Penetration testing, or pentesting, is a simulated cyberattack on a system or network to identify and exploit its vulnerabilities. It is a crucial component of any cybersecurity strategy, especially for small businesses that may not have the resources or expertise to defend against sophisticated threats. By conducting regular pentests, small businesses can assess their security posture, identify gaps, and implement threat remediation measures to comply with industry standards and regulations.

But what are the most common findings of pentesting? What are the typical weaknesses that cybercriminals exploit to compromise small businesses?

1. Ransomware

Ransomware is a type of malware that encrypts the victim's data or systems and demands a ransom for their decryption. It is one of the most prevalent and destructive cyberattacks, affecting businesses of all sizes and sectors. According to Statista, roughly 73% of all organizations fell prey to a ransomware attack in 2023. The 2023 Cybercrime Report put out by Cybersecurity Ventures, forecasts global ransomware damage costs to have reached $42 billion in 2023. They predict this figure will continue to rise, reaching $265 billion by 2031, with attacks happening every two seconds by then.

Ransomware attacks can cripple a small business, resulting in data loss, downtime, reputational damage, legal liability, and financial losses. Moreover, paying the ransom does not guarantee the recovery of the data or the removal of the malware, as some cybercriminals may demand more money or refuse to provide the decryption key.

To prevent ransomware attacks, small businesses should implement the following best practices:

• Backup essential data offline or on a separate network
• Use an anti-malware software with anti-ransomware capabilities
• Update devices and software regularly to fix security vulnerabilities
• Educate employees on how to spot and avoid phishing emails that may deliver ransomware
• Implement a disaster recovery plan to restore operations in case of an attack

2. Business Email Compromise (BEC) Scams

Business email compromise (BEC) scams are a form of social engineering that involves impersonating a legitimate business entity or person, such as a vendor, a client, or a senior executive, to trick the victim into transferring money or disclosing sensitive information. BEC scams are often very sophisticated and convincing, as they leverage research to target specific individuals and organizations.

BEC scams can cause significant financial losses and reputational harm to small businesses, as they may compromise their relationships with their customers, partners, and suppliers. According to the FBI, and their Internet Crime Complaint Center, nearly $51 billion in "exposed losses" were due to BEC from 2013 to 2022. This figure emphasizes the cumulative harm, indicating continued growth over the years.

To protect against BEC scams, small businesses should adopt the following measures:

• Enable multi-factor authentication on all email accounts to prevent unauthorized access
• Verify the identity and legitimacy of the sender before responding to any email requests
• Use encryption and digital signatures to secure email communications
• Establish a verification process for wire transfers and other financial transactions
• Train employees on how to recognize and report suspicious emails

3. Outdated Software and Lack of Patching

One of the most common and easily exploitable vulnerabilities in small business cybersecurity is the use of outdated software and the lack of patching. Software updates and patches are essential to fix bugs, improve performance, and address security flaws that may expose the system or network to cyberattacks. However, many small businesses fail to keep their software up to date, either due to negligence, lack of awareness, or resource constraints. Moreover, many of these vulnerabilities affected remote work, VPN, or cloud-based technologies, which became more widely used by small businesses amid the COVID-19 pandemic.

To reduce the risk of cyberattacks due to outdated software and lack of patching, small businesses should implement the following practices:

• Prioritize and apply patches and updates as soon as they are available
• Use a centralized patch management system to automate and streamline the process
• Remove or replace any software or hardware that is no longer supported by the vendor
• Conduct regular vulnerability scans and pentests to identify and remediate any issues

4. Weak Passwords and Authentication Practices

Another common and easily preventable vulnerability in small business cybersecurity is the use of weak passwords and authentication practices. Passwords are the first line of defense against unauthorized access to systems and data, but many small businesses and their employees use passwords that are easy to guess, crack, or steal. For example, some of the most common passwords used in 2020 were "123456", "password", and "qwerty".

Weak passwords and authentication practices can compromise the security of small businesses, as they can allow cybercriminals to gain access to sensitive information, steal identities, conduct fraud, or launch further attacks. Verizon's 2023 Data Breach Investigations Report: It found that 81% of confirmed breaches involved weak, reused, or stolen passwords. This suggests that weak passwords are indeed a major factor in cybercrime.

REMEMBER: Your passwords should be like your underwear! Don’t share them. Change them often. And the best ones are exotic.

To strengthen passwords and authentication practices, small businesses should follow these guidelines:

• Use strong and unique passwords for each account and device, consisting of at least 12 characters, including numbers, symbols, and upper- and lower-case letters
• Change passwords regularly and avoid reusing them across different platforms
• Use a password manager to store and manage passwords securely
• Enable multi-factor authentication (MFA) on all accounts and devices, especially those that contain or access sensitive data
• Educate employees on how to create and protect passwords and avoid phishing and other attacks that may compromise them

5. Insider Threats and Data Leaks

The last but not least common finding of pentesting is insider threats and data leaks. Insider threats are malicious or negligent actions by current or former employees, contractors, or partners that may compromise the security of the organization. Data leaks are unauthorized or accidental disclosures of confidential or sensitive information to external parties.

Insider threats and data leaks can pose serious risks to small businesses, as they can result in financial losses, legal consequences, reputational damage, and competitive disadvantage. According to DTEX and the Ponemon Institute's latest Cost of Insider Risks report, the average annual cost of an insider risk incident reached $16.2 million in 2023, up from $15.4 million in 2022. This represents a significant increase of 40% over four years.

To prevent insider threats and data leaks, small businesses should implement the following strategies:

• Conduct background checks and security screenings for all employees, contractors, and partners
• Define and enforce policies and procedures for data access, usage, and sharing
• Implement data loss prevention (DLP) tools to monitor and control data transfers and prevent unauthorized or accidental disclosures
• Encrypt and backup data to protect it from theft or loss
• Provide security awareness and training to employees and foster a culture of trust and accountability

Conclusion

Penetration testing is a valuable tool for small businesses to improve their cybersecurity and resilience. By identifying and exploiting the most common vulnerabilities, pentesting can help small businesses to prioritize and implement threat remediation measures, comply with industry standards and regulations, and protect their assets and reputation from cyberattacks.

However, pentesting alone is not enough to ensure the security of small businesses. Small businesses also need to adopt a proactive and holistic approach to cybersecurity, involving regular monitoring, updating, auditing, and testing of their systems and networks, as well as educating and empowering their employees and stakeholders to be part of the solution.

If you need help with pentesting or any other aspect of cybersecurity, contact us today. We are a team of experienced and certified cybersecurity professionals who can help you assess, improve, and maintain your cybersecurity posture. We offer a range of services, including pentesting, vulnerability assessment, risk management, compliance, and incident response. We can help you protect your small business from the most common and emerging cyber threats. Contact us today for a free consultation and quote.