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The last 40 days witnessed six cyberattacks in some of Australia’s most prominent institutions, including big names like Medibank and Optus.
The attacks have come from various sources, including nation-states, hacktivists, and organised crime groups.
The Australian Signals Directorate (ASD) has released a report outlining the various attacks launched against Australian businesses in recent months. The report also advises how companies can protect themselves from these attacks.
Claire O’Neil, Australian Cyber Security Minister, said: “I have been in constant contact with the company and insisted the government had provided the necessary resources to tackle the breach.”
“The latest advice from Medibank is deeply concerning … the government recognises that this incident is very stressful for affected Australians,” she said.
“The toughest and smartest people in the government are working directly with Medibank to try to ensure that this horrendous criminal act does not turn into what could be irreparable harm to some Australian citizens.”
According to ASD, the most common type of attack is ransomware. This malware encrypts data on a victim’s computer, making it inaccessible to the user. The attacker then demands a ransom payment to decrypt the data.
Other common attacks include phishing and spearphishing. Phishing is an attack where attackers send fraudulent emails to unsuspecting victims to steal their login credentials or install malware on their computers. Spearphishing is a type of phishing that targets individuals or organisations explicitly instead of general users.
The ASD report offers several recommendations for businesses to protect themselves from these attacks.
Despite ASD’s recommendations, many businesses are still not doing enough to protect themselves from cyber-attacks. This is evident from the fact that the number of cyber attacks is rising. In 2017, there were 1,368 recorded cyber incidents, a 37% increase from 2016.
Cyber security has to be the top priority for all businesses, regardless of size or industry. Failing to do so could result in severe consequences, such as data breaches, financial losses, and reputational damage.
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