NAB offers free cyber defense to small businesses

SME Banking
23/04/2024 News

NAB, Australia’s largest business bank, is urging small businesses to prioritize cybersecurity, announcing a year of free cyber security software for its business customers.

A recent NAB study found that small and medium businesses (SMEs) are among the least prepared sectors when it comes to cyber security. To address this, NAB partnered with global cyber security firm CrowdStrike to offer eligible small business customers a free one-year subscription of CrowdStrike ‘Falcon Go’. This aims to reinforce SME defenses against ransomware, data breaches, and cyber threats.

NAB Chief Security Officer Sandro Bucchianeri stressed the importance of enhancing cyber protections for small and medium-sized businesses. He said, “The number of cyber attacks continues to grow year-on-year, and it’s worrying that SMEs – which make up 97% of all Australian businesses – are among the least cyber prepared sectors.”

In addition to the CrowdStrike offer, NAB provides other initiatives to help its small business customers stay safe online, including a free cyber security assessment in partnership with Microsoft.

In the 2022-23 financial year, the Australian Signals Directorate received one cybercrime report every six minutes, costing small and medium businesses an average of $71,600 each.

Mr. Bucchianeri stressed the importance of prioritizing cyber security for SMEs, saying, “Smaller businesses just don’t have the resources to manage cyber security at a high level. The Government’s cyber security strategy rightly places small businesses at the center of its efforts."

CrowdStrike Chief Business Officer Daniel Bernard praised NAB’s initiative, stating, “This initiative raises the cyber security bar for small businesses across Australia.”

NAB, in partnership with CrowdStrike, will cover the $450 annual cost of ‘CrowdStrike Falcon Go’ for eligible small business customers for one year and offer a 15% discount thereafter.

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