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The NSW Small Business Commissioner has partnered in a national study with the Victorian, South Australian and Western Australian Small Business Commissioners, the Queensland Small Business Champion, and the Australian Small Business and Family Enterprise Ombudsman to investigate cyber security awareness amongst small and medium-sized enterprises (SMEs) across Australia. The partnership resulted in the Cyber Aware National Report, released in November 2017.
This follows the Cyber Scare report (May 2017) by the NSW Small Business Commissioner, which detailed the result of its study into NSW business attitudes and views of cybercrime.
The emergence of digital technology as a global, shared infrastructure has contributed to a growing risk of cyber security events or cybercrime. Cyber security events, previously unknown or rare in the 1990s, now occur globally, every second that an organisation operates online.
The national survey shows that 40% of cybercrime events are costing between $1,000 and $5,000 and for two out of every three businesses these costs are not recovered.
Watch the video below to learn how cyber crime can affect small businesses.