While it’s common to assume that cybercriminals only seek out large organisations and large paydays, attacks on small businesses continue to rise. In fact, small businesses and organisations make up 43% of cybercrime victims, and the average cost of these breaches are between $36,000 and $50,000.
In 2019, 1 in 3 Australians were affected by cybercrime, and of the small businesses which experience a breach, 22% of them were unable to continue operations. This blow to the economy, and our back pockets, is why it’s important to be vigilant, aware, and keep security front of mind.
It’s time to keep your digital door locked, so read on to learn more.
Why is cybersecurity so important?
Your business is only as secure as its weakest link, so it’s important to ensure your entire organisation understands how to remain secure, and how to spot any potential threats. Small business cyber attacks can actually be extremely lucrative for criminals, as they don’t require sophisticated tools or processes to make a breach, as small businesses are generally less secure and more vulnerable to an attack.
Cyber attacks can put your money, data, and IT equipment at risk. A significant amount of damage can be done if a hacker gains access to client and staff information, credit card information, banking details, product designs, and manufacturing processes. Not only does a hacker pose a risk to your business, but they can use you as a stepping stone into accessing other people or businesses within your networks. The knock on effect of such can cause both financial and emotional damage to you and those around you. Coupled with this, the reputational damage a brand can incur from a cybersecurity attack can be devastating.
What are the most common cybersecurity breaches?
The most common types of attacks are malware and phishing, which are both often sent from what looks like a legitimate source.
We’ve all received an email at least once from a royal prince in a far-away land claiming to have millions of dollars for us. Most of us can spot a fraudulent email such as this from a mile away. However, emails often provide the first breach of security because they are widely used to send invoices, banking details, and personal information. Cyber criminals have made advancements in the way they craft and deliver an email, where those who are less informed can easily fall for the trap. The tell-tale signs of an attempted cyberattack are misspelled words, uncommon phrasing, or requests from the sender to provide information or perform an action which is not commonly asked of you.
Password breaches also make up over 80% of hacking incidents. For many people, there’s so many passwords for so many programs and applications today, they become complacent and reuse passwords. For a cybercriminal, this is one of the easiest ways to gain access to a multitude of information and data.
How you can better protect your business and your team
Prevention is better than cure. There are a number of things that you can do to protect your business and your team from any potential cyberattacks.
- Create both a disaster response and incident management plan. Dealing with an incident is significantly less stressful if you’ve already planned for it. Think about what your business will do in order to continue and survive after a potential security breach, and ensure your team knows who to speak to if an attack or attempted attack occurs.
- Use an email spam filter. While spam filters are effective, some emails can still fall through the cracks. By marking any potential email attacks as spam, you will train your filter into becoming more effective. If you notice an unusual email, check the “from” email address, and call or text the alleged sender to confirm the legitimacy of the email.
Read the full article to learn more about how you can keep yourself protected online: https://gipps.tech/blog/cybersecurity-is-your-digital-door-secure
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