According to the Australian Signals Directorate (ASD), there has been a significant increase in cybersecurity threats, with a cybercrime being reported in Australia every six minutes.
The ASD’s annual Cyber Threat Report reveals that they received 94,000 reports of cybercrimes in the past year, a 23% increase from the previous year.
Business email compromises alone resulted in over 2000 victims experiencing an average financial loss of $39,000.
However, these statistics only represent reported cybercrimes, indicating that the actual situation is far more severe than what is being reported.