Protecting your business from cybersecurity threats

The Holistic Accountant

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In this episode, Stuart and Mena tackle the crucial topic of protecting your business from cybersecurity threats. With 59% of losses reported to the ACCC's Scamwatch in 2022 affecting small and micro businesses, they delve into common cybersecurity threats like ransomware, malicious software, phishing, and business email compromise. They highlight essential cybersecurity practices, such as regularly updating software, using strong passwords with multi-factor authentication, and backing up critical data.
Stuart and Mena offer practical steps for implementation, including setting up automatic updates, using password managers, maintaining a regular backup schedule, and developing basic cybersecurity training for employees. They also discuss additional protection measures, such as getting an IT professional to review your risks and considering cyber liability insurance.
The episode emphasises the importance of creating a cybersecurity policy and an incident response plan, outlining key elements and the necessity of being prepared for cyber incidents. They recommend resources and support, such as the Australian Cyber Security Hotline, the Digital Solutions - Australian Small Business Advisory Services program, and signing up for ACSC alerts and the Partnership Program.
Tune in to learn how to safeguard your business against ever-evolving cyber threats and ensure your cybersecurity measures are robust and up-to-date.

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IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.