A recent survey by Mastercard quoted in Accountants Daily (9/11/23) found almost a third of Australian small businesses are cutting back on cybersecurity due to rising costs as higher inflation levels begin to bite. After considering the Optus case studies recently, paying attention to the security/operations of IT systems is probably one of the biggest issues facing businesses of all sizes in 2024.
Better education and awareness of key issues is vital. As well as learning what a scam call or email phishing might look like and how to address it (i.e., never click links or provide information over the phone), business owners could also consider the following points and take action to provide higher security protections if needed:
- Regularly warn all employees about the issues and the risks to business
- Delete shared folders like Dropbox when you are no longer using them
- Always use strong, unique passwords, and don’t use the same passwords for every application
- Remember to update software and install anti-virus programs. If needed, get a professional to assist
- Back up everything, always
- Ensure your iPhone is password-protected
- Ensure shared files or information is not compromised on personal computers or phones
For more information, ASIC has a guide to educate small businesses about the risks of scams here: Scammers taking advantage of COVID-19 to target small businesses | ASIC
