Nearly half of all business owners carry some form of cyber insurance but small businesses lag behind, largely because they don’t see themselves as vulnerable to an attack when, in fact, they are viewed by cybercriminals as the lowest hanging fruit. Rightfully so considering a startling 47% of small to midsize companies have not made cybersecurity a priority.
AFGlobal Corporation, a Texas based AS9100 certified manufacturer servicing the aerospace market, is battling their insurance company in a Texas district court to get back $480,000.00 lost to a cyber scam dubbed “Business Email Compromise” by the Federal Bureau of Investigation (FBI).
Howard A. Miller
In speaking with a number of companies regarding the potential risks of a data breach or unauthorized access, a common response is that we are not on the scale of company such as Target. We do not have the volume of information that would make us a target for attack and therefore do not need to be as concerned with the exposure of a breach of protected or confidential data.