This year has been quite rough for small and medium businesses (SMBs) in Australia, with around 60% facing cybersecurity incidents or breach attempts. Ransomware, phishing attacks, and credential stuffing have been particularly concerning, with businesses like Dan Murphy’s, The Iconic, and Yakult facing major breaches.
The Australian Labor Party also faced one of the largest government-related data breaches, affecting key departments. This should be more than enough proof that small businesses are not exempt from being targeted by ill-intended actors.
Yet, according to a recent report by Cohesity, over half of Australian IT and security professionals fell victim to a ransomware attack. In today’s blog post, we’ll analyse the findings of this report and look at the steps any SMB can take to avoid becoming the next victim.
3 in 5 IT Professionals Have Fallen Victim To Ransomware
The aforementioned report polled 502 IT and security decision-makers in Australia, and even though half of them recognised paying ransom for their data in the last year, four in five respondents still felt confident in their capacity to keep up with modern cyber threats.
Additionally, many respondents expressed confidence in their cybersecurity procedures. However, when questioned about the time needed to restore data in case of a breach, the average was around one week.
This is one week of downtime or operating at reduced capacity. Most SMBs can’t afford this type of loss in revenue. Not to mention the hit to your reputation as a reliable business and the fines accompanying such an event!
The report also found that many SMBs base their cybersecurity confidence on legacy processes that are no longer effective in defending against modern cyber threats. These processes were often developed to address the security needs of earlier computing environments, but with advancements in technology and more sophisticated cyber threats, they can become a liability.
Nowadays, it’s no longer a matter of “if my business will be targeted” but a matter of “when.” Therefore, investing in proper cybersecurity measures and policies is a must-do.
Steps to Improve Cybersecurity
The best way to boost your organisation’s protection against cyber threats is by taking the steps to implement a recognised security standard, such as ISO/IEC 27001 or NIST Cybersecurity Framework.
They help you ensure regulatory compliance and establish robust practices to protect sensitive data and prevent breaches. It’s also a fantastic way to earn your business partners’ and customers’ trust.
However, many SMBs don’t have the necessary resources to get an advanced industry framework like ISO/IEC 27001. If this is the case, you can start at a lower level with an SMB1001 Gold+.
The SMB1001 (available in five tiers, from Bronze to Diamond) is a cybersecurity certification for small and medium-sized businesses. It helps companies implement effective security practices without breaking the bank or compromising security measures.
Onsite Helper is already at SMB1001 Gold level, and we’ve helped several clients implement it for their operations. So, our well-trained and experienced experts can help you set everything up swiftly and smoothly.
Give us a call or send us an email, and let us review your IT security capabilities to see if you have the correct systems in place to make your cybersecurity bulletproof. We can also run a VAPT (Vulnerability Assessment and Penetration Testing) to see how secure your IT systems are.
If you’re ready to take the steps to care-free business operations, contact our team of experts today!
