Understanding Cyber Security: A quick guide for busy business owners

Recent data shows Australians have lost a total of over $72 million to cyber security scams. But it’s also the consequences of a potential data breach of client’s personal details that business owners need to consider especially in light of the tragedy unfolding at Medibank. Cybersecurity is the practice of protecting internet-connected systems such as your data, software and hardware from cyber threats.

Australia has seen an 84 per cent spike in scams since last year, and after two years of remote working, online workspaces have become a haven for cyber criminals. So, as more businesses embrace working from home setups, understanding cyber security has become more imperative than ever for business owners and employees and training your team on what to watch out for can be one of your best defences.

Both business owners and employees need to understand that it is hard to create a fail-safe system and since employees are after all only human, they make mistakes and click on things they shouldn’t. So, regular training updates on cyber security issues is critical.

Cyber criminals have adapted to the online community of vulnerable businesses, using effective tricks to manipulate users into performing actions or revealing passwords.
Despite improvements in technology and threat protection, by far the most common way hackers can get access is through human error. Unlike machines, people get tired or get distracted and it only takes one click on a questionable link or reply to an email for a hacker to gain control. This technique of ‘tricking’ people is called Social Engineering.

Our friends at Strategic Group have included a valuable list of areas you need to pay attention to below and what red flags you and your team should be looking out for.

So talk to your team and make sure they always keep cyber threats in mind particularly when looking at their emails.

Get them to keep an eye out for:

Emails sent from someone inside the organisation of from a customer or vendor that appear to be unusual or out of character
Email messages that seems to be a reply to something you never sent or requested
Email addresses or links that when hovered over with your mouse display a different destination URL than what is displayed
Email attachments that you were not expecting or that makes no sense in relation to the email message

It is scary to see how simple it can be to get caught out!

If you want to learn more about how to protect your business against cyber threats, we encourage you to click through to download the Secure your Business cyber resource that Strategic Group has put together.