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More Than Half of Australian Small Businesses at Risk of Cyber Attack

by Jawad Jamil | Apr 29, 2019
More Than Half of Australian Small Businesses at Risk of Cyber Attack

In 2018, cyber-attacks increased 300 percent within one year. According to a survey conducted by Allianz Worldwide Partners (AWP), “56% of Australian small businesses either don’t have cyber-crime protection or assume it is covered through their business insurance.”

This is an alarming statistic considering that Australian small businesses ranked cyber risk as third on a list of key business risks, behind economic factors and cash flow.

Of those small businesses that do have security measures in place, only 20% feel that their business is ‘very well’ protected from potential harm.

This suggests that they lack confidence in their current level of protection.

A desktop computer used for business purposes can have a devastating impact on a business if its system is attacked by a cyber-attack. Potential risks include loss of data, compromised financial security, and in worst cases, identity theft.

Small businesses may feel that their systems are protected but it’s only after a cyber-attack they realize they lack the skills to tackle the problem and are unaware of where to turn to for support.

The most common cyber-attacks are in the form of ransomware, spyware, Trojan, virus, and worm. Small businesses should know their anti-virus software can only provide a certain level of protection against these forms of cyber-attacks.

The new cyber protection service from AWP provides system recovery for victims of cyber-attacks. In addition, it offers a single point of contact for small businesses to arrange computer system recovery. This acts as a second line of defense when the anti-virus protection software fails to protect an attack on small business desktops, laptops, tablets, and smartphones.

CEO of AWP comments, “Over 80 percent of people do not feel in control of their online security and 47,000 cyber incidents took place in Australia over the course of 2016-17.” He further added, “It is alarming to see that cybercrime is increasing, yet businesses that regularly review and test IT systems is decreasing – 73 percent in 2015 to 57 percent in 2016. The need for a strong cybersecurity measure has never been greater.”

Symptoms of a cyber-attack can include:

  • Contacts receiving emails that you didn’t send
  • High network activity when not in use
  • Re-directed to unusual websites
  • Unexpected pop-up windows
  • Low on storage for no reason
  • Computer fan running hard
  • Homepage changing
  • Slow performance error messages

If you are running a small business, make sure to install high-quality and up-to-date anti-virus software, always use backup software and don’t click on links that could be encrypted.

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8 Reasons Your Small Business is at risk for a cyber attack