Cyber attacks have become an increasingly common for individuals, governments and businesses. Small businesses are particularly vulnerable. In fact, 35% of SMEs in Singapore were attacked by ransomware in 2016. Furthermore, only 1 in 10 SME directors felt very confident that they could stop an attack. With that said, how worried should you be about cyber security threats to your small business? And what steps should you take to protect your company?

Understanding the Threat: What Are Ransomware and Phishing?

In 2017, 2 in 5 cyber attacks were on SMEs. Most of these attacks come in the form of ransomware or other malware via phishing. Phishing is a method that cyber criminals use to obtain sensitive information from an individual or organisation. Obtaining this information allows attackers to deliver malware, such as ransomware, which inhibits various computer and network functions until a sum of money has been paid to …