This follows NAB’s research late last year that found small and medium businesses (SMEs) are one of the least cyber prepared sectors. It revealed that only 15% of SMEs conduct extensive training around scams and cyber security risks, while four in 10 had “not much training at all”.

To help businesses bolster cyber protections, NAB - in partnership with global cyber security firm CrowdStrike - is offering eligible small business customers a free year subscription of CrowdStrike ‘Falcon Go’, to support and reinforce SME defences against ransomware, data breaches, and cyber threats.

Stopping attacks before they stop business

NAB Chief Security Officer Sandro Bucchianeri said as the number of cyber attacks increase, more needed to be done to help protect small and medium-sized businesses.

“The number of cyber attacks continues to grow year-on-year, and it’s worrying that small and medium businesses - which make up 97% of all Australian businesses - are one of the least cyber prepared sectors,” Mr Bucchianeri said.

“As Australia’s leading business bank, we have a key role to play in helping educate and assist small and medium-sized businesses to ensure they remain secure. That’s why NAB is doing what it can to help lift the cyber security resilience of our customers.

“It can take businesses years to recover from a cyber attack due to their cost and complexity. By working with CrowdStrike, we are looking to connect and educate businesses, so they can help stop attacks before they stop business.”

The CrowdStrike offer complements other initiatives that NAB is providing to help its small business customers to stay safe online, including a free cyber security assessment in partnership with Microsoft.

One cybercrime report every six minutes

In the 2022-23 financial year, the Australian Signals Directorate received one cybercrime report every six minutes at a cost of $71,600 - on average - to small and medium businesses.

A man, Sandro Bucchianeri, being filmed by a TV crew in NAB’s Fusion Centre

NAB Chief Security Officer, Sandro Bucchianeri

Mr Bucchianeri said the SME community, which makes up the majority of Australian businesses, needed to be the country’s number one priority to achieve national cyber resilience.

“Smaller businesses just don’t have the resources to manage cyber security at a high level,” he said.

“The Government’s cyber security strategy rightly places small businesses at the centre of its efforts, and we’re determined to help lead a collective effort to shift small businesses from one of the least prepared sectors in the country, to the most capable and resilient community group.

“We’re urging businesses to evaluate their cyber security and take steps to strengthen it, before it’s too late.”

Raising the cyber security bar for small businesses

CrowdStrike Chief Business Officer Daniel Bernard said modern cyber security was a team sport.

“We talk about cybersecurity being a ‘team sport’, and this initiative from NAB is a quintessential example of that in practice, raising the cyber security bar for small businesses across Australia,” Mr Bernard said.

“This will help provide small business with tailored technical expertise and the kind of mature security infrastructure that larger organisations have.”

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.