Why Small Businesses In India Should Take Cybersecurity Seriously

  • According to a 2019 study by Accenture, 43% of all cyberattacks worldwide are aimed at SMBs
  • Startups also feature high the list of potential targets of cyber-criminals

NEW DELHI: City-based Virendra Shekhawat, founder of Delhi Photography Club, which teaches photography to beginners through workshops was the target of a cyber-attack in December 2017. The company’s Facebook page which had 2 lakh followers and 10,000 paid subscribers was hacked and Shekhawat was logged out of his own account.

Despite filing a police compliant and paying a ransom, Shekhawat failed to secure access to his account. He finally accessed it after Facebook reset his account. Shekhawat made just ₹12,000 from the page that month compared with monthly earnings of ₹3,00,000 and ₹4,00,000 prior to the attack.

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Cyber-attacks on small- and medium-sized businesses (SMBs) have been on the rise. According to a 2019 study by Accenture, 43% of cyberattacks worldwide are aimed at SMBs. India has 6 crore SMBs that account for 30% of the GDP as per the Confederation of Indian Industry and with the adoption of technology their contribution is only likely to grow.

Source: livemint

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