A number of Ai Group members have recently experienced cyber attacks on their business systems.
Manufacturers are particularly at risk, including SMEs, as they become more automated and connected through the internet. Threats can shut down or disrupt operations or put commercially sensitive information at risk.
If the risks of cyber security aren’t immediately clear to the business, they may be to its customers. There’s growing customer expectation and demand that the businesses they work with ensure that their security and systems are up to date, including the way they handle their data.
The threat is real. Local companies have reported recent cases of ransomware, payroll hacking, phishing and IP theft. The breaches expose technical faults, but just as commonly come from human error.
Once a company’s security has been breached, it is very difficult to repair (if at all) the relationship and trust between the business and its customers.
That is why cyber security is now extending beyond the IT manager and moving into the boardroom as a major risk management issue. These threats will change and evolve over time, and increase in frequency and intensity. Businesses pursuing opportunities online will need to stay informed, and take the appropriate responses to manage these risks.
So what can businesses do? Check out some useful tips from our Digital Business Kit, which includes insightful advice in two three-minute video presentations from Cisco’s US and international cybersecurity expert, Melissa Hathaway, and one of Australia’s top cyber security experts from IBM, Don Jokhan.
Does your business have an ongoing strategy to deal with cyber security threats? Or have you learned the hard way that it doesn’t pay to ignore the issue? Please comment below to share your thoughts and experiences and start a conversation.
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