Aussie businesses warned over impending cyber threats

Theft of customer data and significant financial losses from cyber fraud could impact many Australian businesses in the lead-up to Christmas if they don’t review their cybersecurity measures, according to a leading expert in payments technology.

Mark Healy, Managing Director of Ezidebit and eWAY Australia and New Zealand, said that small businesses are particularly vulnerable at this time of year as hackers look to take advantage of busy business owners during a period of increased cash flow and new customer data.

“In the lead-up to Christmas and the holiday season, many industries experience a significant boom in their business. In an incredibly busy time of year, cybersecurity can often become an afterthought in all the rush and excitement,” Mr Healy said.

“The opportunity for fraudulent activity and theft of information including customer card data is growing and must be taken seriously. Luckily there are some basic precautions you can take to protect your data and assets.”

The Australian Cyber Security Centre has recently warned thousands of Australian businesses that use Windows 7 and earlier versions of Windows Server to immediately install a patch, in order to avoid having their data compromised by the BlueKeep vulnerability affecting older versions of the operating system.

The Australian Cyber Security Centre has estimated that up to 50,000 Australian devices relying on the older Microsoft systems could be affected by this vulnerability.

The BlueKeep vulnerability attacks an operating system’s Remote Desktop Protocol, which connects to another computer over a network connection. It could cause a ‘wormable’ cybersecurity outbreak to spread from one vulnerable computer to another computer very quickly.

Mr Healy said that it was vital for all businesses, regardless of size, to be aware of their obligations to safeguard sensitive information and critical data, including customer credit card details.

“There are a number of steps businesses can take right now, from checking their software systems and anti-virus programs are continually updated, to making sure passwords are regularly changed.

“Educating staff and owners about cybersecurity threats should be a priority for every Australian business, and you should ensure that your data is backed-up regularly.

“The repercussions of not paying attention to cybersecurity are too big to be ignored, and it doesn’t just happen to big businesses – most attacks don’t discriminate about the size of the business. In our increasingly digital society it’s just as important to pay attention to protecting your data as it is to install physical security measures for your business.

“One in ten Australian businesses experienced a data breach in the last financial year, according to the Australian Bureau of Statistics. Chillingly, almost 20% of the businesses affected didn’t even know they had suffered an incident.”

Ezidebit and eWAY have introduced their Merchant Trust Initiative (MTI) which is a supportive hands-on program that helps business owners understand their card security obligations and takes them through a step-by-step program equipping them with the tools and resources to improve cybersecurity practice within their business.