Low unemployment and a flourishing economy is exacerbating Australia’s cybercrime. According to Gartner, Australia is expected to spend $3.8 billion on cybersecurity in 2018, up 6.5 percent from 2017. With larger companies upping the ante, malicious attackers are turning to easier wins within the small to medium business market.
Stressing the importance, Trevor Pangbourne, Technical Director at NetWirelesssaid earlier today; “Small to medium businesses cannot be complacent and must be made aware that they are at risk from attacks. You do not want to be hacked and have your business in less favourable hands!”
The Australian Computer Society (ACS) states; 43% of cybercrime in Australia is in the small business community and around 63% of cyber-attacks are achieved through weak, default or stolen passwords. Adding to this, at a recent cybersecurity event in Melbourne, Jacqui McNamara, Head of Security at Telstra emphasised “Small to medium businesses need to be aware that if they are attacked, 70% will go out of business within 24 months due to losing their customers trust.”
With exponential growth expected in the technology arena it is anticipated that higher security threats will be created by magnitude. Australian companies, large and small, not affected by the latest wave of technologically advanced ransomware (Wannacry & NotPetya) cannot become complacent and must continue to ensure updates and patches to their software and network hardware are implemented to continue to protect themselves. Wannacry is still active and still capable. It is even anticipated that DDOS attacks (almost non-existent currently due to software protection) could become more prevalent with increased use of IOT/BYOD.
Combatting security is a multi-pronged attack that spans hardware, software through to policy and people. With the geographical location and the size of the company irrelevant to everyday cyber attackers, there is a responsibility for all companies to reduce the risk of exploitation by protecting their systems, processes and data. The newly defined Australian Data Breach Act 2018 is now active. Businesses must, by law, report any data breaches their company has encountered or face heavy fines. The Australian government, Federal Police and the Australian Cyber Security Council (ACSC) are all working in collaboration to ensure our economy and businesses remain safeguarded.
Each company has a responsibility to protect its own assets and become part of the team driving security within Australia. The challenge, still and will always lie in the balance between privacy and security, speaking to a NetWireless Security consultant can help to define your security strategy. In the meantime, here is a list of simple safeguards for your business.
Simple Actions to Help Prevent a Cyber Attack
– Ensure your people are aware about the range of high level security threats. Collaborate across your entire organisation, educating teams about Adware, Spyware, Viruses, Scams, Spam, Malicious Software, Phishing Emails/Websites, Trojan Horses, Men in the Middle, Drive by Downloads, Zombies/Bots, Waterholes and Ransomware.
– Back up your information and business critical applications. This is critical in the event of an attack. You can roll back your systems to maintain a working environment.
– Test your back up system regularly and ensure your back up systems are readily available.
– Use strong passwords which are changed and updated regularly, avoiding passwords which are readable and easily decipherable.
– Use Two-factor authentication where possible.
– Stay up to date with the latest’s scams and phishing emails. – Check in with the Australian Cybersecurity Council for the latest information on threats and attacks within our business community.
– Update antivirus/malware software.
– Set systems and software to automatically update.
– Lock iPad and laptops, so if physically stolen, sensitive data is protected.
– Ensure software developers not only create functioning applications but also encourage them to consider security at the development phase.
– Cloud solutions are beneficial in that they are backed by large security budgets; Consider more cloud solutions.
And if that still fails, which it might, small to medium businesses need to know what to do when things go wrong. Would you know what to do if under attack? Speak to NetWireless today to ensure you are collaboratively working to safeguard Australia.
NOTE: The new WPA3 standard is due to be released shortly. Sign up to our newsletter to be notified immediately when you can apply the updated wireless network standard.
NetWireless is a multi-disciplinary IT network and management company specialising in Wi-Fi design, deployment, security and managed services. Speak to our technical consultants today (CALL 1300 324 844) to ensure your network infrastructure needs are met.