Canberra small business warned against cybercriminals

Posted on 3 October, 2019

Women turning bright ideas into thriving small businesses are urged to take greater steps to protect themselves against cybercriminals.

Small businesses across Australia are disproportionately targeted by cybercriminals and the financial costs can be enormous.

To help small business owners grapple with the threat cybercrime poses to their livelihood, NAB will convene a summit on the issue at Parliament House this month and Canberra businesswomen are invited to attend this important event.

Almost half (43 per cent) of all cybercrime is targeted at small business, which often lacks the resources, know-how and infrastructure available to large companies to ward off cyber attacks.

In 2017, $2.3 billion was stolen by cybercriminals from Australian consumers, and cybercrime is costing the Australian economy up to $1 billion annually in direct costs alone.

Despite the very real threat, start-ups and small businesses across the country are too often falling into the trap of being complacent.

Over a third of Australian small businesses are failing to proactively protect themselves against cybercrime, while 87 per cent incorrectly believe their anti-virus software will completely protect them, according to the Australian Small Business and Family Enterprise Ombudsman.

Treasurer Josh Frydenberg and Shadow Treasurer Dr Jim Chalmers will join NAB’s Chief Security Officer David Fairman at the NAB National Small Business Cyber Security Summit, which will be held on Monday 14 October between 9-11 am at Parliament House.

The summit will also hear from Rachel Noble, the Head of the Australian Cyber Security Centre, Michelle Price, the Chief Executive of Austcyber, and Kate Carnell, the Australian Small Business and Family Enterprise Ombudsman.

the essentials 

What: NAB National Small Business Cyber Security Summit
When: Monday 14 October from 9 – 11 am
Where: Parliament House
More information and registration: Here