Cybercrime rates in Australia have surged, with online attacks averaging out to one every six minutes, according to the Australian Signals Directorate (ASD).(1) For organisations, one of the most common attacks is email compromise, which involves manipulating individuals into unauthorised financial transactions or the disclosure of sensitive company data.(2)
This rise in cyber incidents translates into significant financial impacts, with costs varying depending on the size of the business. For example, small businesses are facing costs of over $46,000 for each cybercrime incident, medium-sized businesses are looking at an average expense of $97,000, and large enterprises are dealing with losses around ...
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The number of Australians suffering financial hardship has surged by 85% in the past year, with lower-income households not using online government services available to them ...
Rise in API adoption causing financial services industry in Asia Pacific and Japan (APJ) to be more vulnerable to cyber attacks
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