Cybercrime is a growing threat in Australia, and businesses like yours are on the front lines. According to the Australian Cyber Security Centre (ACSC), the average cost of cybercrime for small businesses has skyrocketed to $46,000, and for medium businesses, it increased to $97,000. These attacks can steal your data, lock you out of your systems, and damage your reputation – a chilling prospect for any business owner.

Here at SMIKTECK, we understand the importance of cybersecurity. That’s why we’re outlining the top 7 cyberattacks plaguing Australian companies, along with proven strategies to keep them at bay.

1. Phishing Emails

Imagine this: an email lands in your employee’s inbox, looking like it’s from their bank or a trusted vendor. One click on a malicious link, and bam! Your company’s data is exposed. 

Prevention Tips:

• Train employees to recognise phishing emails.
• Verify the sender’s email address before responding.
• Implement strict email policies and educate staff on what types of information should never be shared via email.

2. Ransomware

Ransomware is a type of malware that encrypts a company’s data, demanding payment for its release. This form of attack can cripple business operations and lead to severe financial consequences.

Prevention Tips:

• Regularly backup data and store it offline.
• Install and update comprehensive security software.
• Educate employees about the dangers of downloading unsolicited attachments.

3. Malware

Malware encompasses various malicious software designed to damage or gain unauthorised access to systems. Types of malware include spyware, which collects information covertly, and worms, which can spread across networks.

Prevention Tips:

• Use antivirus software and keep it updated.
• Enable automated system updates.
• Implement advanced access controls to limit software installations.

4. DDoS Attacks

Distributed Denial of Service (DDoS) attacks overwhelm a website with traffic, rendering it inaccessible to legitimate users. This can lead to significant financial losses and damage to customer trust.

Prevention Tips:

• Use a web application firewall to filter traffic.
• Minimise the attack surface by securing network entry points.
• Implement DDoS mitigation services.

5. Internal Threats

Internal threats can originate from employees who, intentionally or unintentionally, compromise security. These threats can be challenging to detect and mitigate.

Prevention Tips:

• Implement strict access controls and monitor employee access.
• Conduct regular cybersecurity training sessions.
• Maintain detailed records of access permissions.

6. Trojans

Trojans are malicious programs disguised as legitimate software. Cybercriminals can use them to gain backdoor access to systems, often through trusted vendors or phishing emails.

Prevention Tips:

• Thoroughly vet and monitor software vendors.
• Educate employees on the risks of downloading unauthorised software.
• Use security software to detect and block trojans.

7. Password Attacks

Password attacks involve cybercriminals attempting to gain access to accounts through techniques like brute force attacks or phishing. Weak passwords are a significant vulnerability.

Prevention Tips:

• Enforce strong password policies.
• Implement multi-factor authentication (MFA).
• Encourage the use of password management tools.

Don’t Be a Sitting Duck!

Understanding these threats is the first step. At SMIKTECK, we take cybersecurity seriously, which is why we implement the Essential Eight. Developed by the Australian Cyber Security Centre (ACSC), the Essential Eight is a set of eight cybersecurity strategies designed to prevent and mitigate cyber attacks.  Our team of IT professionals tailors the implementation of the Essential Eight to your business’s specific needs, ensuring that you are protected against the most common and damaging cybersecurity threats.

We employ a variety of tools and approaches beyond the Essential Eight to ensure your business security, including:

• Technology risk audits
• Real-time monitoring
• Secure offsite backups
• Disaster recovery plans
• Security awareness training
• Risk mitigation strategies

To maintain your security and compliance, contact the SMIKTECK team today. Let us build a fortress around your business, secure your future, and keep your customers trusting you!