Small business susceptible to cyber attack


Thursday, 11 January, 2018


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If you think your small business is safe from cyber attacks, think again. The Australian Small Business and Family Enterprise Ombudsman (ASBFEO) has published some disturbing data which suggests that 43% of cybercrimes specifically target small business.

More concerning is that 60% of small companies that experience a cyber breach go out of business within six months of being hit.

ASBFEO suggests that a lack of time and resources can lead to complacency among business owners and that many (87%) believe that antivirus software alone will provide enough security. The increasingly sophisticated approach by perpetrators suggests otherwise. Email phishing, malware, ransomware, denial of service and watering hole attacks are becoming more commonplace and harder to spot, putting businesses at risk.

In response, ASBFEO has released the 'Cyber Security Best Practice Guide', which draws information from a more detailed report, which can be found here. The guide and report provide useful information for business owners who wish to understand the risks and employ the most appropriate prevention methods. In addition to utilising online resources such as www.staysmartonline.gov.au, the guide recommends speaking with accountants, IT specialists and specialist government agencies to determine which tools offer the best defence against attack.

ASBFEO says small business shouldn't avoid establishing an online market presence purely because of the threat, as the opportunity and benefits could be immense, but that sensible precautions should be taken to ensure a secure environment. For more information, visit www.asbfeo.gov.au/cybersecurity.

Image credit: ©stock.adobe.com/au/ArtemSam

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