Fuzzy Similarity Measures Approach in Benchmarking Taxonomies of Threats against SMEs in Developing Economies

There are various threats that militate against SMEs in developing economies. However, most SMEs fall on the conservative “TV News Effect” of most-publicized cyber-threats or incidences, with disproportionate mitigation measures. This paper endeavors to establish a taxonomy of threat agents to fill in the void. Various fuzzy similarity measures based on multi-attribute decision-making techniques have been employed in the evaluation. The taxonomy offers a panoramic view of cyber-threats in assessing mission-critical assets, and serves as a benchmark for initiating appropriate mitigation strategies. SMEs in developing economies were strategically interviewed for their expert opinions on various business and security metrics. The study established that natural disasters, which are perennial in most developing economies, are the most critical cyber-threat agent, whilst social engineering is the least critical threat.