Cyber security has become an essential part of business but its significance is still largely taken for granted in the small-to-medium business (SMB) space. This is perfectly understandable, as many SMBs are more concerned with generating sales, nurturing customer relationships, and exploring innovation and growth opportunities to keep the lights on. However, it has become more important than ever for business owners to consider their resilience against potential cyber threats, making a Cyber Security Audit a growing priority.
Hang on, what makes a Cyber Security Audit so important?
Cyber security has become increasingly vital as technology continues to evolve. What was once a nuisance virus that disrupted your internet connection has come an incredibly sinister range of cyberattacks that can steal information, affect business operations and can impact businesses financially. These threats include:
- Phishing attacks , which are one of the most common cyber risks out there. They involve sending emails, messages, or websites URLs that seem legitimate but are in fact designed to convince you to willingly send information such as passwords and credit card details.
- Malware and spyware , which are malicious software programs designed to infiltrate systems and steal information by spreading through infected files, software downloads, or compromised websites.
- Ransomware attacks , in which the attacker encrypts the victim’s data and demands payment in exchange for providing the decryption key or restoring access to the compromised data or system.
- Social engineering attacks , where the goal is to manipulate individuals into divulging information or taking actions that compromise security.
The trouble is that these cyber risks aren’t always enough of a motivator to invest more in cyber security for businesses, much less a Cyber Security Audit.
According to the Australian Cyber Security Centre, which surveyed small businesses about security, many business owners claimed they understood the importance of cyber security but admitted to having ‘below average’ understanding of why. In other words, we understand that cybercrime exists, but there are still many of us that still quite don’t understand the impact cyber threats have on business.
Here are some important considerations for cybercrime, and why a Cyber Security Audit is important.
What does ‘data’ mean these days? It defines a lot about business
When we talk about ‘stealing your data’, it involves more than a cybercriminal hacking into ones and zeroes.
Stolen data actually carries real-world ramifications, as ‘data’ can be attributed to all digital information related to financial details, personal information or access codes like passwords. A successful attack not only causes immediate damage but can sometime stick around, impacting operations in the future.
Without cyber security management, the result can be costly
On average, the Australian Cyber Security Centre (ACSC) receives a cybercrime report every seven minutes. This equates to more than 76,000 cybercrime reports and more than $98 million in financial losses.
Cyberattacks are becoming more sophisticated and sinister
Old cyber attacks were clumsy, obvious and, let’s be honest, embarrassing. No one who was even remotely computer savvy fell for unfamiliar chain emails or suspicious URLS. In the old days, a simple antivirus and a keen eye were all that were needed. Today, cyber attacks are designed to circumvent modern systems and are much harder to spot if you’re not careful.
Successful cyberattacks hurt more than just your business
Cybercriminals can not only steal employee data through your system, but they can also target your supply chain to gain unauthorised access. This can be successful if there are weaknesses in third-party vendor or supplier systems, which ultimately impact your partners.
Successful cyber security management start with an audit
A Cyber Security Audit will help you evaluate your business’ current security measures and identify vulnerabilities. It can help ensure your business is compliant with the current cyber protection regulations and helps inform what you need to protect sensitive data, maintain business continuity, and uphold customer trust.
Here are some more cyber security strategies to protect against threats.
Update software and back up data regularly: Keep your operating systems, applications, and antivirus software up to date. Updates often include security patches that address known vulnerabilities. It’s also important to regularly back up your important data to an external source to in the event of a ransomware attack or data loss.
Stay informed: Stay Regularly educate yourself and your family members about potential risks and how to identify suspicious activity.
Secure your network: Protect your network with a strong, unique password. Consider using a firewall and encrypting your Wi-Fi network to prevent unauthorised access.
Stay alert, stay cautious: Exercise caution when clicking on links or downloading attachments from unknown sources. Verify the legitimacy of emails and messages before sharing any personal information.
Strengthen passwords and authentication: Use strong, unique passwords for each online account and enable two-factor authentication (2FA) whenever possible. This adds an extra layer of security by requiring a secondary form of verification.
Ever Nimble can make your Cyber Security Audit simple
Ever Nimble is available to help your business become stronger in the face of modern cyber risks.
We are offering a complimentary Cyber Security Audit that includes an initial review of your current firewalls, security software and regulatory compliance.
We’ll also provide recommendations of how you can address issues and capitalise on strengths that are discovered throughout the audit.
Click here to register for an audit and we one of our experts will be in touch soon!