Today, let us delve into the world of cyber attacks on WordPress, a realm where staying vigilant and prepared is crucial. As we explore how to prevent cyber attacks, keep in mind that safeguarding your business and the personal data it holds remains your top priority.
Cyber attacks have transcended into the virtual world, and the underlying repercussions are anything but virtual with little-to-no bestowed consequences towards the perpetrators. One of the many reasons that these things happen is because they are trying to deplete your resources, disrupt business operations, and abolish hard-earned trust from your clients. The gravity of this issue cannot be overstated. It’s about securing your livelihood and providing food for your loved ones.
Australia's Cybersecurity Landscape: Mapping the Current Threats
According to ACSC’s annual cyber threat report from July 2021 to June 2022. In a time defined by digitalization, cybersecurity models are undergoing a massive seismic shift, as shown by the concerning statistics and trends that have come to characterize recent times.
In Australia alone, a stark illustration of this shift is the staggering surge in financial losses due to Business Email Compromise(BEC), which has now exceeded 98 million, each report costing an average of $64, 000. The financial toll deepens even further with an average cost increase of 14%, reaching $39, 000 for small businesses, $88, 000 for medium-sized ones, and over $62, 000 for large enterprises fighting cybercrimes. And that is just one aspect from over 76, 000 reports averaging at one report every 7 minutes, compared to one report every 8 minutes last year.
Defending Against Escalating Cyber Threats
Given the recent increase in cyber attacks and threats,now is a crucial time to closely monitor your business operations. Take it as if it’s a thorough health check for your digital environment, treating it as if it’s your own well-being.
Try to ask yourself, “Why is this caution so important?” Consider your entity susceptible to breaches, attacks, and takeovers, amongst other things. Being the leader of your domain, it’s essential to go all out to defend it. How? You can start by understanding potential threats which may then lead you to anticipate and more importantly, prevent them. Minimizing vulnerability is of utmost importance, right?
Protecting Your Finances and Future
Business email compromise(BEC) is a formidable adversary as well, accounting for nearly 7% of all reported cybercrime incidents in Australia during the 2020-21 period. This form of attack can cause substantial financial losses, heavy disruption in your operations, which might lead your company to its demise. And the worst part? You don’t even know it’s happening until you’ve lost so much.
So, let’s try to put things into perspective, the average self-reported loss from cybercrime for small businesses was around $8,899 in the past year. These financial setbacks can be debilitating, highlighting the pressing need for proactive defense.
In this form of business, everybody is vulnerable to such an extent that it might ruin everything they worked so hard for.
New Cyber Guidelines You Can't Miss
Cybersecurity Australia, requires you to be more vigilant and assured that you are protected from cyber security threats.
Listed below are some of the standard operating procedures from AX Digital that we automatically set in place:
Password Power
Enforce a regimen of password changes every three months. This simple practice acts as a revolving door that thwarts potential attackers.
Priority Updates
Make consistent software updates a cornerstone of your strategy. These updates serve as essential reinforcements against potential vulnerabilities.
SSL
Security Signature: Incorporate SSL certificates to create secure connections with your clientele. This signals your commitment to their safety.
Backup
Regularly backing up your devices is essential to safeguard your data from potential disasters, cyberattacks, and accident deletions. Ensuring your important files and settings are stored securely.
This is What We are Introducing as the Next Minimum Standards:
Multi-Layered Security (MFA)
Elevate your security stance with multi-factor authentication (MFA). This adds extra layers of safeguarding to your digital assets.
Access Control
Exercise strict access control, permitting only authorized personnel to access sensitive business data.
Firewall Vigilance
Employ a firewall as a gatekeeper, scrutinizing incoming data requests to allow only legitimate traffic.
Malware Watch
Deploy malware scanners for preemptive threat detection and neutralization.
Email Guardianship
Bolster email security to fend off phishing attempts and protect vital communications.
Empowering Your Team and Safeguarding Your Business
If you would like to find out more, we can educate you and your team on cyber safety – equipping them to identify and counter potential threats. Australia cybersecurity strategies are set in place in order for you to add different layers of protection for your online presence.
Password Manager
In addition to adding security with regards to your passwords, it’s a great security measure to install a password manager that requires you to authenticate before using saved passwords. Don’t store passwords in browsers that don’t require you to authenticate yourself. For example, Mac will ask its user to authenticate via fingerprint ID before using stored passwords.
Two-Factor Authentication
Two-factor authentication is crucial, supplementing security beyond passwords with an added verification layer like mobile-generated codes, strengthening protection against unauthorized access. Avoid using SMS codes, more preferably TOTP(Time-Based One-Time Passwords).
Secure Email Provider
If the Multi-Factor Authentication(MFA) codes are directly linked to your email address and you’re using a Bigpond address(for instance) that Telstra no longer supports, hackers might be able to access them with ease. We always recommend making use of dynamic MFA code using reliable authenticators. (Microsoft Authenticator, Google Authenticator, Okta, and many more).
What Do You Do from Here On?
As small businesses continue to integrate technology in their operations, the risk of cyber-attacks becomes an unavoidable reality. However, this doesn’t mean that business owners are helpless against these types of threats. By learning what you need to know, even knowing enough, could protect you from different M.O.s and scams. Always remember to safeguard your digital frontier. For in the wrong hands, it could mean the demise of your business.
AX Digital is not a cyber security company, however we can help you set up a managed detection and response package if you get in touch with us. What this includes is automated data backups to create a secure haven that ensures rapid recovery in the event of an attack.
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