This Cyber Security Awareness month, simple advice keeps small businesses safe online

Friday marks the end of Cyber Week at Commonwealth Bank (24 to 28 October), an opportunity to help our customers boost their cyber security. It comes at the close of the nationally recognised Cyber Security Awareness Month, when all Australians are reminded to stay safe online.

“Cyber security is a year-round priority at Commonwealth Bank, and ongoing events highlight the importance of getting cyber basics right — things like creating strong passwords, keeping devices and apps up to date, and understanding how and where data is stored,” said Commonwealth Bank’s Chief Information Security Officer Keith Howard.

A focus of Cyber Week in 2022 is the Small Business Cyber Security Guide, a free new resource created by the Australian Cyber Security Centre (ACSC) that helps businesses prepare for and act against online threats.

“It's important that across industry and government we continue to work together to de-mystify cyber. That’s why we’re pleased to provide a simple cyber security guide with easy-to-follow advice that will help small businesses improve their cyber defences,” said Mr Howard.

The guide is designed to help businesses implement simple measures to prevent common online security incidents, with an overarching message that getting online security up to standard isn’t prohibitively expensive or time-consuming  — rather, protection comes from good habits and education.

“A cybercrime incident is reported to the ACSC every 8 minutes. We see the impact of cyber security incidents each and every day, on individuals, small businesses and large companies,” said Dr Derek Bopping, First Assistant Director-General Cyber Engagement and Strategy at the Australian Cyber Security Centre. “We are pleased to work with the Commonwealth Bank and hope this guide is well used by their nearly 1 million small business customers this Cyber Week and all year round.”

Some of the key advice in the guide includes:

Multi-factor authentication (MFA)

One of the simplest and most effective ways to protect against unauthorised access, MFA is a security measure that requires two or more proofs of identity. For example, in addition to providing a password, a user must also use an authenticator app, and/or a fingerprint. MFA makes it much harder for criminals to attack a business, because even if they manage to steal one proof of identity (such as a password), they still need to obtain other proofs to gain access.

Keeping tech updated

The guide provides an overview of how to audit hardware and software to make sure everything is up to date. Things like automatic updates can help a business maintain its defences, but backing up data is equally important if something goes wrong.

Training your team

The people in a business can be the best defence or weakest link against online threats. The guide itself is a great educational tool for business owners and their teams, but additional regular training can also help everyone feel confident in their role in keeping the business safe. CommBank’s free webinars on staying safe online can help business owners get started.

To download the guide and find out more about scam and cyber security protection for your business, visit: commbank.com.au/business-security