Remain vigilant: scams and cybersecurity risks are now a daily threat
Scams targeting businesses are becoming more frequent and increasingly sophisticated, making it crucial for small businesses to stay vigilant and prepared.
25 February, 2025
While technology helps businesses operate more efficiently, it also increases their exposure to scams and cybersecurity threats. As scammers become more sophisticated, small business operators must stay alert—especially when dealing with unknown parties or situations that seem suspicious. Human error remains a key vulnerability, making it essential to equip both staff and systems with the knowledge and tools to detect and respond to threats.
A survey conducted by the NSW Small Business Commission has found that one in nine small business respondents had been the victim of a scam in the past 12 months. This figure rises to one in seven for businesses based in regional NSW.
Thirty per cent of small businesses reported being targeted by scams each month, with a further 20 per cent targeted weekly, and 9 per cent daily. For 20 per cent of victims of scams, the financial loss was over $10,000; and 11 per cent incurred losses exceeding $50,000.
The majority of small businesses say they are prepared to identify and prevent potential scams (70 per cent), however 8 per cent reported feeling unprepared.
While scams often exploit human trust and error, cybersecurity threats are typically driven by hacking and exploitation of technical vulnerabilities. However, the lines between the two are increasingly blurred, as many scams now incorporate cybersecurity breaches, and cyberattacks frequently use social engineering tactics.
There are a range of resources provided for small business to support preventing and responding to scams. The Commission’s Cyber Crime Awareness page provides useful links to help navigate potential vulnerabilities. The Commission has also prepared a guide to support small businesses to protect their business from online threats.
To safeguard your business, we encourage you to take advantage of available resources, including comprehensive guides on cybersecurity and online threat protection. For example, the CyberWardens program offers a free online cyber security course for small business owners and employees.
More information and resources: