Phishing and identity theft make top three most reported scams in 2018 with the ACCC reporting losses exceeding $489.7 million to Australian businesses.
There were a total of 24,291 phishing scams reported with losses of more than $930,000, making this the number one category reported in 2018, even after seeing a 7.9 per cent drop compared to 2017.
In third was identity theft with 12,888 reports totalling more than $1.4 million in losses. Identity theft reports have however seen a drop of 18.5 per cent.
The ramifications of having your identity taken can be catastrophic to your daily life.
Victims may be unable to obtain a new driver’s licence, get new bank accounts or any personal identification documents (like passports), which means the cycle of identity theft and recovery can continue over many years.
We are now seeing scammers adapting old scams to new technology, seeking payment through unusual methods and automating scam calls to increase their reach to potential victims.
In late 2018, many thousands of Australian households were hit with automated phone calls from scammers impersonating the ATO threatening arrest for unpaid taxes. Plus, a follow up email from MyGov, just for good measure.
Being proactive in developing a cybersecurity plan can be the difference in successfully defending a breach or losing millions to a harmful attack.
Protect your data, privacy and reputation, talk to a TCT sales team member today.
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