EFFECTED USERS: Every business of every size.

Hair on fire 4 out of 5

SUMMARY: All execs, owners and IT people involved with SMB’s and other Corporations

SHOW NOTES:

In 2024, Business Email Compromise and Funds Transfer Fraud accounted for 60% of all cyber insurance claims, with average losses reaching $44,500 per incident, according to the Coalition 2025 Cyber Claims Report.

The average ransomware claim? Nearly $292,000. But those numbers are lower than the previous year. NOT good news – evidence that smaller business being targeted.

And yet, many small businesses still believe they’re too small to be targeted. But cybercriminals aren’t just going after the big fish anymore—they’re casting wider nets, and Main Street is squarely in their sights.

According to Cork Security witnessed 2.3M compliance events focused on SMB’s (1K emp or less). Volume trending up Month over Month. Most common payout Cork Warranty payouts is a result of BEC. More evidence that BEC is on the rise: Cork reports: 709% increase in BEC.

Today on DIYcyberGuy, we’re joined by Dan Candee, CEO of Cork—a company redefining how Managed Service Providers and small businesses approach cyber risk.

With a background at AWS and Dell, Dan brings a unique perspective on why traditional cyber insurance isn’t enough, and how Cork’s innovative cyber warranty model is changing the game.

Welcome Dan!

Q: Dan you have thousands of customers – do you have any real like examples of how everyday business people are being tricked by the cybercriminals.

Q: What would you say to a SMB owner (or exec) that thinks they are too small to be a target for Business Email Compromise?