81% of Small Businesses Sustained a Cyber Incident Over the Past Year
Eighty-one percent of small businesses suffered a security or data breach over the past year, and 38% of these businesses were forced to raise their prices as a result, a report from the Identity Theft Resource Center (ITRC) has found. The report notes that external hackers have overtaken malicious insiders as the most common root cause of these incidents. This trend is partially driven by AI-assisted social engineering attacks, which were cited as a root cause by more than 41% of victims.