Seyoung Jeon

speaker

38 appearances 1 recordings 1 series first heard Aug 2025 last heard Aug 2025

Seyoung Jeon’s voice in public audio — every appearance, attributed to the second.

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WSJ What’s News · How Small Businesses Can Fight a Growing Wave of Cyber Crime · 10 Aug 2025 podcast

In my monitoring of these cybercrime and ransomware groups, something that is quite surprising is seeing how many small and medium-sized businesses appear in their victims list, even though for these major cybercrime groups these wouldn't seem like obvious targets.

And it really just has to do with the fact that cybercriminals generally go for the path of least resistance, meaning they are trying to get the biggest payout for the least amount of effort.

And the reality is a lot of small and medium-sized firms have invested less in cybersecurity protections and are less equipped to respond to these sorts of incidents.

For a lot of small and even medium-sized businesses, they don't really have specialized cybersecurity departments.

They'll have IT staff, maybe a couple of people working on this, but no one that actually has a lot of experience necessarily in things like incident response or more advanced cybersecurity setups.

So this means that when you have a small business that experiences a cyber attack, they are usually less able to mitigate the impact of it early on.

So when an attacker gets into a company's internal networks, you can limit the scale of the damage by, for instance, isolating them and preventing them from accessing a lot more system files.

But when you don't have people who are able to respond to that readily, especially since cyber attacks also happen out of office hours, that's why small and medium-sized businesses can be so heavily affected.

Apart from just being unable to limit the impact of the attack, there is also a lot of ancillary effects like the cost of notifying customers of a data breach that's occurred.

That's a very common effect of a ransomware attack.

And even a small business can have clients all over the world, which means that they would have to comply with different data privacy regulations and notify their customers accordingly.

And doing that can become very, very expensive.

There is also, of course, reputational damage, especially in industries where privacy is considered very, very important.

Things like law firms, healthcare companies.

There's also the potential legal fallout of failing to report a cybersecurity breach on time.

Well, in terms of what companies can actually do to protect themselves, a lot of cyber attacks occur through social engineering.

So it's by convincing people to click on links or to download certain files that are malicious that allow an attacker into that system.

Now, the internet is pretty much built on connectivity, not security.

So in a way, it makes sense that a lot of people are susceptible to these types of attacks.

Because if you see a hyperlink, because it's highlighted in a different color, that invites you to click it.

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