The COVID-19 pandemic has created an economic, financial and industrial wrecking ball, causing plummeting stock markets, mass job losses, company budget cuts and temporary closures of entire industries. The pandemic has also brought about a drastic increase in predatory cyberattacks, including ransomware and business email compromise attacks that target both businesses and their clients – and SMEs are most at risk.
“Statistics show that over 95% of companies that suffer cyberattacks are SMEs and from the number-one threat: ransomware,” says Chris Anderson, CEO at Australian Trade and Construction Insurance Solutions (ATC), which offers catered cyber cover and resilience strategies specifically for SMEs. “Plenty of small companies are hit by cyber-attacks that are simply not reported; there-fore, we are helping by sharing advice about how to stay cyber secure.”
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