The second annual Chubb SME Cyber Preparedness Report - ‘Ignorance is Risk’, revealed that nearly half (47%) of Small and Medium Enterprises (SMEs) in Australia are unaware of their cyber reporting obligations under the Notifiable Data Breaches (NDB) scheme introduced in February 2018.
One in two (49%) SMEs said they had been the victim of a cyber incident. Rather than continuing to be vigilant, the findings suggest that SMEs have become overly confident when it comes to their cyber risk preparedness, with one in three (32%) senior leaders assuming their businesses will never experience a cyber incident.
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