Cyber Awareness Month: Building a culture of cyber safety in your business

In today’s digital age, cybersecurity is not just an IT issue; it’s a business imperative. With data breaches on the rise and cyber threats becoming more sophisticated, the need for robust cybersecurity measures has never been more urgent – cyber threats can lead to significant financial losses, damage to reputation, and legal repercussions. For businesses, the impact of a cyber-attack can be devastating.

As digital threats rapidly evolve, Cyber Awareness Month, held in October each year, serves as a crucial reminder of the importance of cybersecurity. Established in 2004, this month-long campaign aims to raise awareness about the ever-evolving cyber threats and the steps individuals and organisations can take to protect themselves.

For businesses in Australia, this is an opportune time to evaluate and strengthen cybersecurity measures.

Understanding the risks

Businesses face a myriad of cybersecurity challenges, such as phishing, ransomware attacks, and data breaches, all of which can lead to severe consequences. By understanding how these attacks work, business can help improve their systems and processes to protect against attacks and help train their people to ensure a strong first line of defence.

Phishing

Phishing is a form of social engineering where attackers deceive individuals into revealing sensitive information, such as login credentials or financial details. These attacks often come in the form of fraudulent emails or SMS text messages that appear to be from trusted sources.

Ransomware attacks

Ransomware is a type of malware that encrypts a victim’s data, rendering it inaccessible until a ransom is paid. These attacks can be devastating for businesses, leading to significant financial losses and operational disruptions.

Data breaches

A data breach occurs when unauthorised individuals gain access to sensitive information. This may happen as a result of phishing or ransomware attack and can result in significant financial and reputational damage.

Identify and report ATO impersonation scams

The ATO is reminding everyone to be cautious as scammers become increasingly sophisticated. Since the start of 2024, most scams—about 80 percent—reported to the ATO have been through emails. So, it’s crucial to know the best ways to protect yourself from being scammed:

The ATO no longer includes any hyperlinks in their correspondence. Never click on any links in emails or SMS messages that ask you to log into a government service, such as your myGov account. If you receive a message from the ATO that includes a link, whether via email or SMS text message, it is a scam
The ATO will never ask you to provide personal information via email, SMS or over the phone. If you’re ever unsure, hang up the phone or ignore the message and contact the ATO directly using their direct phone number
If an email looks suspicious, don’t click on any attachments. Reach out to the ATO directly
Keep an eye on your bank accounts and report any unusual transactions.

If you think a phone call, SMS, voicemail, email or interaction on social media claiming to be from the ATO is not genuine, do not engage with it. Contact the ATO on 1800 008 540, or go to the ATO website to verify or report a scam.

Protect your business against cyber threats

Creating a culture of cyber safety within your business is essential for long-term security. There are many simple actions you can take now to foster a cyber-savvy culture in your business.

Recognise Phishing Attempts: Be wary of unsolicited emails or messages that ask for personal information or contain suspicious links
- Notice red flags: Look for signs such as poor grammar, urgent language, and unfamiliar sender addresses
- Verify the sender: Cyber criminals can ‘spoof’ email addresses, phone numbers, or business names. For emails, always check the sender’s email address for inconsistencies or unfamiliar domains. If you’ve received a phone call, hang up and call a business directly if you’re asked to provide sensitive information
- Hover over links: Before clicking on any link, hover over it to see the actual URL. Be cautious of URLs that look suspicious or unfamiliar, and always err on the side of caution if you are unsure
- Be sceptical of urgent requests: Phishing emails often create a sense of urgency. If an email asks for immediate action, take a moment to verify its authenticity
- Educate employees: Regular training on how to recognise phishing attempts and ransomware attacks can significantly reduce the risk of falling victim to these attacks
Implement strong password policies: Encourage employees to use long, unique passwords and consider using a password manager to store them securely. Regularly update passwords and avoid using the same password across multiple accounts
Use multi-factor authentication (MFA): Adding an extra layer of security by requiring multiple forms of verification before granting access can significantly reduce the risk of unauthorised access
Regularly update and patch systems: Ensure that all software and systems are kept up to date with the latest security patches. This helps protect against known vulnerabilities that cybercriminals could exploit
Conduct regular security audits: Perform regular security audits and penetration testing to identify and address vulnerabilities. This proactive approach helps ensure that your security measures are effective and up to date
Develop a robust incident response plan: Having a well-defined incident response plan ensures that your business can quickly and effectively respond to any cyber incidents. This includes steps for containment, eradication, recovery, and communication.

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