--- title: "Cyber-security in 2025: Why protecting your business is no longer 'optional'" description: Discover the benefits of BrokerEngine and AFG's collaboration, revolutionizing the lodgement process for ApplyOnline deals, saving time and enhancing customer experiences. image: https://afgonline-com-au-2946851.hs-sites.com/hubfs/01%20Product%20and%20Customer/01%20Customer/PM%20Update%20Images/pm_update_feb-6-Unlocking%20the%20power%20of%20analytics.png --- # Cyber-security in 2025: Why protecting your business is no longer 'optional' [ AFG ](http://afgonline-com-au-2946851.hs-sites.com/pm-update/author/afg) 17 June 2025 11:29:30 AM ![](https://afgonline-com-au-2946851.hs-sites.com/hubfs/01%20Product%20and%20Customer/01%20Customer/PM%20Update%20Images/pm_update_feb-6-Unlocking%20the%20power%20of%20analytics.png) In an age where digital tools drive almost every part of business, cyber threats are rising faster than ever and it appears to extend across most industries. Every day in Australia, **220 cybercrimes are reported**, and **1 in 5 businesses experience a cyber event each year**. But here’s the scary part: **many incidents go completely unnoticed** because businesses don’t even realise they’ve been compromised.   ## Who's at risk? Cybercrime isn’t confined to tech companies or major corporations. Some of the most targeted sectors include: - **Healthcare** - **Government** - **Financial Services** If your business stores or processes sensitive client data, you’re a target and you can't afford to not be prepared.   ## The most common threat: compromised inboxes A staggering **60% of cyber insurance claims** begin with something as simple as a hacked email account. From there, attackers can access client data, internal files, and even financial records. Businesses are legally required to **notify affected clients** and reveal the details of the incident, transforming it into not only a technical challenge but also a reputational and financial concern.   ## A smarter way to stay secure: FinanceVault Enter **FinanceVault, **a purpose-built, AWS-hosted secure server designed to protect your data and software. Sitting outside your core systems, it acts as a **fortified digital perimeter**, reducing your risk and insulating critical operations from threats. Whether you're a mortgage broker, financial planner, or accountant, **FinanceVault provides peace of mind** by adding a powerful layer of protection between your business and potential cyber-attacks.   ## Real-life case study: One-click, $35,000 lost Let’s look at a real-world example. An accountant received what looked like a legitimate Dropbox link from a client. After clicking it, things quickly spiraled out of control. The result? - **E-discovery**: $16,000 - **Legal fees**: $10,988 - **IT forensics**: $8,000 - **Client notifications**: $150–$180 per client - **Agency notifications**: Additional costs for emails, PR, credit monitoring **Total cost: $35,000 +** the potential damage to reputation or client trust.   ## The fall-out of a cyber attack If the financial cost isn’t enough to raise alarm, consider this: **65% of Australian businesses go under after a cyber event**. That’s because the impacts are wide-reaching: - Damaged reputation - Lost client trust - Interrupted income - Long recovery times For small to medium-sized businesses, the average loss can be as high as **$250,000**, contributing to the **$29 billion** lost annually to cybercrime by Australian SMEs. ## It’s not just your current clients at risk Once someone breaches your system, they can access everything, **from current deals to past client interactions and even abandoned applications**. That includes: - Past enquiries - Settled loans - Current loan pipelines In short, your entire digital footprint is exposed. --- ## Don’t wait until it’s too late Cybersecurity is no longer a “nice to have.” It’s a **non-negotiable** business priority. With threats escalating and costs rising, protecting your systems, your clients, and your reputation should be at the top of your to-do list. **Take the first step with [FinanceVault and BrokerEngine Plus](https://brokerengine.com.au/demo/) to secure your future today.** [Technology](http://afgonline-com-au-2946851.hs-sites.com/pm-update/tag/technology) [13 August 2024 1:57:13 PM Our journey to direct lodgement is reaching the final stages ](http://afgonline-com-au-2946851.hs-sites.com/pm-update/our-journey-to-direct-lodgement-is-reaching-the-final-stages) [4 October 2022 8:39:25 AM AFG brokers love these four new BrokerEngine features ](http://afgonline-com-au-2946851.hs-sites.com/pm-update/afg-brokers-love-these-four-new-brokerengine-features) [11 September 2024 4:39:16 PM Dive into the benefits of BrokerEngine Plus beyond direct lodgement ](http://afgonline-com-au-2946851.hs-sites.com/pm-update/brokerengine-features-and-benefits) ## Recommended Articles [![Shine a light on the broker difference](https://afgonline-com-au-2946851.hs-sites.com/hubfs/MFAA%20broker%20campaign%20PM%20Update%20article%20960x540px.jpeg) Shine a light on the broker difference ](http://afgonline-com-au-2946851.hs-sites.com/pm-update/shine-a-light-on-the-broker-difference) [![Staying compliant with the Spam Act](https://afgonline-com-au-2946851.hs-sites.com/hubfs/01%20Product%20and%20Customer/01%20Customer/PM%20Update%20Images/mail.jpeg) Staying compliant with the Spam Act ](http://afgonline-com-au-2946851.hs-sites.com/pm-update/staying-compliant-with-the-spam-act) ## Stay up to date with the latest updates View all of the latest articles to help enable you to grow and succeed as a mortgage broker with AFG. 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