Why many businesses have a false sense of confidence on cybersecurity

A majority of small-business owners and business leaders believe a cyberattack on their own company is inevitable — but many haven’t taken steps to prevent an attack. That’s according to the Travelers Insurance 2022 Travelers Risk Index, which found 59% of business leaders worry a great deal about cyber threats. That echoes other surveys that have found cybersecurity is one of the top concerns for business owners, even at a time of elevated inflation, recession fears and hiring challenges. The survey found many businesses haven’t taken simple steps that have been shown to thwart cyberattacks. For example, just 52% of companies said they have implemented multifactor authentication for remote users.