With more and more business operations carried out over the Internet, it’s no surprise that cyber-attacks are among the most threatening risks for businesses this year. Most experts believe, however, that while the risk of cybercrimes is rising in Australia, it might take more than a year for businesses to fully realise its danger.
Cybercrimes had definitely taken its toll on the Australian economy, costing more than $1.65 billion worth of losses per year. At times, cyber-attacks could be elaborate, initiated by anonymous hackers to obtain an exorbitant amount of money from businesses. On the other hand, even employees can put businesses at risk of cybercrimes, with breaches happening due to simple occurrences, such as sending a confidential email to the wrong person. With these growing risks to a business, it’s increasingly important to seek help from insurance brokers in the Sunshine Coast to be protected from potential losses due to cybercrime.
Malwares and Viruses
Sad to say, a business isn’t only at risk of cybercrime due to hackers and unintentional breaches by employees. The latest research coming from cybersecurity firm F-Secure found that even viruses and malwares could leave businesses vulnerable to cyber-attacks. The research identified Majava, a type of malware, as the most prevalent in Australia and New Zealand, affecting over 400 out of 10,000 users. Another type of malware, Sinowal, which targets sensitive information such as user names and passwords of banking accounts, is also named as one of the ten most prevalent malwares in Australia.
The research also discovered that 48 per cent of malware in Australia occurred in the old versions of Java and other unpatched software. While most users are knowledgeable when it comes to updating their operating systems and browsers, they tend to forget updating plug-ins such as Java and Adobe Flash, which makes them quite susceptible to cyber-attacks.
How to Protect Sensitive Information
F-Secure chief research officer Mikko Hypponen stated that malware threats are on the rise and has grown dramatically, thus individuals and businesses must practice utmost caution when storing sensitive information online. “Protecting your privacy online is critical, not only for individuals who are entitled to privacy as a human right, but also for businesses who store sensitive customer and employee information, as well as other commercially valuable data,” Hypponen stated.
Basic ways such as running regular anti-virus checks on computers and encrypting sensitive data can greatly contribute to a better protection against cybercrimes. It also helps to acquire the help of an insurance broker in the Sunshine Coast, such as those from Insuring theProduct, who can get to know your business’ insurance needs and provide you with the best possible policy and premium.
(Source: Top Australian virus revealed: What’s infecting your company?, ARN, February 2, 2015)