Everything, is the answer to that question and if you think you don’t need it, think again. It can be as simple as stealing money from your credit/debit card or even a fuel card.
How you may ask, it’s very simple. Next time you go into pay for your fuel, look up!
See that CCTV camera sitting above the eftpos machine, if that camera has been hacked, then some hacker has just zoomed in on your credit card and now has your name, card number and possibly even your CRN number on the back of your card. Simple.
Tip, always keep the card numbers covered when you tap or swipe.
Cyber attackers have been evolving their business models to create more sophisticated, three-staged attacks.
First, they hack into your system including your back up system, encrypt your data (lock it so you can’t access it) and then they ransom you to hand over money before they will release your data back to you. If the ransom is not paid, they may double the ransom amount or may even auction the data on dark web marketplaces.
It is becoming more apparent that the cyber criminals are now more likely to be an organised crime gang or state sponsored business rather than just some nerdy geek locked away in their bedroom late at night scouring the internet.
And yes, you read it right, many cyber criminals or hackers may be being funded by their own governments.
In fact, in some countries “cyber fraud” is viewed as a legitimate business. These businesses may have hundreds, if not thousands of employees whom turn up each day for work and their job is simply to search the internet for their next random target, work out how to evade detection and bypass security systems.
Don’t know about you, but to this author it is frightening to know that in other countries this is not only legal, it seems to be encourage! The frightening thing is, how the hell can we defend ourselves against a cyber-attack when other countries see it as a business, not as a crime.
There are some ways we can strengthen our vulnerability, however, sadly many small to medium businesses are often the victims to cyber scams because their low budgets mean they don’t spend sufficient funds on internet (cyber) security, as are the larger businesses that do not invest enough in the right internet security and risk management.
We would encourage anyone that uses the internet, whether that be for business use or private use to consider what internet security they have and then speak with their insurance broker about a Cyber Insurance policy and get some helpful tips on how you can reduce your risk of a cyber-attack.
Brisbane Truck Show
For those of you whom will be heading to the Brisbane Truck Show from May 13-16, and would like to catch up with us, have a chat, or ask some questions, we will be floating around the National Road Freighters Association stand on the lower forecourt (Foyer 032) and the Big Rigs newspaper stand (Plaza 238) between 10am to 2pm on the Friday and Saturday.
Would be great to get some honest feedback on our little column, good or bad, doesn’t matter, as long as what we are doing is helping you win some arguments and helping sort out some of the rubbish you hear from your ol’ expert mates on the grapevine.
Important: All answers and information contained within this article should be considered as General Advice Only. This advice should only be considered as General in Nature and its intent is only to prompt the readers to investigate their own individual insurances. It has been prepared without taking into account the readers own individual objectives, financial situation or needs. Because of that, before acting on the above advice, the client or any persons should consider its appropriateness (having regard to their objectives, needs and financial situation) and seek further independent advice from their own financial advisor.