Tag: Protection

Small Businesses Under Threat From Cyber Crime

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Cyber crime targets many important businesses including essential services, health, food and energy sectors. Cyber crime is serious as the results of cyber related incidents have led to loss of data, infrastructure and even harm to life. Cyber crime is affecting many businesses in 2021. With the shift to work-from-home,…

Australian Government Invests in Cyber Security

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In response to a number of apparently state-sponsored cyberattacks in June, the federal government has announced its largest ever investment in cyber security – with $1.35 billion of funding dedicated over the next ten years “My government’s record investment in our nation’s cyber security will help ensure we have the…

Australia to Inject $15 Billion into Fighting Cyber Attacks

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In response to recent cyber-attacks on government websites and private networks, the Australian Department of Defence has announced that it will release a $15 billion package to boost security measures. $1.35 billion of this money has been earmarked to recruit 500 spies who will guard against state-sponsored hackers. Prime Minister…

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,…

Data Reveals Widespread Cybercrime in Australia

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According to Australia’s online security watchdog, the country’s Cyber Security Centre receives reports of cybercrime every 10 minutes. Since July 2019, Australians have filed more than 13,500 reports of cybercrime to the Australian Cyber Security Centre (ACSC), the rough equivalent of one report every ten minutes. The number may actually…

Cyber Security Requires Expanded Access to Tech Skills

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Digitalisation opens up many possibilities throughout the economy, but also opens businesses up to new threats. Those in the professional services sector must be aware of the many avenues of attack that online operations allow. The most common of these include: > Phishing – where emails or websites are used to trick…

How a Change in Markets Will Affect Your PI Insurance

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For many years the accounting industry has been operating in a ‘soft market’ for professional indemnity (PI) insurance. In this market, insurance premiums are quite low with broad policy wordings (that’s good news for you). Now we are beginning to see the early signs of a shift towards a ‘hard…