House Small Business Subcommittee on Health and Technology Chairman Chris Collins (NY-27) today led a hearing to examine the increased volume and complexity of cyber-attacks on small business, especially as new technologies present new challenges, and the role of the federal government in helping address cyber-security issues.
"It is nearly impossible to conduct business today without the Internet and a strong digital infrastructure," said Chairman Collins (NY-27). "Cyber-criminal attacks on small business intellectual property and personal financial information present a serious threat that could potentially impair a business, and the threat is growing as many small firms explore new technologies such as the cloud and mobile computing. The recent string of cyber-attacks on high-profile companies is a stark reminder of the current threat. Although attacks on small businesses don't make the headlines, a recent report shows nearly 20 percent of cyber-attacks are on small firms with less than 250 employees. Unlike a large company, small businesses may not be able to survive a cyber-attack. Washington has begun to realize the importance and immediacy of this threat, but more must be done to help protect this vital segment of our economy from these increasingly complex attacks."
With recent reports of cyber-attacks on corporations, discussions regarding Internet protection strategies have intensified in Washington. As new technologies are deployed, additional opportunities exist for cyber-criminals to attack small businesses and steal their valuable information. Statistics show that nearly 60 percent of small businesses will close within six months after a cyber-attack.