National Australia Bank (NAB) has teamed up with Microsoft to launch a free cyber assessment tool for small businesses.

The new tool takes under two hours to ask users a series of questions about their organisation’s security, data and IT environment.

The data findings and answers are designed to provide users with tailored, fact-based advice on how to improve cybersecurity for their business.

“The number of cyber attacks impacting small businesses continues to grow each year," said NAB chief security officer Sandro Bucchianeri. "Last financial year, a cyber crime was reported every six minutes and cost small to medium businesses an average of $71,600, according to the latest research by the Australian Signals Directorate, with incidents surging 23 percent.”

Bucchianeri added: “As we’ve seen over recent weeks, cyber criminals are stepping up their tactics, targeting high profile Australian businesses on a near-daily basis, impacting everyone from our hospital system, legal system and business community. Tools like this will help the small business sector respond if they are caught up in a hack.”

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