
DFK Gooding Partners
October 22, 2024
In today’s digital age, every Australian business—regardless of its size—is a potential target for cyber-attacks. The consequences of a cyber breach can be devastating, leading to financial losses, reputational damage, and even legal liabilities. Small businesses, in particular, are increasingly vulnerable as they often lack the robust cybersecurity infrastructure that larger organisations have in place. According to a 2023 report by the Australian Cyber Security Centre (ACSC), cybercrime costs Australian businesses billions of dollars each year, with small businesses making up a significant portion of those affected.
Recent high-profile cyber-attacks in Australia have underscored the severity of the threat. For instance, in 2022, Optus, one of Australia’s largest telecommunications companies, suffered a major data breach, compromising the personal information of millions of customers. Similarly, in early 2023, Medibank, a major health insurance provider, was targeted in a ransomware attack that exposed sensitive customer health data.
The Australian Taxation Office (ATO) provides regular practical advice on how to protect your business from cyber-attacks, some of which are included below. By implementing these strategies in your business, you can significantly reduce the risk of a cyber breach.
1. Run the Latest Software Updates
Keeping your software updated is one of the most effective ways to protect your business from cyber threats. Cybercriminals often exploit vulnerabilities in outdated software to gain unauthorized access to systems and data. By running the latest software updates, including operating system and antivirus updates, you ensure that your systems are protected against the latest known threats. Many updates include patches for security vulnerabilities that, if left unaddressed, could be exploited by hackers. Setting up automatic updates can further reduce the risk of missing critical patches and help maintain a secure IT environment.
2. Access Government Services Safely
When accessing online government services, such as myGov, it’s crucial to take extra precautions to ensure that you are interacting with legitimate websites. Cybercriminals often create fake websites that closely resemble official ones to trick users into entering their personal information. To avoid falling victim to these phishing scams, always type the URL directly into your internet browser instead of clicking on links from emails or messages. This simple habit can prevent you from being redirected to malicious sites and ensure that your interactions with government services are secure.
3. Verify Suspicious Contacts
In today’s digital landscape, it’s increasingly difficult to discern genuine communications from scams. Cybercriminals often impersonate legitimate organizations, including the ATO, to deceive individuals into sharing sensitive information. If you receive a suspicious email, SMS, or phone call claiming to be from the ATO, do not engage with it immediately. Instead, visit the ATO’s official website at http://ato.gov.au/scams to verify the legitimacy of the contact. The website provides up-to-date information on the latest scams and offers guidance on how to report them, helping you avoid falling victim to fraud.
4. Educate Staff on Cybersecurity
Your employees are your first line of defense against cyber threats, making it essential to educate them on the importance of cybersecurity. Regular training sessions can help staff recognize common cyber threats, such as phishing emails and social engineering attacks, and teach them how to respond appropriately. Awareness programs should cover topics such as password security, safe browsing practices, and how to identify and report suspicious activity. By fostering a culture of cybersecurity awareness, you can significantly reduce the risk of human error leading to a cyber breach.
5. Be Cautious with Links and Personal Information
Clicking on links in emails or text messages can be risky, especially if the source is unknown or appears suspicious. Cybercriminals often use these tactics to lure individuals into providing personally identifiable information (PII), which can then be used for fraudulent activities. To protect your business, it’s important to verify the legitimacy of any request for personal information before responding. The ATO has taken steps to help taxpayers identify legitimate communications by removing hyperlinks from unsolicited SMS messages, making it easier to distinguish between genuine and fraudulent messages.
6. Safeguard Personal Information on Social Media
Social media platforms have become a common avenue for cybercriminals to gather personal information. It’s important to remember that the ATO will never ask for personal information through social media or private messaging. Sharing sensitive information on these platforms can expose you to identity theft and other forms of cybercrime. Always be cautious about the information you share online and ensure that your privacy settings are configured to limit access to your personal data. When in doubt, contact the organization directly using verified contact information rather than responding through social media.
7. Hang Up on Suspicious Calls
Phone scams are a prevalent method used by cybercriminals to impersonate the ATO and other reputable organizations. These scammers often use high-pressure tactics to coerce individuals into providing sensitive information or making payments. If you receive an unsolicited call claiming to be from the ATO, it’s best to hang up immediately. To verify the legitimacy of the call, look up the official contact number of the ATO yourself and call them directly. Never rely on the contact information provided by the caller, as it may be part of the scam.
8. Utilise ATO Resources for Online Security
The ATO offers a wealth of resources to help taxpayers protect themselves against cyber threats. The ‘Online Security’ section on the ATO’s website provides valuable information on how to stay safe online, including tips on creating strong passwords, securing your devices, and protecting your business from cyber-attacks. Regularly reviewing these resources can help you stay informed about the latest cybersecurity best practices and ensure that your business is taking all necessary steps to mitigate cyber risks.
9. Engage an IT Consultant to Review Your Current Systems
Regularly engaging an IT consultant to review your current systems is an essential step in maintaining robust cybersecurity. Our IT Consulting Services are positioned to conduct a comprehensive assessment of your existing infrastructure and recommend tailored solutions to enhance your security posture.
This consultation process will also ensure your systems are up-to-date with the latest security patches and assist with implementation of best practices to protect your business from evolving cyber threats.
Cyber security should be a critical concern for all businesses, regardless of size
Cybersecurity is a critical concern for all Australian businesses, and the risks posed by cyber-attacks are only increasing. By following ATO recommendations, and implementing robust cybersecurity measures, you can significantly reduce the likelihood of a cyber breach.
At DFK Gooding Partners, our IT team understands the unique challenges that small businesses face in today’s digital landscape. For more information or assistance in this area, please contact us.
Enquire about our outsourced IT services
Complete the quick contact form below with your details and one of our team will be in touch to discuss your requirements. Alternatively, you can call us (08) 9327 1777 or email info@dfkgpca.com.au