Norton Smb Cyber Security Survey

NORTON SMBCYBER SECURITYSURVEYNew Zealand 2017

CONTENTSSMB cyber security snapshot3SMBs held to ransom4Backup and recovery5Adoption of internet security solutions6Most prevalent cyber attacks7Public Wi-Fi usage8From the experts: security tips and tricks9About the survey / About Symantec10Norton Cyber Security SMB Survey – New Zealand2

SMB CYBER SECURITYSNAPSHOTNORTON SMB CYBER SECURITY SURVEY 2017This report presents the summary findings of Norton’s annualSMB Cyber Security Survey 2017, which aimed to gain anunderstanding of cyber security perceptions and practices amongstsmall to medium businesses (SMBs) across New Zealand. The surveyfindings have been released to help raise awareness about thesecurity risks many New Zealand small businesses are exposed to,and provide insights into the measures business owners can take tohelp mitigate those risks to improve the security of their business.Over 1/3of businesses don’tthink they’d last a weekwithout criticalinformation.24%of New Zealand smallbusinesses experienceda cyber attack(Up from 18% in 2016)In 2017, New Zealand small businesses turned to cyber securitymeasures to future-proof their business, as they begin to acknowledgethe serious impact a cyber threat can have.24% New Zealand small businesses have been hit by cyber crime,increasing from 18% in 2016.More than a third of business operators (35%) don’t think theywould last one week without access to critical information. 24%of New Zealand small businesses have been hit by cyber crime,increasing from 18% in 2016.Norton Cyber Security SMB Survey – New Zealand3

SMBs HELDTO RANSOMRansomware is a type of malware (malicious software)that prevents or limits users from accessing theirsystem, either by locking the system’s screen or user’sfiles unless a ransom is paid.In 2017, 7% of business operators had been affected bya ransomware attack, up from 5% in 2016.Businesses with an IT spend of over 10,000 NZD were more likelyto have experienced a ransomware attack (15%).Over two thirds (69%) of business operators were likely to report aransomware attack to the police, increasing from 2016 results at 68%.7%of business operatorshad been affected bya ransomware attack69%of business operatorsare likely to reporta ransomware attackLikelihood of reporting a ransomware attack201614%201716%68%8%8%Unlikely10%67%Neither Likely nor UnlikelyLikely9%Don’t Know / DependsAs a preventative measure and overall good business practice all businesses should consider backing up their data.Backup can be done locally or to an offsite location, but you need a method of retrieval should something go wrong.See the next page for more detail.Norton Cyber Security SMB Survey – New Zealand4

BACKUP ANDRECOVERYOver one in five (23%) micro and small businesses back up theirbusiness data no more than once a month, compared to 11% in 2016.Over1 in 5Businesses who did backups were most likely to back up to anexternal hard drive (nominated by 69% of business operators, upfrom 62% last year), while 43% are using a cloud provider for theirbackups, increasing from 31% in 2016.small businessesback up their datano more than monthlyIn 2016, 16% of respondents backed up to their own computer,declining to 10% in 2017.FREQUENCY OF DATA BACKED E IS DATA BACKED UPMycomputeronly20172016An externalhard drive2017An offsiteserver2017In the cloud withcompanies suchas ton Cyber Security SMB Survey – New Zealand5

ADOPTION OF INTERNETSECURITY SOLUTIONSSign-ups for Internet security solutions have increased,from 70% in 2016, to 89% in 2017.However, 11% are yet to be protected.The survey found that the main reasons for Internet securitysign-ups were to prevent against potential threats (60%), andbelieved it was simply good business practice (42%). Interestingly,older business operators (50-59 years) were more likely toimplement internet security solutions as part of following goodbusiness practice (51%), than their younger counterparts (aged 40and under and only 31%)The proportion of workplace devices including laptops and PCs thatY SOLUTIONBYsecuredDEVICEwereby an Internet security solution were 81% each.SIGNUPS FORINTERNET SECURITY2017201689%70%This has unfortunately declined since the 2016 survey.AVERAGE USE OF INTERNETSECURITY SOLUTION BY 1681%89%2017201655%61%201720162017201641%42%Norton Cyber Security SMB Survey – New Zealand6

MOST PREVALENTCYBER ATTACKSThe survey reported email or phishing scams (66%) are the mostprevalent cyber attacks that Australian SMBs had fallen victim to,with hacking attempts (36%) and ransomware scams up from52% in 2016 also common.Type of Cyber Threat2017Email or phishing scam66%Hacking attempt27%Ransomware scam21%Online identity fraud10%Privacy or data breach7%An employee posting confidential informationon a social networking site2%An accidental loss of a laptop or mobile device orwell-meaning employee distributing confidentialdata unintentionally7%An internal threat such as employee stealing dataon USB key or leaking information to competitors2%66%of the businesseswho had experienceda cyber attack hadfallen to an email orphishing scamDowntime the main impact of a cyber security threatOf the small business operators impacted by a cyber attack, downtime emerged as the main impact of a cybersecurity threat (34 %), followed by expense for re-doing work (19%), inconvenience (34%), financial loss (13%)and data loss (8%).Of those that had lost data, over one third of that data (38%) had not been able to recover it, while the average financialloss caused per attack was over 15,500 NZD.Impact of Cyber Threats2017Downtime34%Inconvenience only34%There was no damage done to the business29%Additional time and expense for re-work19%Financial loss13%Privacy breach9%Lost important business information or data8%Reputational damage7%OF THOSE THAT HAD LOST DATA, THEAVERAGE FINANCIAL LOSS PER ATTACK:2017 15,592 NZDNorton Cyber Security SMB Survey – New Zealand7

