Why Independent Businesses are not Immune to Cyber Crime?

Cyber crime costs the Australian economy $1 billion annually, and it’s not just big organisations that are affected. Statistics indicate that independent businesses are the target of 43% of all cyber crime in Australia.

Cyber attacks can be particularly devastating for an independent business. As much as 60% of independent businesses that suffer a major attack are likely to go out of business within six months. In the 2017 ransomware attacks, 22% of businesses were so badly affected they were unable to continue operating.

Here are some protection and prevention tips that you can employ to help reduce the severity of a cyber attack:

  • Awareness – become aware of the risks your business faces online.
  • Technology – use separate logins and passwords, implement access restrictions to sensitive information, perform regular backups, install antivirus
    software, and make sure you are running the latest version of your operating system and have installed any available security patches.
  • Staff training – run regular sessions to ensure your employees know how to recognise hoax emails and the difference between safe and unsafe sites.
  • Security – treat cyber security with the same level of care as you would for securing your office or premises.
  • Get insured – businesses not insured against cyber crime are more likely to suffer devastating financial losses if they suffer a major attack.

Statistics indicate that one-third of businesses with fewer than 100 employees are not proactive in protecting against cyber security breaches. Make sure to reduce your risk by making cyber protection a priority in your business, through awareness, training and of course the right level of insurance coverage as recommended by your Reliance Partners Broker.



Base Source: http://www.asbfeo.gov.au/cybersecurity

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