Protect Your Small Business from Cybercrime Before It’s Too Late

Cybercrime is a growing threat to small businesses in New Zealand, and it’s time to take action. Just because your business is small doesn’t mean it’s immune to cyberattacks. In fact, small businesses are often targeted because they may have less robust security measures in place. The consequences of a cyber attack can be devastating, resulting in financial losses, reputational damage, and the loss of sensitive information.

Recent examples of cybercrime affecting small businesses in New Zealand include the 2017 ransomware attack on a Northland cafe, which resulted in the loss of $18,000 in just one week of business. In another incident, a Tauranga small business had to pay a ransom of $10,000 to retrieve its encrypted data. And these are just a few examples; the number of cyber attacks against small businesses is on the rise, and the damage they cause is increasing.

Cybercriminals are using a variety of methods to attack small businesses, including phishing scams, malware, and ransomware. Phishing scams trick employees into revealing sensitive information or downloading malicious software. Malware can steal sensitive information or take control of a computer, while ransomware can lock a business out of its own data, forcing it to pay a ransom to regain access.

The financial consequences of a cyber attack can be substantial, with the average cost of a cyber attack on a small business estimated at around $50,000. And this is just the direct cost. Indirect costs, such as loss of customers, can be even more significant. In addition, the reputational damage of a cyber attack can be difficult to recover from.

The good news is that there are steps small businesses can take to protect themselves from cybercrime. These include:

1. Employee education: Ensure that all employees are trained to recognize and respond to phishing scams and other cyber threats.
2. Strong passwords: Use strong passwords and change them regularly.
3. Firewall: Install a firewall to protect your network and sensitive information.
4. Antivirus software: Use antivirus software to detect and remove malicious software.
5. Regular backups: Regularly back up your data to protect against data loss in the event of a cyber attack.
6. Cybersecurity insurance: Consider purchasing cybersecurity insurance to protect against financial losses in the event of a cyber attack.

Don’t wait until it’s too late to protect your small business from cybercrime. Take action now to protect your business, your customers, and your sensitive information. If you need more information or assistance, contact us today. We can help you implement the necessary security measures to protect your business from cyber threats.