PUBLIC Wi-FiUSAGEWith around 35% of businesses having employees on the roador working remotely some of the time, use of public Wi-Fi networksand the potential security threats they can create is increasing.Around two thirds to three quartersof businesses took security measureswhen accessing public Wi-Fi:31%ENSURED THEIR DEVICES WERE SECURELYCONNECTED TO ENSURE PRIVACY29%ONLY TRUSTED Wi-Fi LOCATIONSTHAT REQUIRED A PASSWORD24%At Least39%of businessesdid not take securitymeasures whenaccessing public Wi-Fi69%of businesses do notuse VPNs acrosstheir business devicesONLY TRUSTED HTTPS (PADLOCK) SITESWhile this shows that most many businesses understand the importance of undertaking such security measures, it stillallows opportunity for security breaches, as only 35% use VPN (Virtual Private Networks) across their business devices.Norton Cyber Security SMB Survey – New Zealand8

FROM THE EXPERTS:SECURITY TIPS AND TRICKSAs attackers evolve, there are many steps businesses can take to protect themselves.As a starting point, Norton recommends the following best practices:1Don’t wait until it’s too late to knowyour business: It’s tough running a smallbusiness at the best of times and sometimesbusinesses overlook things until it’s too late.Businesses shouldn’t wait until they’ve been hitby a cyber attack to think about what they shouldhave done to secure their information. Not only isdowntime costly from a financial perspective, butit could mean the complete demise of a business.SMBs need to begin understanding the risks and thesecurity gaps within their business beforeit’s too late.234Get employees involved: Employees play a5Use strong passwords: Use unique passwords6Consider adding a cyber insurance policy:Invest in security and backup:To reduce the risk of being hit by a cyber attack,SMBs must implement comprehensive securitysoftware solutions such as Norton Security forProfessionals or Norton Small Business for alltheir devices. Businesses should also use backupsolutions to protect important files, such ascustomer records and financial information,and should consider encryption to add furtherprotection in case devices are ever lost or stolen.Keep up-to-date: Ensure all your companydevices, routers, operating systems, software andapplications are always up to date with the latestversions and patches. It’s a common pitfall for manysmall business to delay software updates but outdatedsoftware, operating systems and applications canhave security vulnerabilities thatcan be exploited, leaving many small businesses opento cyber attacks.critical role in helping to prevent cyber attacks, andshould be educated on security best practices. Sincesmall businesses have few resources, all employeesshould be vigilant and know how to spot phishingscams, ransomware attacks and be aware of whichsites they can visit on their work devices. Smallbusinesses should invest in educating employees sothey become your best line of defence against cyberattacks, not your weakest link.for all your devices and business accounts. Changeyour passwords every three months and never shareor reuse your passwords. Additionally, considerencouraging staff to use password managers suchas Norton Identity Safe to further protect yourinformation and keep cyber criminals at bay. Wi-Finetworks should also be password protected to helpensure a safe working environment.Cyber insurance policies can cover businesses forfinancial losses resulting from cyber attacks.Only 10% of New Zealand SMBs currently hold a cyberinsurance policy.Norton Cyber Security SMB Survey – New Zealand9

ABOUT THE SURVEYNorton’s SMB Cyber Security survey researched businessperceptions of cyber security issues including computer backup,cyber security, ransomware and cyber insurance. This reportpresents the summary findings from the survey comprising anational sample of 502 business owners and operators, conductedfrom October 5-23, 2017. The businesses participating in thesurvey all employed between 1 to 20 people and werea registered business or sole trader in New Zealand.This research report was prepared by Gundabluey Researchand fieldwork was completed by QOR (Quality Online Research).It has a standard error margin of /- 3%.ABOUT SYMANTECSymantec Corporation (NASDAQ: SYMC), the world’s leadingcyber security company, helps organisations, governmentsand people secure their most important data wherever it lives.Organisations across the world look to Symantec for strategic,integrated solutions to defend against sophisticated attacksacross endpoints, cloud and infrastructure. Likewise, a globalcommunity of more than 60 million people and families rely onSymantec’s Norton and LifeLock product suites to protect theirdigital lives at home and across their devices. Symantec operatesone of the world’s largest civilian cyber intelligence networks,allowing it to see and protect against the most advanced threats.For additional information, please visit www.symantec.comor connect with us on Facebook, Twitter, and LinkedIn.Norton Cyber Security SMB Survey – New Zealand10

ABOUT THE SURVEY Norton's SMB Cyber Security survey researched business perceptions of cyber security issues including computer backup, cyber security, ransomware and cyber insurance. This report presents the summary findings from the survey comprising a national sample of 502 business owners and operators, conducted from October 5-23, 2017.