Security Threats Against Business
Cybercrime has increased 600% over the past year with 43% of attacks targeting SMEs. These are some of the modern cyber security threats facing Australian businesses and what can be done to protect your business from hackers.
Key IT Security Stats
- 1 cyber crime is committed every 10 minutes against Australian businesses.
- 94% of malware is delivered by email.
- 95% of cyber breaches were as a result of human error.
- On average only 5% of business data folders are correctly secured.
How Cyber Criminals Are Adapting Their Attacks
Cyber security attacks are getting smarter or more risk aware. The opportunities to gain access to business data has certainly increased but so too have the costs and risks.
1. Cost Benefit Analysis
Research by Tenable (a US cyber security giant) suggests that cyber criminals are now conducting a cost-benefit analysis before launching an attack.
Many countries, including Australia have strengthened their laws around cyber crime and are more active in prosecuting these criminals. The risk of prosecution needs to be taken into account as well as the cost involved in launching a successful cyber attack. Many companies (especially medium and large sized ones) have extensive cyber security measures in place now which require additional time, money and resources to overcome.
Cyber criminals are therefore expected to consider the return on their investment in 2022 before striking. This means that for businesses that are not adequately protected, the reward may significantly outweigh the risk. If your business is not secured, you may find your self in the reward column.
2. Increased Data
As 5G rolls out and more and more smart IoT devices are adopted, data will flow faster and in greater volumes than ever before. These devices are not easy to secure and maintain en-masse, especially when utilized in open, public spaces.
This produces a greater opportunity for cyber crime to take place, particularly with remote work and remote access, here to stay.
3. Attacks Via SaaS Platforms
With the proliferation of online software platforms and cloud based products, cyber security is faced with a major challenge.
Instead of targeting a business or individual users, criminals can go after a large platform, used by millions to gain access to business data, records and financial information.
Take Office 365 as an example. It is estimated that the platform has over 250 million users worldwide. When their platform is breached (as it has been before), your business could be exposed unless you have additional layers of security in place already in place.
Common Threats To Look Out For
Cyber criminals typically target businesses via malware, phishing attacks or ransomware. They tend to rely on the fact that most small business owners don’t have standard operating procedures guiding online security, don’t have tight controls over the use and access of IT infrastructure, and don’t consistently train their staff about IT security threats.
Many business owners simply aren’t aware of the deluge of cyber threats being launched against Australian businesses on a daily basis or mistakenly believe that they won’t become a cyber crime victim.
Unfortunately, all it takes is for something quick and seemingly insignificant, like an employee clicking on an email link or using public wifi in a coffee shop and your business can be exposed.
7 Strategies To Protect Your Business From Hackers
With cyber security attacks coming at us frequently and strategically, it’s more important than ever to safeguard your business.
Here’s a few ways to protect your business from hackers:
- Train your staff (start with our free cyber security checklist)
- Keep your software and antivirus updated
- Set controls over employee access to sensitive information and files
- Secure your wifi network
- Establish rules around password management
- Use and maintain a firewall
- Use endpoint security protection
Or outsource to a managed IT security service provider who can take care of all of this plus more for you.
Expert IT Security For Your Business
9spheres Technologies has been proactively protecting Brisbane businesses since 2009. We start by auditing your existing security infrastructure and business practices and then develop a clear strategy for you.
We offer complete IT security, from hardware protocols on your servers and wifi infrastructure, to securing your cloud access and file sharing / management.
Speak to our team today for a free consultation.
