Tag: cyber insurance

Ransomware – Are you the Next Target?

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In 2021, many Australians fell victim to ransomware attacks and the accounting industry was in the top three industry sectors to notify data breaches. The Office of the Australian Information Commissioner (OAIC) reported an increase of 24% in ransomware incidents from the previous six month reporting period.  Average ransom payments…

Cybercrimes Said to Have Affected 1 in 6 People

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A report by NortonLifeLock Digital Transformation claims that one in every six people in Australia were defrauded by cybercrimes during the lockdown. Increased screen time has led to a spike in the number of suspected cases. The spread of the coronavirus led to a work-from-home environment for many businesses, yet…

The effects of Covid-19 on cyber crime

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There are a number of reports emerging that predicts e-scams are likely to increase in the coming weeks and months. The Australian Cyber Security Centre have encouraged everyone to remain alert and the Australian Competition and Consumer Commission have received over 140 reports from individuals and businesses across Australia about…

Australian Businesses are Losing Billions to Cyber Attacks

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Each year, Australian businesses are losing approximately $29 billion due to cyber attacks. Officials say they receive a report of a cyber attack every 10 minutes. According to a Business SA report, the average cost of a cyber attack is $276,000. Adam Thomson, communications and engagement director of Crime Stoppers,…