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5 ways to keep your small business safer online

As a small business owner, you rely on technology to keep your business moving. Here’s some tips to protect yourself and your customers online.
5 min read
Published 22 May, 2024

Key Takeaways

  • "Even a minor incident can cost a small business a significant amount of money,” says AGL's Kate Prest
  • The longer the better when it comes to passwords. Instead of a single word, consider using a sentence or a phrase.
  • Businesses should implement multi factor identification (MFA) wherever possible, to protect both staff and customer data. 
  • Cybercriminals are becoming more sophisticated but educating yourself can help you spot a scam and avoid getting duped.

We rely on technology more than ever to streamline business processes, communicate with customers and keep costs low. But technology also brings risks. Cybercrime in Australia is on the rise, with reports to the Australian Cyber Security Centre increasing by 23% last year, compared to 2021/22. 

Your business may not have the in-depth security tools and processes of larger organisations, making it an attractive target for criminals – and the cost can be high. According to the Australian Signals Directorate’s Annual Cyber Threat Report for 2022-23, the average cost of cybercrime for Australian small businesses is $46,000 per incident.  

“Even a minor incident can cost a small business a significant amount of money,” says Kate Prest, Chief Cyber Influencer at AGL.

“It can also cause them a lot of pain and misery trying to get their identity back or computers fixed if they’ve clicked on malware.”

The good news is, protecting yourself online doesn’t need to be complicated or costly. Here are five simple strategies you can start using today.

1. Update your software and devices regularly

It can be tempting to ignore that notification when you’re busy, but software updates often include important security improvements to keep up with the latest cyber threats. You can set up automatic updates on many devices, so you know you’ll always be up to date. If you can’t use automatic updates, set reminders in your calendar to check regularly. 

2. Use multifactor authentication

Multi-factor authentication (MFA) – also called two-factor authentication – is when you need more than one way to prove your identity before logging in to your online account.

Businesses should implement MFA wherever possible, to protect both staff and customer data. 

MFA may include entering your online details plus a SMS or email verification code, biometrics like your fingerprint or facial recognition, or a third-party authenticator app.

Small office of people working on computers

3. Use strong passwords or passphrases

The longer the better when it comes to passwords. Instead of a single word, consider using a sentence or a phrase. Combine words you wouldn’t normally find together and make it even more secure by adding numbers or symbols. Kate recommends at least 12 characters for a normal account and much longer and more complex passwords for accounts with higher privileges. 

4. Learn how to spot a scam

Cybercriminals are becoming more sophisticated but educating yourself and your employees can help you spot a scam and avoid getting duped. Scammers will often use text, emails, phone calls and social media to trick you into giving away account details or re-routing payments. 

5. Back up your information regularly

Regular backups can help keep your data safe. It means that if you do get attacked, it’s easier to recover and keep your business going by restoring your most important data and information. Make sure your data is backed up on a regular basis to an external source. How frequently you need to back up your data will depend on how often it changes. 

Learn more about keeping your small business secure online.

Person working from a laptop dashboard while holding a pen and notebook

How to spot a phishing scam

Phishing attacks are emails or messages with a link to a fake website where you’ll be asked to log in or share your information. They can be particularly damaging for businesses – cybercriminals can access your social media accounts and then demand money for you to get them back. They could reroute payments or take money from your accounts. Or they might use the data to steal your customers’ private information and sell it online.

Phishing scams can look very convincing. But here’s how you can spot one:

  • It may include a threat or urgent request.
  • There may be spelling and grammar mistakes.
  • You might spot small errors in the domain the email claims to come from, like incorrect capitalisation or extra letters.
  • It could include a link or attachment that doesn’t look quite right when you hover over it with your mouse. 

With developments in technology, scammers are now able to impersonate voices over the phone and even people on video calls. This means small businesses need to be extra vigilant. 

“Be suspicious of everything,” says Kate. “Never trust anything that involves payment information or changing bank details. If you get a call or email from a client, supplier or an organisation you know, call your contact there to verify.” 

For example, scammers may pretend to be from AGL and try to steal your details or ask you to make payments using gift cards or iTunes vouchers. They may also ask you to make payment through a different website, where they can take your credit card information and your money. 

“They often use the AGL logo and fonts, and they can come from a department like the accounts receivables team or accounts payable. If you get a text or email from us claiming you owe money, it’s important to check if a link is legitimate before clicking. You can check on the AGL portal or directly on our website” says Kate.  

Technology has changed the way we do business for the better. With a few simple strategies and education, you can enjoy all the benefits technology brings for your business and employees, stay safer online and protect your customers. 

The information in this article is current as at the publishing date. For the most up to date information on each of these apps, please refer to their company websites.

For more insights and resources visit the AGL Discover Business page.

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