Aussie SMEs complacent to cyber risk

Nearly nine in 10 (87%) Australian SMEs believe they are safe from cyber attacks because they have antivirus software installed, research from MYOB indicates.

A survey conducted by the company found that although most SMEs feel adequately protected from cyber threats, only 13% of surveyed businesses had a cybersecurity plan in place.

SMEs face barriers to improving their cybersecurity posture including a lack of sufficient expertise (38%). A third (32%) indicated that they felt they lack a strong online presence making strong security unnecessary, and 28% report a lack of understanding and finding the issue of security too complex to manage.

But around half of SMEs are planning to improve cybersecurity measures in the next 12 months, including by updating software, improving education and changing passwords.

“It’s great to see that small businesses are embracing technologies such as the cloud and taking some measures to protect themselves from cyber attacks; however, there is still more that can be done to reduce online threats,” MYOB Head of Information and Cyber Security Christie Lim said.

“Cloud-based technology is now one of the safest systems businesses can invest in as security is constantly being updated by software providers to ensure information is secure. It’s great to see that nearly three-quarters of SMEs (72%) believe their information is either moderately or completely safe when stored in the cloud.”

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