We are already two months past the new year celebrations but talks about an increase in threats in Cyber security in 2023 are ripe!
Experts have warned Australian organisations to take strict measures as the cyber threat scene will continue to rise in 2023!
In this blog, we will discuss the reasons for the continuous increase in the threats to Cyber Security, the various threats organisations need to be aware of, and Anitech’s tips on preventing cyber-attacks.
Factors Responsible for Rise in Threats in Cyber Security
Several factors contribute to the rise of threats in cyber security in Australia, including:
1) Increased reliance on Technology:
As businesses and individuals increasingly rely on Technology to conduct their daily operations and personal activities, the risk of cyber threats and attacks also increases.
2) Greater Connectivity:
The growth of the Internet of Things (IoT) and the increasing connectivity of devices and networks means more potential entry points for cyber attackers to exploit.
3) Increased Awareness:
As employees become more aware of the risks of cyber-attacks and the potential consequences of data breaches, they are more likely to take steps to protect themselves and their businesses.
4) Regulatory Requirements:
The Australian government has implemented various cybersecurity regulations, such as the Notifiable Data Breaches (NDB) scheme, which requires businesses to report certain data breaches to the Office of the Australian Information Commissioner (OAIC) and affected individuals.
Why do Experts say threats in Cyber security will rise in 2023?
Experts predict that the rise of threats in cyber security in Australia will continue in 2023 due to the following reasons:
1) The COVID-19 pandemic has led to increased remote working, creating new challenges for cybersecurity professionals.
2) The growth of cloud-based services and technologies means that businesses increasingly rely on third-party providers to manage their data and systems, creating new security risks.
3) The rise of artificial intelligence (AI) and machine learning (ML) technologies has also increased the sophistication of cyber attacks, which makes it more difficult to detect and prevent them.
4) The continued expansion of the IoT and the increasing use of mobile devices means that there are more potential entry points for cyber attackers to exploit.
Overall, the rise of cybersecurity in Australia is driven by a combination of technological, social, and regulatory factors. Experts predict that this trend will continue in the coming years as the digital landscape continues to evolve.
The cyber security threats that cause serious concern for Australian and global organisations include Malware, Ransomware, Email and SMS Phishing, Social Engineering, Spam Emails, etc.
Tips for Organisations to secure Systems from Cyberattacks
1) Data Backup
Backing up your organisation’s data and website can allow you to restore any information lost during a cyber incident or computer problems. You must periodically back up your most crucial files and information, and Thankfully, backing up is often inexpensive and simple.
To assist in securing the protection of your vital information, it’s a good idea to employ various backup solutions.
A solid backup system will usually include the following:
- daily incremental backups to a portable device and/or cloud storage.
- server backups on weekends.
- quarterly and yearly server backups.
Check and confirm that you can recover your data from your backup on a regular basis.
Develop a practice of regularly backing up your data to an external disc or portable device, such as a USB stick. Keep portable gadgets separately offsite, giving your company a backup plan in case the office is looted or damaged. Do not leave gadgets connected to the computer since they may become infected as a result of a cyber-attack.
Instead, you may back up your data using a cloud storage service. While transporting and storing data, an ideal system will employ encryption and allow multi-factor authentication.
2) Secure Network and Devices
The next important step is to secure networks and devices, be it of the organisation or personal mobile devices of employees, which can become a source of the attack if it is not secured.
Here are some steps you can follow to secure the network and devices of your organisation and the personal devices of your staff:
a) Ensure Software is up to date:
Ensure your operating system and security applications are set to update automatically. Upgrades may provide critical security enhancements for current malware and attacks, and most updates let you schedule them after office hours or at a more convenient time. Since updates resolve significant security problems, it is critical to never disregard update notifications.
b) Install Anti-virus Software
To assist in avoiding infection, install security software on your company’s computers and gadgets. Check if the program has anti-virus, anti-spyware, and anti-spam filters. Malware and viruses can infect your PCs, laptops, and mobile devices.
c) Install a Firewall
A firewall is a software or hardware that acts as a barrier between your computer and the internet. It serves as the primary gateway for all incoming and outgoing traffic. Putting up a firewall will safeguard your company’s internal networks, but they must be patched on a regular basis to function properly. Remember to configure the firewall on all of your mobile business devices.
d) Activate your Spam Filters
Reduce the spam and phishing emails your company gets by using spam filters. Spam and phishing emails can infect your computer with viruses or malware or steal your personal information. The best thing to do if you get spam or phishing emails is to delete them. Using a spam filter can help lessen the likelihood of you or your staff accidentally opening a spam or fraudulent email.
3) Encrypt Confidential Company Information
Ensure your network encryption is enabled and that data is encrypted when stored or sent online. Before sending data over the internet, encryption turns it into a secret code, lowering the possibility of theft, damage, or tampering. While utilising a public network, you may enable network encryption through your router settings or by installing a virtual private network (VPN) solution on your device.
