Cyber scams are increasing at an alarming rate. It is more common for Australians to have experienced some form of scam, than not. This is due largely to technology improving at a fast rate, allowing cyber criminals more tools than ever to attempt to access people’s sensitive data and personal information.
When viewing the Australian Government’s scam statistics website, there is an overall scam tracker report. This report tracks the different types of scams that Australians have been caught out by. As well as this, the reported scam numbers are trackable, so too are the top contact methods found to successfully trick people, and which states are reporting scams the most.
Cyber Scams Australia Report – The Numbers
Alarmingly, the total number of scams in general for Australians so far in just 6 months during 2024 is over $134 million, with over 140,000 reported incidents. When narrowing down the types to those including cyberattacks, this number changes, however it is still a significant amount.
When including cyberattacks such as ransomware, hacking, identity theft, phishing and remote access scams, there is a total of over 90,000 reported scams, with damages coming in at just short of $18 million.
A report, as of July 2024, the top scams by financial loss are:
- Phishing – $9,653,308
- IT Support – $4,750,825
- ID Theft – $3,298,409
As well as this, the top contact methods for these scams, as of July 2024, are the following:
- Text Message – 43,736
- Email – 26,670
- Phone Call – 16,407
This is a clear indication of the fact that cybersecurity is still absolutely paramount for Australian businesses as we are nearing the end of 2024. Cyberattacks are still incredibly prevalent, and the impacts that they have on businesses can be disastrous. In many cases, these cyber scams can make or break a business. An example of this was seen with the MediSecure Data Breach, with the national e-script provider entering administration merely 3 weeks after the day of the breach being discovered.
Cyber Scams – What can Businesses do?
If you are a business looking at these numbers and fearing the consequences that may well impact your daily operations, now is the time to act.
Cybersecurity is extremely important for all modern-day businesses to maintain the safety of sensitive data, private information, and financial material. Preparing your business for all forms of cyberattack is crucial to the ongoing success of a company. Protecting your client’s data and information is also incredibly vital, not just for compliance reasons, but also continuing to repay the faith and trust placed in your business by them.
Implementing robust cybersecurity systems into your business and IT infrastructure is a fantastic step in the right direction to keep your company’s private data and information secure.
Managed Service Providers, such as Adept IT Solutions, can provide such a service, alongside a number of other benefits that take your business to the next level. Instilling Managed IT Services allows your business to focus on growth, sales and your customers, whilst your IT support is taken care of.
Cyber Scam – Phishing
Looking at the data on the Australian Government’s scam statistics website, the front runner in terms of financial loss caused by a cyberattack scam is phishing. Phishing is a cyberattack that is focused on lies and deception towards the recipient. It is a cyber attack where cybercriminals attempt to deceive employees within a business to provide sensitive information, such as usernames, passwords, credit card numbers or other private data.
Phishing is typically performed by cybercriminals acting as trustworthy individuals, or those in power at a business. Using electronic communication, such as email, text messages, or attachments, this cyberattack deceives users into clicking on malicious links, downloading harmful attachments, or even simply sending through account information.
Managed IT Support can assist with the rise of phishing, with not only technical components implemented, such as mail security and next-gen firewalls, but also employee training that sets up employees for the best chance of success against cyber scams.
Cyber Scams – Preparing for the End of 2024
As we are quickly closing in on the final quarter of 2024, businesses still have time to secure their IT systems, and implement reliable cybersecurity systems. IT support has quickly become a necessity for Australian businesses, with cybercriminals continuing to target companies of all sizes.
As we head into the back end of the year, cybercriminals will unfortunately not let up, as shown last year with nearly $1.8 million worth of reported losses in December 2023 alone. Phishing remained at the top of the list as well, contributing close to $1 million worth of losses.
There are many ways that the presence of IT support providers, such as Adept IT Solutions, can assist with the overall levels of cybersecurity within a business. Just some of the steps that can be taken include:
- Employee Training and Awareness
- Email Security
- Security Policies and Procedures
- Multi-Factor Authentication (MFA)
- Regular Software Updates and Patching
- Data Backup
- Secure Access Controls
- Endpoint Protection
- Vulnerability Assessments and Penetration Testing
Time to Combat Cyber Scams? Contact Adept IT Solutions Today
As we have discovered throughout this blog, the presence of cyber scams is not slowing down, and continues to have a significant impact on Australian businesses. If you are an Australian business, Adept IT Solutions can provide significant improvements to the overall safety and productivity of your IT systems. With an extensive list of available services, as well as a dedicated and professional IT support team ready and willing to assist with all your IT needs, Adept IT Solutions is the best bet to combat cybercriminals.
Based at our local office in Cameron Park, and providing IT support services to local businesses in Newcastle, as well as the Central Coast, Hunter, Sydney and beyond, Adept IT Solutions has reliably assisted many Australian businesses.
Contact us today, and take the first step towards a safe, secure, and productive IT system within your business. To get in touch, you can reach us at 1300 423 378 (ADEPT) or email us at info@adept-it.com.au.
