The CNBC report includes disturbing stories of small business owners whose enteprises were devastated by social enginnering attacks.
“’It’s especially damning for a small business, which has a pretty minuscule security budget compared to a General Electric or GM, which are running the best tools,’ said Greg Hatcher, founder of White Knight Labs.
Companies with 100 or fewer employees experience 350% more social engineering attacks than larger companies, according to Barracuda, a cloud security company. More than half of social engineering attacks are phishing, and one in five organizations had an account compromised in 2021.”