Cyber Security Update: Protect Your Data
The recent cyber-attacks on Optus and Medibank Private have shone a spotlight on the risks of our online personal data and financial information being exposed, leaving many customers concerned about their risk.

Protect your business
The Medibank breach has affected some 4 million customers. Shockingly, Medibank does not have cyber insurance cover, meaning that the cost to the business may be as much as $25 to $35 million. These days, every business, whatever size, needs to think about cyber-crime protection.Having cyber protection insurance is a critical cover to protect you against threats such as cyber extortion, business interruption losses, electronic data replacement, reputational damage, and more.

Find out more about ourcyber protection insurance.

Protect your passwords
If you always use the same password, if it becomes compromised you are at risk. The best protection is using a range of different, strong passwords and changing them regularly. Using a Password Manager can help you securely store and track all of your passwords.

Set up multi-factor authentication
You may have noticed that more businesses are requiring multi-factor authentication when completing a customer service transaction (e.g. the use of one-time passwords). Always use this when it’s an option as it makes hacking your account much harder, if not impossible, for cyber-criminals.

Be wary of unsolicited emails, calls or texts
Scammers have gotten increasingly sophisticated at imitating legitimate businesses, such as banks, so it’s wise to think twice before you click, let alone provide any personal information. It’s always better to go directly to the website or call the company on a trusted number.

Be careful what you share
Social media can provide potential scammers with a lot of personal information about you that they can use to hack your accounts or steal your personal identity online. Never share information like your birthday or phone number and consider making all of your social accounts private.

Keep your software up-to-date
Software updates can include critical security patches, so it pays to keep up-to-date. This includes making sure you have anti-virus protection installed and updated.

Help vulnerable family, friends and neighbours
Cyber-criminals target the most vulnerable, which can include older people who are less tech-savvy. It’s a great idea to help these people in your life set up better cyber-security measures and remind them about being careful about emails and unsolicited phone calls.

Report it and get help
If you do find yourself the victim of cyber-crime, the Australian Cyber Security Centre (ACSC) has information here on how to report a crime, common threats, and how to get help.

Have you got questions about your cyber insurance? Callus anytime on (02) 8268 2900 for an obligation-free chat.

Disclaimer: The information contained in this article is general in nature and does not take into account your personal objectives, financial situation or needs. Please consider whether the information is appropriate to your circumstance before acting on it and, where appropriate, seek professional advice.