All businesses share a common goal, to remain in operation and provide the best service possible. From a Fortune 500 company, to a local restaurant, or a self-employed entrepreneur all companies also face the same challenge, cybersecurity. So, is your business a target for hackers?
In the past, large companies have been popular targets and small business owners tend to ignore cyber security assuming their company isn’t valuable or large enough to be a target. Unfortunately, that’s not the case and small to medium size businesses have actually become a more desired target. Whether they know it or not, many small businesses are “easy marks.” Large companies tend to spend more money to protect themselves. Small businesses typically don’t have security budgets and spend little to nothing to defend themselves. Hackers know this and many have turned their attention to these easier targets.
Because of this, thousands of business owners are unprepared. Plus, many do not know about the cyber security regime in Australia that can fine your business up to $10 million if you fail to report data breaches.
The amendments to the Privacy Act will: Increase penalties for all entities covered by the Act, which includes social media and online platforms operating in Australia, from the current maximum penalty of $2.1 million for serious or repeated breaches to $10 million or three times the value of any benefit obtained through the misuse of information or 10 per cent of a company’s annual domestic turnover – whichever is the greater.
So, all Australian businesses need to have an action plan in place to protect against hackers and to handle the Privacy Act compliances. If you fail to meet the obligations it can be costly.
Luckily, we have an inexpensive and easy solution for you and your employees. XSurflog is a browser protection and monitoring extension. It’s easy to download and apply to all of your business’s computers, perfect for work from home employees. You will be able to monitor the websites employees go to for regulatory, compliance and security reasons. Enabling you to improve a Security Investigation, Detection Capabilities, increase Data Leakage Prevention. Plus, it makes it very easy to report any phishing websites.