Protect your business from cyber threats.

Computer hacking has been around for as long as there have been computers.  Once it used to be computer geeks showing the world how smart they were.  Now it's become very serious with almost any person, company or Government at risk from these criminal activities.

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Recent hacks into large corporations have highlighted the need for these organisations to become more secure.  Even more so now there are possible fines of up to $50 million for a financial firm that was recently hacked.  This is serious money and the cost of stopping such attacks is also very high.

Where does this leave small businesses?  A good question, as the level of expertise in most small businesses, is very low and the ability to pay high cyber security costs is low also.  On the other hand, cybercriminals are looking for 'big treasure' for reasons such as identity theft, and it seems obvious that some are also supported by rogue states that want far more than some 'mum and dad' details. 

What can a small business do.? Thankfully, State and Federal governments have made a start but they tend to focus on doing a very thorough job rather than what can be paid for by small businesses.

The following are some actions a small business can take to start moving down the road of improving its cyber security.  Of course, there are many options if funds are available but just helping staff be more aware of what is dangerous is the place to start.

Set out below are actions you can take to help.

1. Review the information at these web addresses:

2. For most small businesses the above is too much to digest but a review is recommended.  Perhaps give a member of staff the responsibility to read this information and then discuss it with staff.

3. For many small businesses it seems that the best place to start is with how staff manage their online activities because it is here where small businesses are most vulnerable.  A web address to help train staff is https://business.gov.au/online/cyber-security/protect-your-business-from-cyber-threats#train-your-staff-to-be-safe-online

 

Cybercriminals rely on the belief that they are better prepared to attack than businesses and governments are prepared to defend.  But they are also timid.  If you take some steps then a bit of pushback will help as, in most cases, the cyber-criminal will go looking for easier targets, and there will be many for them to choose from.

 

 

Peter Graham
 

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Sofie Korac is an Authorised Representative (No. 400164) of Prudentia Financial Planning Pty Ltd, AFSL 544118 and a member of the Association of Financial Advisers.

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