. As such, they attack the markets that have the most value for them.
A study in March of 2016 by Carolyn Sun, Entrepreneur Magazine outlined the 15 top SMB revenue generators, aka the kinds of small businesses with all the cash. Congratulations Accounting, Tax Preparation, Bookkeeping and Payroll Services! You are number one with 18.4% of all revenue!
This means that you are a very appealing target for Cyber Crime. Accountants hold vast amounts of their customer’s personal data, they have the information about how their customers pay their taxes and where those refunds should go, and they rely on software and the internet for most of their work.
So what are the Cyber Criminals doing with this knowlege? I’m glad you asked. Forbes has the list of the top 5 industries targeted.
The 5 most cyber-attacked industries in 2015:
The finial data point that sends a clear warning to CPAs and other financial services companies comes in the form of the preferred target for cyber criminals, Small Business (SMB). 70% of all cyber crime is directed towards the SMB market.
To sum up:
CPAs generate the most revenue of all small businesses.
The Financial Services market is #3 in number of attacks.
Cyber Criminals know that CPAs are traditionally very bad at security and target the SMB market for easy wins.
So if you’re a Business Owner who runs an Accounting Firm and you haven’t had a cyber security audit for your company in the last 12 months, you need to put that on the top of your list.
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