Cyber security is a huge threat to every business – no matter the size.
Businesses today face an ever increasing threat from cyber criminals. Think we are making this up to scare you ? A report commissioned by Microsoft found that the potential direct economic loss of cyber security incidents on Australian businesses can hit a staggering AU$29 billion per year.
The report also found that 55% – or more than half the organisations surveyed in Australia had experienced a cyber security incident in just 5 months prior to the survey.
The single biggest threat comes in the form of what they call social engineering.
Forget the old click on a dodgy link , infect your computer with malware style of threat. Cyber criminals are FAR smarter than that these days.
They combine psychology with their technical knowledge – and they are very successful.
In 2016, Mattel (toy making giant), nearly lost $3 Million to Chinese hackers who orchestrated a very well timed and highly targeted spear phishing attack against a senior finance executive by utilising sophististicated social engineering techniques. On that occasion, they managed by sheer luck to retrieve the money – but that is out of the ordinary.
Unfortunately, we see it regularly..even with small, locally owned and operated businesses.
Dont think just because you dont consider yourself a target… that scammers and cyber criminals wont focus on your business. It has become big business. It’s not just done by tech nerds in Russian data centres anymore. These criminals are clever – so clever that many businesses dont know they have been robbed until it is well and truly too late.
Just recently we had a solo owner-operator come and see us. Hackers had gained access to his email account, and without his knowledge, they had monitored his emails. Then they found invoices he had sent to clients, they changed the bank details on the invoice and re-sent the email to the customer with wording to suggest he had a new bank account and forgot to update the invoice … could they please make their payment to the new account only. They then deleted the email they sent so he had no idea! And yes… at least $20,000 of invoices were paid into a hackers account.
This sort of thing is real and it happens every day. Had this customer had at least Multi Factor Authentication on his email account – they would never have been able to get in… sometimes very simple steps can massively improve your security.
The bottom line is – you need to take the cyber security of your business seriously.
We can help you by implenting not only the right security measures within your IT systems – but also providing education on how to avoid being taken advantage of.