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As of last week there has been a monumental cyber attack on small to large businesses around the world. The cyber crime attacks unleashed ransomware software – figuratively holding confidential information of users up for ransom until a payment to release the data was made. The data breach malware known as “Wannacry” targeted Microsoft computers running the Windows operating system.

In this attack, many SME’s were targeted and helpless. Companies ranging from 100 staff to 30,000 staff have been violated with the software. The Chief executive of Australian-Listed data recovery provider Dropsuite, Charif El-Ansari – stated that “It’s not a matter of if, but when ransomware will impact your business”, expressing the point that all Australian companies are at risk of suffering from cyber crime and should get protected as soon as possible.

If you’re a SME owner, then ask yourself these questions…

  1. Do you have a online security? An easy and effective way to protect yourself from attacks is to install antivirus and anti-malware software. When these programs are fully utilized and up to date, they act as a strong guard against potential threats.
  2. Is your operating software (Microsoft Windows) fully up to date? Make sure you install all patches and updates in order to maximise any holes in the system that may make your vulnerable to malware.
  3. Are you using a spam filter? Many virus come in the form of a malicious email. Think twice before opening a random email from an unknown sender or an email with a suspicious subject line. In most cases these are full of computer viruses.

There have been reports that a second wave of attacks may be on its way. All companies, big and small need to be prepared with appropriate cyber security as well as cyber insurance. The risk of hackers and cyber attacks in a prevalent issues which is become more and more common.

The final question you should ask is: Is my business ensured against cybercrime? Emjay Insurance Brokers understand the risk cyber crime imposes on SME business. If you are not already insured it means you aren’t prepared. Contact us today on (02) 9796 0400.

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