KMT Download I The Cyber Edit
The Cyber Security Edit
Published on: October 7th, 2021
Last edited: May 24th, 2023
Hi All,
Welcome back and thanks for reading the KMT Download.
This month we are focused on Cyber Security with October being Cyber Security month.
It is no secret that the new hybrid and remote working habits of Australian Businesses have presented more opportunities for cyber attacks. Cybercriminals have taken advantage of the pandemic, and are constantly on the hunt for poorly secured devices and accounts to exploit, including major attacks such as ransomware, business email compromise and identity theft.
The switch to working remotely added to businesses’ vulnerabilities, with BYOD (Bring your own device) becoming more commonplace, networks being used in ways they were not designed for and employees being less diligent about security protocols.
The modern workplace of today now more than ever need to consider protecting business assets both physical and digital. From a risk perspective, the threat of cyber-attacks are significant and the impact devastating. The good news is that businesses can stop many potential online attacks.
There are a variety of solutions that can help you defend your business from the inside out:
- Cyber Security Awareness Training is integral to your security strategy. Make your teams your main line of defense against cybercrime. Password management, how to recognise suspicious links, and signs of a phishing attempt can protect you from an attack.
- Endpoint Detection & Response (EDR) services to assess threats on vulnerable devices including laptops, tablets, phones and desktop PCs.
- Dark Web Monitoring The dark web is used for keeping internet activity anonymous and private which is helpful for selling personal data collected by illegal means. Dark web monitoring services identify if credentials have been compromised so action can be taken.
- Incident Response plans are designed to detect, manage and mitigate cyber-attacks and breaches. Fast professional responses are critical to ensuring you can recover fast with minimal business disruption.
- Network security keeps networks safe from attacks from bots or cybercriminals trying to access business data. As businesses operate from many locations, the need for working online is crucial.
- Multifactor Authentication (MFA) add an extra layer of security to the sign-in process. Protecting accounts and applications from a cybercriminal being able to breach a password.
The Australian Cyber Security Centre (ACSC) Cyber Security and Australian Small Businesses in 2020 Report, found that 62% of Australian SMBs had experienced a cyber security incident and a cyber crime is reported in Australia every 10 minutes.
Recovering from a cyber incident will impact business continuity to such an extreme that, if the attack doesn’t directly shut down your business, the time and money required to recover from the attack could. In that way, cyber security is not a nice-to-have – it’s a cornerstone of running a successful business.
Security is about proactive protection, rather than passive reaction. Businesses should be on the front foot with a cyber security plan essentially future-proofing your cyber posture.
When it comes to cyber security it pays to be proactive.
If you have any questions, feel free to reach out to your Account Manager or me for a strategy session.
Take Care!
Bradley Kaine
Managing Director – KMT
86%
of people agree they expect businesses will keep personal data they provide secure.
25%
of SME have no formal measures in place to protect information they collect from customers
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