Fact: In 2017, it is estimated over 500,000 Small Businesses in Australia fell victim to cybercrime*.
In this age of rapidly advancing technology and increasing reliance on the internet, cyber criminals are becoming more organised and sophisticated. Gone are the days where you would simply avoid the flashing advert telling you that you had won $1 million, nowadays cyber criminals can quite convincingly impersonate your staff as well as other businesses you correspond with to elicit passwords, bank details and more. Cyber attacks are costing Australia around $1 billion per year, so it is no longer a question of IF your business will be targeted, but WHEN.
Despite advances in cyber security, one third of businesses with fewer than 100 employees do not take proactive measures to prevent cyber breaches. Some basic tips to keep your business safe include:
Maintaining antivirus programs
Regular data backups
Enforcing strong passwords (including upper case, lower case, numbers AND special characters if possible)
In-depth procedures for staff in dealing with suspected fraudulent communications
Purchase Cyber Attack Insurance
Even with all the appropriate security measures in place, a breach is still likely to occur at some point in time. Cyber Insurance offers businesses a way to mitigate this ever-present risk. It should therefore be seen not as a replacement for solid cyber security programs and procedures, but as an extra layer of much-needed protection.
For more information on cyber insurance or to get a quote, click below
Help the fight against Cybercrime. The information you provide will help to build a national picture of cybercrime. A greater understanding of cybercrime will improve our response and help to prevent and disrupt future criminal activity. Report cybercrime here https://report.acorn.gov.au/
By Nikita Willis
Account Executive (Perth Office)
* 516,380 — the number of Australian small businesses that fell victim to cyber crime in 2017, according to Norton.