- Cybercrime costs the Australian economy more than AU$1 billion annually and half of all cybercrime is targeted at small businesses.
- In 2017, NAB had sent the details of approximately 60,000 customers to an email address on a global domain rather than its .au address.
Purpose of the roadshow
In a bid to aid businesses in better protecting themselves from cybercriminals, National Australia Bank (NAB) will be launching a roadshow next week, on Monday.
The bank will embark on a small tour around the country to teach Australian small businesses on cyber threats and recommended security measures. Small business customers will be given the opportunity to learn cyber protection skills and speak directly to cybersecurity experts.
"Cybercrime costs the Australian economy more than AU$1 billion annually and half of all cybercrime is targeted at small businesses,” NAB business and private banking chief customer officer Anthony Healy said. "Across Australia and often in regional areas, we see hundreds of small businesses and agribusinesses every year who are unfortunately targeted by cybercriminals through tactics like identity theft, romance scams, and invoice fraud."
Learning from the past
NAB's contributory move to cybersecurity awareness is also coming out of self-realized incidents.
- In July this year, NAB admitted to uploading some personal information on approximately 13,000 customers to the servers of two data service companies, without authorization.
- The compromised data included customers’ names, dates of birth, contact details, and in some cases, a government-issued identification number, such as a driver's license number.
- Though a human error, in early 2017, the migrant banking team of the NBA had sent the details of approximately 60,000 customers to an email address on a global domain rather than its .au address.
The roadshow will focus on how to keep defenses up to date, while providing information on encrypting data, and the employment of multi-factor authentication for identity protection, and other essential security measures.
- The NAB Cyber Security Roadshow will begin in Parramatta, New South Wales, on October 28.
- Next, it will head south to Wollongong, then to Tasmania for a show in Hobart on November 25.
- Victoria's Frankston will play host on November 26, followed by Perth on December 2, and then the Sunshine Coast in Queensland on December 4.