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Cyberattacks and data breaches done by foreign scammers have become rampant in Australia, and businesses are highly affected.
According to Australia, cyberattacks by state-sponsored organisations from China, Russia, and Iran have increased considerably, with one attack occurring every seven minutes.
Prime Minister Anthony Albanese stated in a report released on Friday that the Australian Cyber Security Centre (ACSC) received 76,000 cybercrime reports last fiscal year, up 13% from the previous equivalent period.
“It’s a huge wake-up call, and companies need to get their act together…we need to do much better,” he said, adding that “The government has stepped up, the private sector needs to step up in the interest of their customers but also their interest,” said Albanese.
The Prime Minister emphasised that the cyberattacks are a huge wake-up call to the people, especially businesses. Lately, cyberspace has become a battleground because of these scammers. Each person has been losing an average of $64,000. Meanwhile, business losses attributed to cybercrime increased by 14 per cent on average, with the average incident costing a small business A$39,000 ($24,540).
Cyber attacks cost a medium-sized organisation $88,000. The average loss in Western Australia was $112,000, while the Northern Territory lost $26,000.
In response to the study, Cybersecurity Minister Clare O’Neil stated, “It’s not just about the frauds or the texts that you or I might receive, but real issues around the security of our country going forward.”
“It is a national security focus of the government.”
The FBI reported late in October that the Iranian cyber group Emennet Pasargad is conducting hack-and-leak operations, including hacking and data theft, as part of attempts to strengthen responses to Islamic Republic cyber threats. The Treasury Department sanctioned six Iranian officials and the corporation in November 2021 for their role in the planned cyberattack.
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