Phishing and Scams

Scams cost consumers, businesses and the economy hundreds of millions of dollars each year. According to the ACCC (Australian Competition and Consumer Commission), Australians lost over $236 million to scams in 2021, and phishing was one of the most predominant types.

Scamwatch received reports of record levels of phishing scams in 2021, with 45,000 reports by August alone. Some of the most prevalent included:

• Investment scams that pressured victims into investing money before ceasing communications and blocking access to funds.
• Remote access scams that used urgency to convince victims to give access to their computers to solve a fabricated yet believable issue.
• Flubot malware scams that convinced victims to click a link to listen to voicemail or track a parcel in relation to a supposed missed delivery.
• Threat-based scams that impersonated government or law enforcement agencies to convince victims to divulge financial information.?

In 2022, phishing will continue to be the most common and highly effective method by which our businesses will be compromised, both in Australia and internationally.

The problem is that attacker techniques will continue to evolve, which will make phishing attempts increasingly difficult to detect.

We all need to remain vigilant - sustained and focused attention and education is vital.

When it comes to phishing scams, remember:

• 95% of all cyberattacks will start with an email.
• Never open files or click links in unsolicited or suspicious-looking emails.
• Never share personal information unless you’re certain the request is genuine.