Why do tradies need to be thinking about cybersecurity?
Cybercriminals are targeting small to medium-sized trades businesses; here’s what you need to know to keep your business safe.
So, you’ve got the online business tools to keep your trade business earning but lack the tools to keep it safe? Well, you’re not alone. Most tradies are well-insured for physical burglaries; thieves and opportunists have been targeting tradie vans and sites for years. Yet, many tradies have let cybersecurity and cyber liability cover fall short and as a result, cybercriminals are frequently targeting trades businesses who are not prepared for the attacks.
The thing is, tradies aren’t alone. Cybercriminals will attack any business that has a weak and unprotected virtual presence. In fact, cyber-attacks are increasing among Australian businesses, with cybercrime costing the Australian economy over $1 billion a year.
So, what can you do? Your best line of defence is your offence! Which, contrary to popular belief, the tools you need to keep yourself safe don’t need to cost your business an arm and a leg. To be safe online you need to understand and be vigilant for attacks and ensure everyone working in your business follows good cyber protocol – it’s not as complicated as it sounds! In our free guide, ‘Going to war with cybersecurity’, we’ve outlined best-practice cybersecurity measures that you can start implementing immediately.
What is cybercrime?
Cybercrime is a crime that involves a computer and a network. The computer may have been used in the commission of a crime, or it may be the target. Cybercrime may threaten a person, company or a nation’s security and financial health.
Who are cybercriminals?
Hollywood has made us all think cyberattacks are run by huge criminal organisations who target large multinationals – and while occasionally true – most of the time it’s tech-savvy, young opportunists out to see what they can do with the coding skills they have. Studies show that 61% of cybercriminals begin before the age of 16 and the average age of suspect arrests is 17-years old.
What does this mean for your trades business?
Well, in some cases hackers are just kids messing around and in others, they’ve been hired by larger criminal organisations for more serious, targeted assaults. This is important to note as the reason for an attack often frames its execution.
Online piracy, malware and scamming, fraud, and extortion are all types of cybercrime. The key types of cybercrime that tradies need to look out for are scamming, fraud and extortion as these can be detrimental to business operations. Common cyberattacks of this type look like:
- Phishing attacks
- Business email compromise (BEC)
- Ransomware
In our eBook, ‘Going to war with cybersecurity: A guide for tradies to protect their business in a digital world‘ we discuss what each of these attacks are in greater detail. But to summarise, if something looks too good to be true or appears threatening in nature – you need to proceed with caution!
What’s at stake for your business?
A cyber attack can cause major damages to your business including, but not limited to, financial losses, reputation damage, and legal consequences.
The price of cybercrime in Australia is extremely costly to businesses, with 40% of cybercrime costing businesses from $1000 up to $5000. The Government recommends businesses have a cybersecurity policy in place to minimise the chances of online attacks, reports comparethemarket.com.au.
For more information and advice on what to watch out for and how to keep your trades business safe from cyberattacks, please reach out to the TradiePad team. We’re on a mission to help tradies get the most from their modern business tools while staying safe in the process.
