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Email Scams Cost Businesses Millions

Australian businesses lost over $60 million in 2018 because of cybercrime, according to reports to the ACCC and Australian Cybercrime Online Reporting Network. The most prevalent and damaging scams are being run by cybercriminals impersonating businesses and directing customers to pay into a rogue bank account. The scam involves hacking into email accounts and sending false invoices to customers or change of bank account information, all the while directing funds be paid into the scammer’s bank account instead of the business. Both small and large businesses have been targeted, and so have local sporting clubs and community groups. The consequences can be devastating. The figures are frighte

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