Published on 17/05/2017 by Punchmedia

Small Business and Cyber Security

The global ransomware attack this week has exposed fears Australian small business is most vulnerable to online scams and hacking, with the Turnbull government and key lobby groups urging owners to beef up their cyber security. While Australian businesses seemed to largely avoid the chaos, both the government and experts have warned small business lacks the resources and knowledge to ward off cyber crooks. According to experts crooks attempted to hijack hundreds of computer systems and data every couple of weeks but the scale of the problem may be under-reported.

Small business is often the target of scammers, especially those businesses who operate mostly online - check out our guide below to avoiding becoming a victim.

Targeting small business online

Running an online small business can come with its share of risks - using the internet can open your business up to being targeted by scammers from anywhere in the world. Learn to recognise common online scams to avoid getting caught out. These can include:
  • taxation scams - scammers can disguise themselves as government agencies, such as the Australian Taxation Office (ATO), to trick you into revealing details such as your tax file number (TFN) over the internet.
  • online transaction scams - including auction or shopping scams, spam offers, online banking or credit card scams, or spyware
  • internet domain name scams.

Internet domain name scams

These scams target businesses with websites by promising to renew or secure their domain name (or web address) before another business claims it. Business owners could be sent a legitimate-looking email or invoice with payment details for this service. Under this scam you'll be sent either an unsolicited invoice or email for an internet domain name registration usually very similar to your own business domain name, or you'll be sent a renewal notice for your actual domain name. The notice could be from a business that supplies domain names trying to trick you into signing up to their service or it could be from a scammer trying to take your money.

How to protect your business from internet scams

The ATO's tips for recognising and avoiding tax-related scams and fraud include:
  • report emails that offer tax refunds in exchange for entering personal information
  • report emails which inform you that you owe the ATO money or your account is in arrears and you will be taken to court
  • always use ATO's online services by visiting the ATO website
  • make sure you keep your tax file number (TFN) and passwords secure.

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punchmedia

Curtis is a leading expert in the business-for-sale industry, serving as a senior content creator at anybusiness.com.au.

With a career spanning over fifteen years, Curtis has accumulated extensive knowledge in the domain of business sales, acquisitions, and valuations. His deep understanding of market dynamics and his ability to translate complex industry jargon into accessible insights make him a trusted resource for entrepreneurs and business owners looking to buy or sell businesses.

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