Understand evolving cyber security threats and why supply chain security matters. Learn risk management strategies with tips to help protect you and your customers.
Cyber security threats are a growing concern for businesses of all sizes and supply chain security is a key area of risk management.
Criminals can target the digital technologies that many businesses rely on to operate and connect to each other. Many cyber security threats come from common scenarios such as phishing attacks and third-party breaches.
The good news is there are practical steps you can take to help protect your business.
Key tips:
Read on to learn more about supply chain security and get tips to help protect your business.
According to the Australian Cyber Security Centre (ACSC), cyber attacks are growing. They can hit you financially, waste your time and even impact your reputation with customers.
The ACSC reports that the average cost of a cyber incident for small businesses is now over $56,000.
As part of protecting your business, it’s important to have strong supply chain security.
Supply chain security matters because businesses are becoming increasingly connected to each other. For example, your business might:
Taking steps to be more secure can help your business stay competitive. Following clear cyber security practices can help build trust with your customers and partners.
A supply chain cyber attack is when a cyber criminal targets your business by exploiting a weakness in one of your suppliers. Rather than target your systems, attackers aim to breach a third-party. They then move through that digital connection to gain access to your systems or data.
Supply chain risks can affect small businesses in two important ways.
Any third parties you work with can be a potential way for cyber criminals to target your business. These can include:
If one of your suppliers experiences a data breach, your data could be exposed, and your systems could be affected too.
If your business sells to other organisations, you are part of their supply chain. This means a breach of your business can have consequences for your customers. The ACSC warns that cyber criminals often target small businesses first. Once they’re in, they move through the connected supply chain.
Your business customers may already have security expectations as part of their supply chain management process.
Larger companies, or those operating within sectors which are highly regulated, may require their partners to follow strong cyber security and disclosure practices. These requirements may be considered as part of tender processes and contracts.
Being able to meet these requirements may mean the difference between winning a contract or missing out.
A good understanding of how cyber security risks may show up in your business can help you take a more complete approach to supply chain cyber security.
Training, such as Cyber Wardens Level 3 – Cyber fit for the supply chain, can help your business build good awareness of cyber security threats. It explains common supply chain risks and helps you check suppliers’ practices. It also guides you through creating a clear incident response plan. This can help you meet customer expectations and strengthen your business cyber security.
Cyber criminals use several attack methods to target businesses through their supply chains. Some of the most common are phishing, ransomware and software supply chain attacks. Let’s explore these below.
Phishing scams are designed to trick you into sharing sensitive information or clicking harmful links. These may look like genuine messages from suppliers, partners or well-known brands.
Learn more about phishing and how to help minimise risks to your business
Ransomware is software that locks your files or systems. Attackers demand payment to release your data. The ACSC reports that ransomware is one of the most disruptive cyber threats for Australian businesses.
Hackers can also target software used by businesses. They try to exploit trusted tools or out-of-date software. Learn how automatic updates help keep your business secure.
Connected devices like payroll terminals, printers or security cameras can also be a target for cyber attacks. If you or a supplier installs or manages devices that aren’t secure, their settings may affect your business’s cyber security.
A cyber attack can disrupt your supply chain, even if your business isn’t the direct target. Successful attacks can delay orders, interrupt payments or limit access to important systems. This can slow down your operations and affect your customers.
Cyber incidents can also expose sensitive information. A breached partner may unintentionally reveal your staff or customer data. This may lead to privacy issues and potential financial loss.
Here are some important steps you can take to help improve your supply chain cyber security:
Beyond the steps, above you should also consider cyber security practices across your team and your suppliers.
Ask your partners how they manage their data, updates and access. Understanding these practices can help you spot potential threats early.
Cyber security awareness training can help improve your supply chain risk management. Cyber Wardens Level 3 – Cyber fit for the supply chain offers easy-to-follow lessons to help your staff understand supply chain risks and how to respond to them.
We help Australian small businesses stay secure by monitoring our network 24/7. We block millions of threats (scams, malicious calls, emails and websites) every day to help protect the businesses that rely on our network.
To help boost cyber security within your business, consider device security and if your business network and apps are set up to maximise security features. Explore the key elements of a strong cyber security strategy.
We can help you improve cyber security in your business. If you’d like support from a business expert you can request a callback from your local Telstra Business Technology Centre. They’ll be able to give you advice and help you explore our Managed IT Services solutions.
The right guidance and support can help you protect your business and boost operational resilience for the future.
Common threats include phishing, data breaches, ransomware and compromised software updates. These attacks often start through everyday interactions with suppliers or digital services.
You can help protect your business by using multi-factor authentication, backing up data and checking supplier practices. Training your team to recognise suspicious messages or activity is also important.
If a supplier is breached, your business may be affected too. Understanding how your partners protect their systems helps you identify and manage potential risks.
Disconnect affected devices, contact your IT support, and notify anyone whose data may be involved. You can also report incidents on the ACSC website.
Enhance your digital security on up to 15 devices and help make doing business online safer.
