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Phishing attacks are a constant thorn in the side of any business, but for small and medium-sized businesses (SMBs), they can be particularly crippling. With limited resources and typically minimal technical defenses, SMBs are prime targets for cybercriminals who use cunning tactics to trick employees into revealing sensitive information or downloading malware.

Many organizations consider cloud computing an essential tool for their operations. In fact, experts estimate the global cloud computing market to hit $670 billion in 2024.

However, this increasing dependence on cloud infrastructure also has a downside: an increase in the number of security breaches.

Technology permeates every aspect of the business landscape, which means aligning your 2024 IT budget with your business goals is no longer a luxury but a necessity. However, many companies still struggle to bridge the gap between technical investments and tangible business outcomes.

In 2013, thieves stole two laptops from Horizon Blue Cross Blue Shield of New Jersey (Horizon BCBSNJ), the state’s largest healthcare provider. The unencrypted laptops contained the electronic protected health information, or ePHI, of nearly 690,000 NJ residents.

In coming up with a cybersecurity budget for your small or medium-sized business in New Jersey, you may find yourself with a dilemma: Where should you spend your money — training your staff on cybersecurity best practices or upgrading your cybersecurity tools?

End-user training versus advanced threat detection
End-user training and advanced threat detection are both crucial components of cybersecurity, but they serve different purposes.

Nowadays, not even the smallest business in New Jersey is safe from cybercriminals. In fact, these hackers may prefer targeting small and medium-sized businesses (SMBs) because they know these companies don’t have huge budgets to spend on cybersecurity.

A quick look at cybercrime statistics will show you that cybercriminals have no intention of backing down. According to a 2023 report by Cybersecurity Ventures, the costs of global cybercrime are expected to hit $8 trillion this year and will increase by 15 percent per year over the next three years.

In 2023, the ominous specter of identity theft looms larger than ever. Recent reports indicate that identity theft continues to plague Americans: in the first half of the year alone, nearly 560,000 cases of identity theft were reported nationwide. This unsettling trend puts 2023 on track to surpass one million identity theft complaints.

In today’s interconnected world where technology is an integral part of our daily lives, the importance of cybersecurity cannot be overstated. As cyberthreats continue to evolve, organizations must empower their employees with the skills and knowledge that will enable them to securely navigate the digital landscape.

Phishing is a social engineering attack that relies on manipulation, deception, and human error to steal vital information and/or to gain unauthorized access to a computer system. In a phishing scam, cybercriminals impersonate trustworthy institutions and send an email asking for personal information, or they instruct recipients to click on a link which would download and install malware onto their device.