Cyber crime warning: protect your business

< Date: 07 September 2018

Industry businesses are being warned to take precautions against cyber crime following recent attacks on small and medium enterprises.

Caravan Industry Association of Australia has received a number of reports of malware and other cyber crime affecting industry businesses and warns this is a timely reminder to ensure your business is well protected.  These seem to be targeted around trying to extract information for the purposes of invoice fraud.

CEO Stuart Lamont says this is not only important to limit damage to your business but to meet regulated privacy and data protection obligations to customers.

He advises members to take note of the Australian Government’s guidelines for businesses to against cybercrime.

Click here to access the ‘Stay Smart Online’ guide from the Australian Government.

Click here to subscribe to the email alert service with advice on the latest online threats.

He also warns to take extra vigilance around payment processes to check the validity of bank accounts, particularly where there is a requested change in payment direction.

Nick Kervin, National Leader, Technology and Partner Advisory at BDO, offers these six tips to safeguard your business:

  • Protect Privacy: Ensure everyone with access to your network understands their obligations and how to manage data to protect privacy;
  • Protect Passwords: Change regularly and use two factor authentication or verification for additional protection;
  • Be Aware of Website Authenticity: Look for the padlock symbol in the address bar and https in the address.  Double check the address and look out for added letters, numbers or symbols that shouldn’t be part of the address;
  • Secure your Network and Devices – Keep security software up to date. Control and secure all devices connected to your network (especially mobile devices and tablets). Have an idle timeout lock;
  • Backup Data Regularly – Backup your data and devices regularly in secure off-site locations.  You must ensure that these offsite data storage sites meet Australian Privacy Principles standards however.  Test your backup environment regularly; and
  • Prepare a Data Breach Response Plan – Prepare a plan to get your business up and running quickly if you are attacked.  Prioritise and manage risks.

Anyone wishing to contact Nick can do so on Nick.Kervin@bdo.com.au