The Facebook Cambridge Analytica scandal demonstrated how data security breaches can impact an organisation, but it is not just large scale projects that can put a company at risk. An employee can set off a security breach by accidentally emailing a file to the wrong person. All businesses need to put in place plans and procedures to minimise risk and protect their information.
Technology has galloped along at a staggering rate in recent years.
From the invention of the first iPhone and the numerous clones that followed, to blockchain technology and cryptocurrency like BitCoin which challenged the traditional banking sector.
This innovation is not showing any signs of slowing down and these are the trends we predict are most likely to take off in 2019.
Technology is everywhere in the modern age, including small business where it is vital to stay updated to remain competitive.
Small and medium enterprises (SMEs) are today most vulnerable to cyber attacks as they are ill-prepared to deal with this modern day menace. Cyber crimes or cyber-enabled crimes hit one in four Australians – or over 6 million Australians – every day, according to the Australian Cyber Security Centre (ACSC). A lot of these attacks on individuals are aimed at getting access to systems of enterprises they are employed in. Many of these enterprises are small and medium businesses.
Office communications were once simple as we all co-existed in the same space.
We would chat around the water cooler, share lunch together, meet together and socialise together to form bonds between office staff.
No longer does your company data need to be stored on local computers with the physical speed of connections varying considerably. Taking your business into the cloud offers so many advantages for businesses of all sizes, including saving time and money. But there are risks, many of which can be mitigated if managed carefully.
The Australian and United States governments take computer security very seriously.
While there is military grade encryption in that sector, the government sector is also protected by the Federal Information Processing Standards (FIPS) which has been developed by National Institute of Standards and Technology (NIST) in accordance with the Federal Information Security Management Act (FISMA) and approved by the Secretary of Commerce.
Cybercrime has become a major problem in Australia, with over 114,000 reports of cybercrime registered with the Australian Cybercrime Online Reporting Network (ACORN) since 2014.
The handling of sensitive customer data in the digital world has become so important that the Federal Government has legislated mandatory data breach notifications, which started in February 2018.
Cyber security laws have changed recently in Australia, with emphasis placed on reporting breaches or facing hefty penalties. No matter what size your company, from micro to medium or large businesses, you need to have a plan in place in the instance of a security attack.
Following is a checklist of what SME’s need to know in order to protect their businesses from cyber attack.
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