Source: Unsplash/Dan Nelson
With one cybercrime reported every six minutes in Australia, the country's small and medium-sized businesses have emerged as one of the sectors least prepared to protect themselves from cyberattacks, according to National Australia Bank. The Australian government has declared cybersecurity an urgent national issue. the study.
NAB announced Wednesday that it is partnering with global cybersecurity company CrowdStrike to help small and medium-sized business customers combat ransomware, data breaches and cyber threats, and protect themselves in the long term.
Through this partnership, eligible NAB small business customers will receive 12 months of free cybersecurity protection with their one-year subscription to CrowdStrike 'Falcon Go'. NAB will cover his annual cost of $450 for a cybersecurity software product for one year.
A NAB study last year found that Australian small and medium-sized businesses are not only one of the least prepared sectors to protect themselves from cyber-attacks, but also have the least extensive training on fraud and cybersecurity risks. Only 15% of SMEs are trained, and 4 in 10 are confirmed to have received training. “I haven't done much training.”
The partnership announcement comes as the Australian government continues to strengthen cybersecurity across the country, as confirmed in a government report. Australia’s Cyber Security Strategy 2023-2030announced in November 2023 that it would create six “cyber shields” to protect Australians and businesses from threats.
In January this year, NAB announced it had partnered with Microsoft to provide Australian small and medium-sized businesses with a free cyber assessment tool that asks questions about their security, data and IT environments.
Small business customers can apply for the offer through the NAB app, internet banking or their bank representative. smart company Naturally, we took a closer look at the terms and conditions to learn more about eligibility criteria.
This offer is exclusive to NAB small business owners with business transaction accounts who took advantage of the offer by March 31, 2026 and do not already have a CrowdStrike account.
Customers get 12 months of free access to the security software with up to 150 free licenses per business customer. CrowdStrike benefit is limited to the first 11,000 devices registered by an eligible NAB customer.
Sandro Bucchianelli, NAB's chief security officer, said more needs to be done to protect small and medium-sized businesses as the number of cyber-attacks increases.
“The number of cyber-attacks continues to rise year on year, raising concerns that small and medium-sized businesses, which make up 97 per cent of all Australian businesses, are among the least cyber-prepared sectors,” Bucchianelli said. said.
“As Australia’s leading business bank, we play an important role in educating and supporting small and medium-sized businesses to keep them safe. We are doing things.
“It can take businesses years to recover from a cyberattack due to cost and complexity. By working with CrowdStrike, we are connecting businesses to help stop attacks before they disrupt business. , we aim to educate.”
According to the Australian Signals Authority, ransomware alone costs the Australian economy up to $3 billion each year. ASD Cyber Threat Report 2022 – 2023We also found that the top types of corporate cybercrime are email fraud, business email compromise (BEC) fraud, and online banking fraud.
The report also found that the average cost of cybercrime was $46,000 for small businesses, $97,200 for medium businesses, and $71,600 for large businesses.
Small businesses across Australia are not only experiencing financial costs when it comes to cybercrime. Australian Institute of Criminology (AIC) 2023 Cybercrime in Australia Report We found that cybercrime remains significantly under-reported in Australia, with businesses impacted by personal health and legal issues.
