Business and Finance

Beware Of The Cyber Attacks

Cyber-attacks are becoming more frequent, higher in severity and one of the biggest impacts to business in Australia.

Most businesses don’t think it will happen to them but regardless of how big, or small, you think you are, if you use a computer you are vulnerable to it affecting your business.

Cyber-attacks are often referred to as a Cyber Fire. If a fire impacts your business greatly, then a Cyber Fire can have the same ramifications, in some instances far greater.

A common example of a Cyber-attack is what you think is a known email address advising you of a change in bank details and to deposit money into a new account. This may be for the purchase of new equipment or monthly bills that you pay. The email may look normal and from your known supplier or sender, but it is not.

It is a hacker who has copied all of the details and is trying his way to get quick and easy money for them.

A simple solution is whenever you are asked to change bank details, or deposit money, call your known contact and ask that the account details are correct. Do not call the number on the email as that will be the hacker’s number who will confirm they are correct.

Being aware of current cyber risks is one element in helping to protect yourselves, your businesses, and your clients. The importance of being highly vigilant online is increasingly important. Make your staff aware to always check the emails and accounts they are paying in to and ensure they all details are correct. Once the money is gone it is often very hard to get back.

A cyber account is fast becoming one of the biggest impacts to business. And it is not just your business it will affect. It can affect your customers, suppliers, and even your day-to-day contracts.

The ramifications on a business can be huge, particularly as large amounts of money can be taken, or accounts and systems frozen, leaving you unable to operate your business and earn an income. Would you want to lose all the money your business has made and be at a loss personally?

You can be protected by taking out a Cyber Insurance policy.

For Cyber Insurance or other insurance risks speak to Mick Le Grand at Fitzpatrick & Co on (03) 8544 1600 or email, for more information visit
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