4) Use Multi-factor authentication (MFA)
Multi-factor authentication (MFA) is a security verification technique that needs you to produce two or more proofs of your identification before you can access your account. A system, for example, may need a password plus a code texted to your mobile device before granting access. Multi-factor authentication adds an additional security layer, making it difficult for hackers to get access to your device or online accounts.
5) Utilise Secure Passphrases
Passphrases can replace passwords to secure devices containing sensitive business information. Passphrases are groups of words or passwords that serve as passwords. These are simple to memorise for people but tough for robots to break.
A safe passphrase should be:
- a) lengthy – Aim for at least 14 characters or four or more random words combined together.
- b) complicated – Use capital, lowercase, numerals, and special characters in your pass.
- c) unexpected – While a sentence can make a decent pass, a combination of unconnected words will create a stronger pass.
- d) unique – Use a different password for each of your accounts.
In case you use the same password for everything, and someone discovers it, all of your accounts might be compromised. Try utilising a password manager to securely store and generate passwords for you.
Administrative Powers
To prevent a cybercriminal from getting access to your computer or network, take the following precautions:
- Change all default passwords to difficult-to-guess passwords.
- Accounts having administrator access should be used with caution.
- Accounts with administrator capabilities should have limited access.
- Consider completely blocking administrative access.
Administrator credentials enable someone to perform more difficult or sensitive activities, such as installing applications or establishing new accounts. This will differ greatly from regular or guest user rights, and criminals will frequently seek these rights in order to gain greater access and influence over your firm.
Create a regular user account with a strong password that you may use on a daily basis to reduce this danger. Use administrative accounts only when required, limit who has access, and never read emails or browse the internet while using an administrative account.
6) Keep track of how Computer, Equipment and Systems are used
Keep track of all the computer equipment and software that your company employs. Check that they are secure to prevent unauthorised access.
Tell your staff to be cautious of the following:
- where and how do they keep their electronic gadgets.
- unknown viruses and other risks might be mistakenly transmitted on their devices from home to your workplace via the various external networks connected, such as public Wi-Fi and utilising USB sticks or portable hard drives.
Uninstall any software or equipment you no longer require, taking care not to discard sensitive information. If obsolete and useless software or equipment remains on your corporate network, they are unlikely to be upgraded and may be utilised by criminals to attack your company.
Past workers gaining unauthorised access to systems is a prevalent security risk for firms. Remove access from persons who no longer work for you or who have changed positions and no longer require access.
7) Create and Explain Company’s Cybersecurity Policy
A cyber security policy assists your employees in understanding their obligations and what is appropriate while using or sharing:
- Emails.
- internet sites.
- data.
- computers and gadgets/devices.
8) Train your Employees
Your employees can serve as the first and final line of defence against cyber-attacks. It is critical that your employees understand the hazards they may encounter and their responsibility in keeping your company safe.
Educate them on the following:
- keeping strong passwords and passphrases.
- how to recognise and prevent cyber threats.
- what to do if they come upon a cyber threat.
- How to Report a Cyber Threat.
9) Customer Protection
It is critical that you safeguard your customers’ information. If you lose or compromise their information, you will harm your company’s image and may face legal ramifications.
Be certain that your company:
- invests in and offer a safe online transaction environment.
- preserves any sensitive customer information stored.
Find out what your payment gateway provider can do to avoid online payment fraud if you accept payments online.
Some regulations govern what you may and cannot do with personal information collected from your consumers. Have a clear, up-to-date privacy policy and be aware of the Australian Privacy Principles- external site (APPs). If your company operates online, including your privacy policies on your website is a good idea.
10) Opt for Cyber Security Insurance
Consider purchasing cyber insurance to safeguard your company. Dealing with a cyber-attack may cost far more than fixing databases, enhancing security, or replacing computers. Cyber liability insurance can assist your company in paying the costs of recovering from an attack. Like any insurance policy, your company must understand what it is protected for.
11) Stay updated on the latest Cyber Security Risks
Keep yourself updated on the newest scams and security threats to your company. Join up for the Australian Cyber Security Centre’s (ACSC) Partnership Program – an external site to access the most recent information on cyber security challenges and how to cope with them.
12) Take Cyber Security Advice from Experts
It is always useful to take advice from an expert to promote the safety of your organisations’s systems and networks. You can take help from experienced ISMS consultants like the ones from Anitech. Our experts will help you understand your organisation’s security posture, create a robust security strategy and help implement measures to prevent external cyber threats.
To book an appointment, call us at 1300 802 163 or email info@anitechgroup.com
Our team will be happy to help!
Stay tuned to Anitech website for more blogs.
