Cybercrime is On the Rise – Your Business is at Risk!

If you have seen stories regarding cybercrime in the news and thought that you and your business don’t fall under the category of companies attacked by these criminals, it might be time to think again. Anybody can become a target of cybercrime – including small businesses, sole traders, professional firms and big business, in fact, according to independent surveys, all businesses are in danger of being targeted.

Steady Increase

Cybercrime is steadily on the rise and will continue to do so, with recent exploits of operational, embossed and consumer systems in 2015 being significantly increased by 152% over the following year. Another report, carried out by KPMG, revealed quite frightening statistics, only half of all CEO’s of companies on a global scale are fully prepared for potential future cyber-security breaches and attacks, with American CEOs coming in at just 35%. With the report considering cybercrime to be one of the biggest threats to both Australian and global businesses, these statistics go to show how underprepared and uninformed many company leaders are when it comes to protecting themselves.

Taking Steps Forward

With crime rates for cybercrime showing no sign of slowing down in the near future, it is vital that company leaders act now to ensure that they are not putting themselves at risk and do not become the next example of a breach of data and information. This is especially important for B2C businesses; breaches of cyber security could potentially risk exposure of thousands of customers’ personal and sensitive information, putting individuals within society at risk.

What Motivates Cybercrime?

According to research, cyber criminals are more often than not financially motivated. One of the most common types of cyber attack seen today is that of ransomware, a malicious malware which infects a user’s computer and restricts access to information until a ransom is paid. This malware can infect your computer by something as simple as an email, which is why it is crucial that all businesses understand the warning signs of suspicious emails and how to deal with them correctly.

How to reduce risk

Keep your software up-to-date

Cyber criminals are clever, constantly finding new ways to get around computer security systems, firewalls and even the most sophisticated of anti-virus software. Because of this, working to reduce your risk of cybercrime is largely about making sure that you stay constantly updated when it comes to computer security, as outdated software and security systems put you in a very vulnerable position.

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