In the wake of yet another cyber-attack to hit the world this week, including reports of at least two Australian companies affected by the ‘Petya’ ransomware attack, it’s a timely reminder for business owners about the importance of protecting your business from cyber-attacks.

Small business owners can no longer overlook cyber security and are vulnerable to the same scams and cyber-attacks that prey on large corporations and individuals. Business owners may suffer severe ramifications from a significant security breach, which may even hamper your businesses’ ability to continue operating.

According to a 2015 study by US-based Ponemon Institute and IBM, a security breach in Australia can cost millions of dollars, in addition to the reputational damage a high-profile attack can cause.

Here are eight ways you can protect your business from cyber-attacks.

  1. Keep software updated, since updates often include security patches.
  2. Educate all staff regarding the risks and how to protect themselves and the business.
  3. Demand strong passwords for all applications, not just key applications like banking or invoicing.
  4. Use up-to-date security solutions including anti-virus, firewalls, intrusion detection, and threat detection.
  5. Never click on links to banking sites in emails or texts. If in doubt, call the bank directly.
  6. Treat mobile devices the same way you would treat computers as they are equally if not more vulnerable to attack.
  7. Ensure your files are backed up regularly and reliably.
  8. Get professional advice to improve your online security position and conduct a risk assessment. Cyber insurance can protect you and your clients against the damage that can be caused by cyber-attacks, and equip you with the tools you need to recover quickly.

We can refer Cyber Insurance for you, to get a quote please give us a call or send us a message online!

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