It has never been more important for small business owners to become aware and get smarter about cyber security. While the big companies are spending billions of dollars on cyber security each year, small and medium-sized businesses (SMBs) are not doing enough to protect themselves from cybercriminals.

According to the ACCC scam activities reported by Australian businesses increased 260 per cent in 2020. In particular, the ACCC specifically highlighted business email compromise scams, which were responsible for $128 million in losses.

Cyber security education seems to be the best way of making your business cyber secure. Here are some of the simple steps everyone can take to create great cyber hygiene habits:

  • Invest In User Awareness and Education
  • Stop reusing passwords
  • Instal the most recent security and software updates
  • Set up multi-factor software authentications if available
  • Effective backups are a great way to keep your data safe
  • Consider cyber insurance policy, it could save you thousands
  • Don’t open suspicious emails
  • Consider engaging a professional IT/security consultant

Small businesses are never going to be able to spend on security and technology as much as the large corporations, but they can always learn how to better manage their cyber security risks. By making smarter cyber security choices rather than relying on business as usual, SMBs can minimise their own risk and do the best by their customers.

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