How to avoid cybercrime

NSW Fair Trading Advice on how to avoid Cybercrime

NSW Fair Trading is warning people about the recent increase in cybercrime and offering advice on how to avoid becoming a victim.

Social engineering offences have been on the rise. This is where someone impersonates one of your clients and asks you to alter their bank details. Once the change is made, you unknowingly transfer funds into the hacker’s account.

You might think you’re covered by professional indemnity insurance, but experts say some standard policies don’t cover IT costs, cyber extortion, forensic IT costs and social engineering losses.

What you can do

Although adequate insurance can protect you against this type of crime, NSW Fair Trading suggest you also do the following:
• If you receive correspondence asking you to change bank details make sure you confirm the email address you have on file against any instruction you may receive. Often it’s only one digit, letter or symbol that’s different.
• Contact your landlord or vendor verbally to confirm the instruction came from them and they are seeking this change.
• Ask them to confirm the conversation with you in writing.
• Alert your staff and have a training session dedicated to the subject of cybercrime so that it’s on their radar.
• Have a chat to your insurance broker to determine whether your current insurance policy is adequate.

Don’t wait until it’s too late – click here to obtain a Cyber Insurance quote online in a matter of minutes.

A Cyber Insurance package will typically help cover costs associated with lost revenue, legal costs and liabilities from the lost data. It may also help with costs associated with protection and rebuilding your company’s reputation.

If you have any further questions on how CRM Brokers can protect your online business, contact Vikram Choudhry on 1300 880 494.

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