Are you more aware of your cyber security? October was Cyber Security Awareness month.
Zurich Updates
| Article
| 04 Nov 2020
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Cyber security breaches cost Australian businesses $1 billion each year – and that’s just the direct costs. Cyber-attacks can also result in significant reputational damage.
Since COVID-19 began, cyber-attacks are on the increase. That’s because cyber criminals are aware that more people are working from home, and on private networks which can often be less secure than at work. Also, people are understandably distracted by the pandemic, and may be caught off-guard, especially if the cyber-attacks (such as phishing) are tailored and linked somehow to the pandemic.
Hackers and cyber attacker’s prey on small businesses in particular, as they may have less cyber security defence mechanisms than larger organisations. Small businesses are also targeted as they are perceived by some criminals to be a ‘back-door’ into larger organisations. The US retailer, Target, was compromised after hackers attacked an Air Conditioning Contractor who worked for Target.
The ‘explosion’ of internet-of-things (IoT) devices connected to the internet also increases the vulnerability of our homes and workplaces. Phishing (and the more targeted version, spear-phishing) and malware attacks are the most frequent form of cyber breach.
Reducing the risk of a cyber attack
Using Zurich Risk Engineering’s award-winning self-assessment app, Zurich Risk Advisor, Brokers can assist Customers by conducting a ‘lite’ or full version of the Cyber Security self-assessment modules. This guides you through a series of questions, all with multiple-choice answers. Each question has background information to help make informed decisions. The full version will provide you with a professional report, including suggestions for risk improvement. The ‘Lite’ version assessment is shorter in length, and will still produce a summary report (however without risk improvements).
Zurich Risk Advisor (ZRA) app has recently launched a Risk Snapshot module ‘Reducing the Risks of a Cyber Attack.’ The ZRA Risk Snapshot modules are quick and easy to use, with ‘Yes’ or ‘No’ answers to questions which can be completed in just five-minutes to generate a comprehensive report. The Risk Snapshot module includes five stages covering: Essentials, Identify, Detection, Ransomware and Social Engineering, with risk improvement ideas and any related risk topic guidance docs provided at each stage.
Zurich Risk Advisor’s self-assessment modules and Risk Snapshots provides a handy tool for Brokers and Customers to assess a range of potential risks quickly and easily.
Cyber Security Awareness month is designed to make us all aware of the constant threat of cyber- attacks, and to remain vigilant at all times. So now is a great time to self-assess your own risks, threats and vulnerabilities, and to assist your customers with the same.
Zurich Risk Advisor is available for free. Download today by searching ‘Zurich Risk Advisor’ on the App Store or Google Play
