Forbes Technology Council Member Aliasgar Dohadwala points out that for small and medium enterprises (SMEs), the consequences of ransomware can be catastrophic, with 60 percent of small businesses shutting their doors within six months of a major cyberattack, according to Cybersecurity Ventures.
Why are SMEs targeted? Dohadwala, a Board Member at the Dubai Chamber of Commerce Cybersecurity Group, offers 3 reasons in his Forbes article:
Cybercriminals see SMEs as “low-hanging fruit.” Limited cybersecurity budgets, outdated technologies, and a lack of dedicated IT security teams;
SMEs often hold critical customer data and proprietary business information, making them lucrative targets;
Cybercriminals capitalize on the misconception that smaller organizations are too small to attack, which leads to higher success rates.
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