Supply chain fraud is in the spotlight. A report from the Australian Competition and Consumer Commission (ACCC) showed a 1,174% increase in false invoices led to $8.6 million in losses last year. By taking control of a legitimate business’ online accounts or email, scammers send fake invoices to divert payment to their own bank accounts. […]
Two-thirds of Australian small-to-medium-sized enterprises (SME) go out of business after a cyber attack or data breach. That’s according to the latest figures from the Australian Small Business and Family Enterprise Ombudsman. Often, small business owners think they’re too small to be targeted, but they face the same threats as larger organisations. Six out of 10 […]
Cyber crime is the #1 risk for the nation’s businesses, with an incident reported every seven minutes on average to the Australian Cyber Security Centre (ACSC). To quantify those risks, a University of NSW book, Cybercrime in Australia: 20 years of inaction, estimates it cost the Australian economy $42 billion in 2021. As well, cyber risks […]
Cyber security is a top risk management concern for Australian businesses, with eight in 10 organisations hit by ransomware. And research shows small businesses are likely to have poor security practices due to common misconceptions about the threat. It is such a hot issue that the Federal Government appointed the first Minister for Cyber Security in a G20 […]
The term ‘metaverse’ was coined in 1992, as an online space combining virtual and physical worlds. And, the metaverse-like online multimedia platform, Second Life, which began in 2003, is still going, with almost 65 million active users. Meanwhile, Meta – formerly Facebook – maintains optimism that its version of the metaverse will be on the horizon in five to 10 years. It […]
Deepfakes can wreak havoc on your business reputation and expose you to fraud, identity theft, hoaxes, ridicule, harassment, and more, according to the eSafety Commissioner. So, what are deepfakes, and what can you do to combat them? Deepfakes: digital puppetry The term ‘deepfake’ was coined in 2017. It involves using artificial intelligence to replace a person’s […]
One of the biggest banes of agriculture isn’t unpredictable weather patterns of droughts and flooding rains, too few harvest workers, rising costs, or the shrinking prices grocery chains pay your business. It’s cyber threats. Cybersecurity is a significant and growing threat to the Australian agricultural industry. The sector was the sixth most likely to record a […]
