The latest data reveals that Australian small businesses lost almost $13.7 million to scams in 2022, an increase of 95 per cent compared to 2021, according to the Australian Competition and Consumer Commission (ACCC). The largest contributor to these losses were payment redirection scams, also known as business email compromise (BEC). These scams involve falsifying an email to trick a victim into performing a certain action, typically to send money to the attacker.
Many small-to-medium businesses (SMBs) are already aware of the risks posed by emails and phishing scams to their cybersecurity posture; however, there are more opportunities to continue to strengthen their security posture. In today’s diverse, hybrid, and remote working environments, SMBs can face numerous cybersecurity risks that they aren’t properly prepared to defend against. To continue to improve efficiency and productivity for an increasingly remote workforce, businesses must address potential security risks head-on, according to TeamViewer.
Sojung Lee, President – APAC, TeamViewer, said, “While remote and hybrid working environments deliver flexibility and agility to SMBs to let them drive productivity and have access to a more diverse talent pool, they also introduce new risks. Managing bring your own devices (BYOD) has been a headache for IT personnel for years, especially in under-resourced teams or SMBs running lean. Now with disparate working environments complicating the landscape, there are more complexities for the network, including visibility of distributed software and hardware.”
As a result, many SMBs have turned to remote management tools to bridge the gap and to help better protect their working environments, no matter how diverse they may be, which is especially beneficial to lean IT departments.
Sojung Lee said, “Remote management tools play an important part in decentralised workplaces. Many organisations have now incorporated this technology into their business structure because of the connectivity it provides as well as the ability to access, control, manage, monitor, and repair devices in real-time. However, ensuring these tools are secure is most important because they can expose businesses to potential malicious activity if not managed correctly.”
Inadequate security in remote management tools presents substantial risks to SMBs. To protect both business data and employees’ personal data from web-based threats when using a business network, there are a number of steps businesses can take.
Sojung Lee said, “Good cybersecurity hygiene is just as important as general health and hygiene. For the best possible protection, SMBs should choose tools that are designed with security at their core, instead of as an add-on. Businesses must invest in secure remote management tools that let them centrally oversee and manage their IT inventory at a glance, as well as solutions that facilitate the auditability of connections, so IT teams can easily see where a connection is coming from.”
Additionally, SMBs should look for solutions that simplify regular file backup and software patching as well as control user permissions. This helps reduce the pressure on under-resourced IT personnel and lets them dedicate time to other pressing security and management issues.
Sojung Lee said, “Outdated software is a treasure trove for malicious threat actors so it’s essential for SMBs to invest in the latest protections to keep their cybersecurity posture up to date. Securing as much of the network as possible is critical for maintaining good cybersecurity and ensuring that security is a priority in every new technology a business deploys is essential, including remote management tools. The latest innovative remote connection solutions can provide more protection for networks—through session links, two-factor