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Cases of cyber-attacks in Australia have recently ballooned with a whopping increase of 13 per cent. The report is equal to 76,000 in one year.
Australian Signals Directorate’s Australian Cyber Security Centre has lately been receiving a surge of cybercrime reports this fiscal year 2021 to 2022. The annual cyber threat report they published on Friday notifies people about cyberspace. They describe the current status of the online realm as a “battleground” and is “increasingly the domain of warfare.”
Businesses are the primary target of these threats. As a result, business owners are in the dilemma of losing an average of $39,000 for small businesses and $62,000 for large businesses, a 14 per cent increase from the previous record.
27 % of the total cybercrimes recorded are fraud, 14% occur in online shopping, and 13% are from banking-related transactions.
ASD’s report stated, “In 2021-22, ransomware groups stole and released the personal information of hundreds of thousands of Australians as part of their extortion tactics.”
While ransomware accounted for a minor portion of the total (less than 1%), the report states that it remains the most devastating cybercrime threat since firms face disruptions and reputational harm if stolen data is leaked or sold as threatened. The general population may likewise be adversely affected.
The report covers the time before millions of Australians were affected by the Optus and Medibank Private breaches. However, ACSC Director Abigail Bradshaw alluded to growing public anxiety about significant cybercrime.
“We know cyber threats are constantly evolving and putting our critical infrastructure sectors at even greater risk, so we must share our understanding of this threat environment.”
“There has been a 25% increase in those critical vulnerabilities in the last financial year – and many of those are being exploited now within hours, or days, as opposed to weeks.”
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