One of the most startling cyber security findings to come from the global pandemic was the statistic that more data records were compromised in the last 12 months than the previous 15 years combined.
Let's let that sink in for a moment, and take a look at some other startling statistics on the current state of Australian cyber security.
- 144 - The number of cybercrimes reported to the Australian Cyber Security Centre per day.
- $2.15 million - the average cost of each data breach in Australia.
- 1 in 5 - The number of Australian SMB's who are unaware of the term "phishing".
- $500 or less - the amount that almost half of Australian SMB's report they spend on cyber security each year.
These statistics should ring alarm bells for business owners. With such a spike in cyber crime in the last 12 months alone, it unfortunately, is a matter of when, not if, your organisation will fall victim of an attack.
And while no organisation will ever be truly safe from cyber threats, here are 3 signs that your business is at high risk of cyber attack.
1. Your employees are not trained in cybersecurity awareness
The major cause of serious cybersecurity breaches in Australian organisations is confirmed to be the employees in your team.
The purpose of Cybersecurity Awareness Training is to educate staff about cyber threats and attacks they may be subjected to each day. Training for all levels of users in your organisation on cybersecurity awareness raises people’s vigilance on what to look for to spot a cybersecurity threat, as well as having the skills to safely take the appropriate action required if they do receive a malicious attempt.
Cybersecurity training for all levels of employees (your human firewall) is every bit as important as the other means of protection, including software, hardware and physical security practices.
2. Your organisation does not use multi-factor authentication (MFA)
Multi-factor Authentication (MFA) is the simplest and the most effective tool to provide another layer on top of the login credentials and has proved particularly vital to those logging into systems remotely (which of course is the 'new norm' for a high percentage of today's modern workforce).
In February of this year, Australian Assistant Defence Minister, Andrew Hastie, again urged Australian businesses and citizens to use MFA for enhanced cyber protection.
Implementing MFA means that if one of your employees has had their login credentials compromised by social engineering or data theft, an intruder still won’t have access without the secondary authentication methods.
MFA can be seamlessly deployed within your business to ensure your users are secure with the support of a trusted technology provider.
3. Your anti-virus solution is out of date
Research completed by the ASBFEO found that 87% of SMEs believe their business is safe from cyberattacks because they use anti-virus software.
We find this statistic particularly alarming, and it is a demonstration of the 'it won't happen to me' mindset that many business leaders unfortunately still hold.
Cyber threats have changed and are increasingly sophisticated, with many cyber criminals 'cracking the code' of traditional anti-virus in order to access business data and complete malicious activities. Modern security solutions, such as next generation threat detection, uses real time predictive methods which harness the power of artificial intelligence, behavioural analysis and machine learning to detect both current and emerging threats, such as 'zero-day' attacks.
If you are still using traditional anti-virus solutions, the time to re-evaluate your cyber defences and upgrade to modern solutions is now.
How Diamond IT can support your cyber security
Our Business Technology Managers (BTMs) and Technology Consulting team are specialists in improving your internal cybersecurity. We offer a range of specialised services to ensure your organisation is protected, including:
If you need support with your cyber security strategy, contact our team on 1300 307 907 today.
Sources: Results from the Australian Cyber Security Centre Small Business Survey.
Australia's 2020 Cyber Security Strategy - The Australian Government.
