In 2024 alone, 76 percent of U.S.ÌýbusinessesÌýself-reported a cybersecurity breach or potential breach to authorities,Ìýaccording toÌýApricorn’sÌý2025 annual survey ofÌýU.S.-basedÌýIT security decision-makers.Ìý
And itÌýwasn’tÌýjust large businesses in the crosshairs —ÌýVikingCloud’sÌý2025 SMB Threat LandscapeÌýReportÌýfoundÌýthat one in three small and medium-sized businesses (SMBs) were hit by a successful cyberattack in the past year.ÌýÌý
SMBsÌýare an ideal target for cybercriminals; they have access to valuable data and operationsÌýbut typicallyÌýlackÌýtheÌýextensive security infrastructure of large enterprises.Ìý
SoÌýwhat canÌýSMB leadersÌýdo to better prepare for the latest cybersecurity challenges? The first step is awareness: understanding the latest threats at your doorstep.Ìý
AI-poweredÌýSocialÌýEngineeringÌý
Social engineering is the manipulation of a person’s trust to trick them into sharing sensitive information,ÌýauthorizingÌýfinancial transactions, or compromising enterprise security. These attacks usually use  to gain their target’s trust. Ìý
But AI-based attacksÌýaren’tÌýlimited to email or videos. Phishing links can be delivered viaÌýbrowserÌýpush notifications, SMS, and even phone calls. This makes traditional, rule-based security protocols used by mid-market businesses redundant. To protect themselves,ÌýSMBsÌýshould regularlyÌýmonitor forÌýeveryÌýpossible threatÌýscenario. Ìý
QuantumÌýComputingÌýThreatÌýHorizonÌý
Today’s encryption algorithms rely on tough mathematical problems that even supercomputers need years to solve. However, Gartner predicts that quantum computing will make  fully breakable by 2034. In other words, the foundational security that protects everythingÌý—Ìýfrom online banking to emails, e-commerce, and blockchainÌý—Ìýwill become obsolete overnight.Ìý
SMBsÌýshould track these developments and start budgetingÌýnow toÌýupgrade their cryptographic infrastructure standards in the coming years. IfÌýyou’reÌýusing third-party services or software, make sureÌýthey’reÌýtaking steps to implement quantum security as well.Ìý
Third-partyÌýSecurityÌýRisksÌý
Last year’s  found that 37% of organizations experienced a cybersecurity breach through a third-party vendor. Hackers target smaller vendors because they have limited security infrastructure, making it easier to exploit them. Ìý
OnceÌýthey’reÌýin, hackers can expand their attack to cripple hundreds of businesses associated or linked to the vendor with the intention of reaching their actual target.ÌýÌý
That’sÌýwhat happened with  file transfer app. Attackers exploited a vulnerability in the app to hit one customer, PBI Research Services, which then gave them access to over 2,700Ìýorganizations, affecting 93.3 million individual records in the process.Ìý
Free Resource: For tips and insights on setting up and sustaining a vendor management program with an integrated security review process, clickÌýhere.Ìý
OperationalÌýTechnologyÌýSecurityÌýChallengesÌý
Unlike information technology (IT), operational technology (OT) refers to software systems that manage operational processes like manufacturing, energy, supply chain, and transportation. Ìý
Traditionally, OT systemsÌýoperatedÌýin isolation. Today, however, businesses are connecting OT systems to their corporate network to enable real-time remote monitoring, data analytics, and resource allocation. This convergence makes operations efficient, but it also makes them susceptible to cybersecurity threats.Ìý
In 2024, Russian ransomware group ALPHVÌýBlackCat , compromising operations for hospitals across the U.S.ÌýandÌýimpactingÌýpatient care, revenue, and finances. It took almost three months for affected hospitals to resume normal operations.Ìý
How toÌýAdapt YourÌýStrategy to theÌýNewÌýThreatÌýLandscapeÌý
1. Prioritize Cybersecurity InvestmentÌý
Most mid-market businesses have limited budgets, so ensureÌýyou’reÌýinvesting in areas that hackers typically target. Since most attacks try to steal access to credentials, create a strong authentication system using methods like multi-factor authentication or password-less access. You can also use aÌýthird-party serviceÌýtoÌýmonitorÌýyour vendors for cyber incidents or data leaks.Ìý
To addressÌýthe ever-evolvingÌýthreat landscape, businesses shouldÌýbuild aÌýstrong cybersecurity foundationÌýthat reframesÌýcybersecurity protection and prevention as a coreÌýoperationalÌýissue rather than just an IT responsibility.
FreeÌýResource:ÌýClickÌýhereÌýtoÌýlearn how to build a strongerÌýcybersecurity foundation.ÌýÌý
2. Assess & Test Your VulnerabilitiesÌý
Many breaches come down to fundamental failures like weak passwords, outdated systems, or misconfigured servers. Addressing these shortcomings can significantly reduce cyber incidents.ÌýRegular patch management, vulnerability scanning, and network segmentation, as well asÌýregularÌýcybersecurity auditsÌýcanÌýuncover and fix hidden vulnerabilities. But testing is just as important.
Failing to test your organization’s cybersecurity controls is like having a security system installed in your house … then leaving home without checking your locks.ÌýIt’sÌýan apt analogy that underscores a critical truth about IT resilience: Trust in your systems is good, but verification is essential.ÌýÌý
The importance of testing and assessing cybersecurity controls cannot be overstated. For organizations of all sizes —Ìýespecially those heavily reliant on digital infrastructure — these controls are often the last line of defense against increasingly sophisticated cyber threats.ÌýÌý
Yet, despite the effort spent creating policies, deploying systems, and drafting recovery plans, organizations often neglect toÌývalidateÌýwhether those solutions perform as expected.ÌýRegular testing of cybersecurity controlsÌýis crucial because itÌýwill help you:ÌýÌý
- IdentifyÌýVulnerabilities Before Hackers Do.
- Ensure Systems Work as Intended.
- Adapt to Evolving Threats.
- Strengthen Incident Response Readiness.
- Maintain Compliance.Ìý
FreeÌýResource:ÌýUnderstand the difference between vulnerability assessments and penetration tests — plus best practices —Ìýhere.ÌýÌý
3. Build a Stronger Security CultureÌý
It’sÌýnearly impossibleÌýto prevent every cyberattack, and everyoneÌý—Ìýfrom your summer interns to your CEOÌý— is susceptible. However, some employees may hesitate to report an incident, fearing repercussions for their actions. You can create aÌýmoreÌýcybersecurity-friendly environment byÌýorganizingÌýcontinuous cybersecurity training. Doing so educates employees on the latest threats whileÌýnormalizingÌýconversations about cybersecurity.ÌýÌý
Free Resource:ÌýJoin — or share with your employees — aÌýcybersecurity masterclassÌýthat shows viewers howÌýtoÌýanticipate, withstand, respond to, and recover from modern cyber challenges. Ìý
Unsure if yourÌýorganization’sÌýcybersecurity protections are keeping up withÌýthe latestÌýcybersecurity challenges?ÌýReach out toÌýÐÜèÊÓƵÌýTechnologyÌýÐÜèÊÓƵÌýteamÌýforÌýa free consultation. Ìý
This article was created in collaboration withÌýHLB International, a global network of independent advisory and accounting firms. As a member of HLB, ÐÜèÊÓƵ enables its clients to enjoy access not only to 1,000+ ÐÜèÊÓƵ associates acrossÌýnearly twoÌýdozen offices in the United States but also more than 40,000 tax and advisory professionalsÌýoperatingÌýin 150+ countries. ÌýÌý