National Australia Bank has partnered with Microsoft to launch a free cyber assessment tool designed to assist Australian small businesses in preparing for and recovering from cyber attacks.
The online self-assessment takes less than two hours to complete and consists of a series of questions about the organization’s security, data, and IT environment. The responses are analyzed to provide participants with tailored, fact-based advice on enhancing their cybersecurity measures.
Research by NAB’s Consumer and Business Insights indicates that small and medium-sized enterprises (SMEs) are among the least prepared for cyber threats, with only 15% engaging in comprehensive training on scams and cybersecurity risks.
NAB chief security officer Sandro Bucchianeri notes that the frequency of cyber attacks on small businesses is escalating yearly. Last financial year, cyber crimes were reported every six minutes, costing SMEs an average of $71,600, according to the latest data from the Australian Signals Directorate, which also revealed a 23% surge in incidents.
Bucchianeri emphasizes the need for SMEs to remain vigilant, as cybercriminals are continuously evolving their tactics, with phishing scams and ransomware being among the most significant threats. “Recently, we have witnessed an uptick in cybercriminal tactics targeting prominent Australian businesses almost daily, affecting various sectors, including healthcare and legal,” he explains. “Tools like this will empower the small business sector to respond effectively if they face a cyber incident.”