Finder makes money from featured partners, but editorial opinions are our own.

Australian businesses at risk of cyber crime

Man looking at computer screen with los of code

Man looking at computer screen with los of code

Cyber Monday is leaving Aussie businesses vulnerable to hackers.

Cyber Monday is upon us but new research from Allianz Global Assistance (AGA) has found that 56% of small businesses in Australia may be leaving us vulnerable to cyber threats.

This number is surprising considering that cyber crime ranks third behind economic factors and cash flow on the list of key business threats faced by Aussie companies.

While the AGA research found that 20% of businesses said that their businesses were "very well" protected, this number is not high enough as there has been a 300% increase in cyber attacks globally over the last year.

With so many Australians heading online to take advantage of deals for last week's Black Friday sales and today's Cyber Monday sales, businesses without adequate security are leaving us at risk to a range of cyber crimes ranging from data breaches to identity theft.

“It is alarming to see that cyber crime is increasing, yet organisations that regularly review and test IT systems is decreasing – 73% in 2015 to 57% in 2016," said Allianz Global Assistance chief sales officer Brad Smith in a statement.

To help prevent cyber attacks, AGA recommends Australian companies use high-quality anti-virus software.

As a back-up to these services, AGA launched its Cyber Assist, which is a suite of cyber protection services that provide 24/7 support and system recovery for victims.

"If the issue cannot be resolved off site, then one of our mobile technicians will respond in person,” said Allianz Global Assistance cyber protection technician and cyber security expert for Uber geeks, Sean Cunningham.

Speak with a consultant about cyber liability insurance

Find the right business insurance with a qualified consultant

If you are ready to speak with a consultant about different business insurance options available, simply enter your details in the form. Keep reading if you want to learn more about the different types of cover available.
FBI Lender Logos

Picture: Shutterstock

Get more from Finder

Ask an Expert

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and 6. Finder Group Privacy & Cookies Policy.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Go to site