Through this partnership, NAB aims to launch a free small business cyber assessment tool to help prepare against attacks.
Following the official announcement, NAB stated that the tool could help small businesses determine their cyber maturity and make informed decisions to protect their business, employees, and customers in the future.
According to the latest research by the Australian Signals Directorate, small to medium businesses lost an average of USD 71,600 in 2023 due to cybercrime, and incidents surged by 23%. This is because cybercriminals are increasing their tactics, targeting high-profile Australian businesses regularly and impacting everyone from the hospital system, legal system, and business community.
National Australia Bank is a locally owned public company that derives revenue through the provision of banking services, leasing, housing and general finance, international, investment and private banking wealth management services, custodian, trustee and nominee services, and credit and access card facilities.
Throughout 2023, NAB has introduced several new measures designed to protect its customers over the last six months. Some of these measures involved the introduction of payment prompts, blocking the use of links in suspicious text messages, and tackling spoofing. Moreover, in July 2023, the bank blocked more than AUD 270 million in customer payments citing cryptocurrency scam concerns. Specifically, NAB put a stop to an undisclosed number of transactions to crypto platforms that raised red flags between March 2023 and July 2023.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now