Cyber top risk for SMEs

DATA breaches, ransomware attacks, spoofing emails and the prospect of litigation resulting from cyber incidents are the top risks facing small to mediumsized enterprises (SMEs) globally, the 2020 Allianz Risk Barometer reveals.

Based on the results of an international survey of SMEs, concerns about cyber incidents topped the list ahead of supply chain business interruption and legislative and regulatory reforms.

The barometer results follow a Fred IT blog noting cyber attacks against Australian businesses surged 700% between 2018 and 2019, costing $7.8 billion.

The blog warned pharmacists were not immune from the threat of cyber attacks.

“The health and medication data that you deal with every day increases the likelihood that you will become a target of cybercrime,” the Fred blog said.

“The same applies to all health service providers.

“This is because health data can be extremely valuable to cyber criminals.

“All cybercriminals are looking for information – such as personal and address information, banking and credit card details, and business information – that they can re-sell on the dark web.

“But health data is potentially more valuable than financial and personal information alone.

“This is why its important that you stay informed about the risks and actively protect your pharmacy’s cyber security in the same way that you would protect other areas of your business.”