The Council of Small Business Organisations Australia (COSBOA) is calling on small businesses throughout Australia to take proactive steps to protect themselves from cyber threats during Cyber Security Awareness Month.
COSBOA emphasizes the importance of enrolling in the Cyber Wardens program, a free initiative that offers essential tools and knowledge to safeguard business operations against cyber threats. This program also aims to cultivate a culture of vigilance and security within small business teams, ensuring everyone is equipped to handle potential cyber challenges. With cyber crime posing an increasing risk, COSBOA is taking a leadership role in safeguarding small businesses across the country this October. As part of its commitment to Cyber Security Awareness Month, COSBOA is actively participating in the “Stop the Hack” campaign, which is specifically designed to tackle the escalating problem of cyber crime. The campaign aims to raise awareness and encourage small business owners to enhance their cyber security defenses.
To further support small businesses, COSBOA is promoting the Cyber Wardens training program, which is available at no cost. This initiative provides participants with a practical understanding of cyber security threats and effective measures to counteract them. By enrolling in the Cyber Wardens program, small business owners can strengthen their security practices, protect their valuable data, and empower their employees to be vigilant against potential cyber attacks. The ultimate goal is to create a more resilient and security-aware business environment throughout the Australian small business community. The Stop the Hack campaign is a key initiative within the broader framework of the National Cyber Strategy led by both industry and government, to raise awareness about cyber threats and provide businesses with practical solutions.
A clear and growing threat
Cyber crime continues to pose serious risks to small businesses in Australia, with the average financial loss per attack reaching $46,000. Businesses can experience devastating downtime, often losing up to 25 hours of operational time in the aftermath of an attack. Compounding these issues, nearly 95% of breaches are caused by human error, making proper training and awareness critical.
COSBOA CEO Luke Achterstraat noted that small businesses represent 43% of all cyber crime targets. The need for robust security practices has never been greater, especially as a cyber crime is reported every six seconds in Australia. Following a cyber attack, small businesses may also experience a dramatic loss in customer trust, with up to 30% of customers discontinuing their patronage post-incident.
“Cyber crime is not just a financial issue for small businesses – it’s a threat to their reputation, their customer base, and their future growth. The Cyber Wardens program is designed to be an accessible and effective way for small businesses to protect themselves and thrive in a secure digital environment,” Achterstraat stated.
Achterstraat highlighted why there is a critical need for small businesses to act now.
“Cyber Security Awareness Month is a reminder for small businesses to stay vigilant and secure online. Cyber crime is escalating, and small businesses are particularly vulnerable. This month is an opportunity for businesses to learn how to safeguard their digital operations and take proactive steps to protect themselves.”
The Cyber Wardens program, developed specifically for small businesses, provides essential training to help them implement better security measures. Achterstraat noted that four simple actions can make a significant difference in protecting a business from cyber threats: activating multi-factor authentication, applying software updates, avoiding password reuse, and learning how to recognise phishing emails.
“While cyber threats are evolving, these straightforward practices can drastically reduce the risk of an attack. The Cyber Wardens program offers a simple, accessible way for small businesses to train their staff and stay protected,” Achterstraat added.
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