7 Cyber Security Tips for Franchises

Cyber security should be a priority for any business to protect their data from being hacked or stolen. But with COVID, cyber risks have ramped up, especially with more people working from home.

One of the fastest growing threats in Australia is ransomware. This is where cyber-criminals steal your data and demand a ransom to give it back – usually in the form of untraceable cryptocurrencies. Other threats include email phishing, shopping and banking scams, online fraud and identity theft.

By having a strong cyber security policy, your franchise can protect itself against threats and scams and subsequent financial losses.

Here’s how.

1. Invest in software such as firewalls and anti-virus programs and make sure to run regular scans. 
2. Protect your data through daily backups, use of strong passwords or passphrases, multi-factor authorisations, and access controls and restrictions.
3. The Australian Cyber Security Centre (ACSC) recommends always updating your software programs, ideally by switching on automatic updates if available.
4. Train your franchisees and staff in how to recognise suspected threats and how and where to report them.
5. Avoid unmanaged devices on your network. This has been a problem with more people working from home and workplaces failing to implement strong security controls.
6. Have up-to-date cyber insurance in place in case of financial losses due to attacks.
7. Sign up for cyber alerts with the ACSC (scroll down to complete the form).

For more information on keeping safe online see the ACSC small business cyber security guide.