Dear Guest,
Beware of bad actors.
No, we're not referring to LeBron James in Space Jam. Today we're talking about cyber threat actors, cyber criminals, blackhat hackers and cyber terrorists. Why? Because cyber experts are warning that current geopolitical tensions are also being played out in cyber space. And small businesses are a target.
Whether they're motivated by money, politics or revenge, a bad actor is someone that maliciously attacks and infiltrates your systems.
Have you ever had your Facebook account hacked? Had some strange transactions on your credit card, or had your computer system immobilised by ransomware? Cyber crime is being reported in Australia at a rate of every 10 minutes. And nearly half of all cyber attacks target small business.
Even Barefoot Investor Scott Pape has revealed he was the victim of a cyber scam.
According to the latest threat intelligence report by Netscout Systems Inc., cyber criminals launched 9.75 million Distributed Denial of Service (DDoS) attacks last year - up 14% on pre-pandemic levels, although down 3% on the previous record number of attacks set in 2020.
The hardest hit sectors included software publishers (606% increase), insurance agencies and brokers (257% increase), computer manufacturers (162% increase), and colleges, university and professional schools (102% increase).
The lesson for all of us is be alert!
The Australian Cyber Security Centre issued an alert following Russia's invasion of Ukraine, and is encouraging all businesses to urgently improve their cyber resilience. Here are three steps you can take today to help prevent cyber attacks.
1. Update your device. Cyber criminals never stop looking for vulnerabilities, so you need to continually download the latest version of software to your devices.
2. Protect your accounts with multi-factor authentication. Some platforms, including Facebook, are proactively encouraging users to set up two-step identity authentication measures.
3. Backup your data regularly to the cloud, or an external hard drive. Why not set a reminder in your calendar to do this at the end of each week? Losing valuable customer information and data could be extremely damaging, not only to the running of your business, but to your reputation.
If you need further information and guidance on how to tighten your cyber security, the Australian Cyber Security Centre has resources specifically for small business.
Don't wait until it's too late!
With courage and hope,
