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TheStreet Open House

Small Businesses Under-Estimating Cyber Threats

Stocks in this article: SYMCHPQSNE

Symantec's Garcia-Manrique touted cloud-based security technologies (which, incidentally, the company sells) as a way for small firms to gain the expertise needed to lock down data.

The Mountain View, Calif.-based firm is not the only tech heavyweight banging the cybersecurity drum. Last week, research from the Ponemon Institute, sponsored by HP (HPQ), warned that the cost of cybercrime is increasing dramatically for businesses.

A number of big-name firms, such as Sony (SNE), have already hit the headlines after suffering cyber attacks.

Last month, security guru Eugene Kaspersky, CEO of Kaspersky Lab, warned that hackers could shut down power in most of the world within a matter of decades.

Defense Secretary Leon Panetta also warned of a looming "cyber pearl harbor" during a speech in New York last week, outlining the potential for a massive attack against critical U.S. infrastructure.

A number of large U.S. financial institutions have faced significant denial-of-service attacks recently, alarming experts with the speed and the scale of the digital assaults.

Symantec shares closed up 0.45% at $17.96 on Monday.

-- Written by James Rogers in New York.

>To submit a news tip, send an email to: tips@thestreet.com.

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