Sai Huda is a globally recognized cybersecurity expert and author of the best-selling book Next Level Cybersecurity: Detect the Signals, Stop the Hack.
Q. What is cyber risk?
A. A small business faces several risks that it must manage in order to be successful. A critical risk is cyber. It is the risk of adverse impact to capital, earnings, operations or reputation from a cyberattack.
Q. Why should a small business in Arizona pay attention to cyber risk?
A. There are 590,000 small businesses in Arizona and they are the growth engine of Arizona’s economy. The majority are digital these days. They have computers, use email, have various software to run the business, store data in servers or in the cloud and have a website. This makes them vulnerable to cyber attackers because an attacker can now, from thousands of miles away, break in and steal data or install ransomware and cause significant harm to the small business.
CyberCatch scanned 19,375 small business websites and detected 82% have vulnerabilities on their websites that an attacker can easily exploit and break in through. Per IBM, it costs a small business nearly $3 million to recover from a data breach. In a blind survey of 1,200 small businesses by CyberCatch, 75% said they can survive a ransomware attack for only three to seven days.
Cyber risk can shut down a small business permanently. It is an existential threat. This is why a small business must pay attention to cyber risk.
Q. How does CyberCatch help a small business in Arizona?
A. CyberCatch is solving the root cause of data theft or ransomware: security holes from ineffective cybersecurity controls that the cyber attacker finds and exploits. Our innovative solution first makes sure all necessary controls are in place, then it automatically tests the controls, detects security holes and helps eliminate them so an attacker cannot find and exploit them. Our invention solves the root cause and is the reason we have received patents from the United States Patent and Trademark Office.
Attacking a small business provides a double bounty for attackers. Not only can they steal the small business data and sell it on the dark web while also demanding a ransomware bounty, but also use the data to next break into a larger organization that the small business is a supplier to. Small businesses have limited knowledge about cybersecurity and resources, so they are the most vulnerable. This is why CyberCatch is focused on serving small businesses.
Q. How does the partnership with CyberCatch help members of the Arizona Small Business Association?
A. We are honored to partner with the Arizona Small Business Association. Now, with the partnership, a small business that is a member will receive the CyberCatch solution at a 20% discount as a member benefit. This will provide not only savings but also a highly effective and necessary solution for a small business to stay safe and succeed digitally.
Q. If a small business has anti-virus or has a managed services provider (MSP) handling IT, why does it still need CyberCatch?
A. An anti-virus software is just one control a small business needs and it will only detect malware and ransomware, not why the security hole allowed the malware or ransomware in or where the security hole is. So, a small business is not solving for the root cause: security hole. However, with CyberCatch, you are solving for the root cause because our solution finds and helps you eliminate security holes, so your small business stays safe.
An MSP provides a small business with IT that keeps the business’s lights on. However, IT is not cybersecurity. Information technologists may provide some, but they are not experts like CyberCatch and are not automatically and continuously testing to find and fix security holes so you stay safe. CyberCatch does continuous three-dimensional testing: scanning from the outside to find vulnerabilities on your website, testing your employees with simulated phishing based on latest scams, and testing your controls inside your network to find security holes and helping fix them promptly. Also, we tell you how compliant you are with any cybersecurity requirements. A team of cybersecurity experts is also on call to work with your MSP to help quickly fix any security holes.
Visit CyberCatch at cybercatch.com/asba to see a six-minute demo and learn more about the new ASBA member benefit.
Sai Huda is the Founder, Chairman and CEO at CyberCatch.
