News and Analysis

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Business email compromise fraud is growing faster than your profits are – 6 September 2018

The frequency of business email compromise (BEC) attacks is exploding as large financial returns continue to motivate cybercriminals to find new ways of exploiting human weaknesses. BEC volumes were up 80 percent quarter-on-quarter, according to the latest Mimecast Email Security Risk Assessment(ESRA), which analysed more than 142 million emails that had been cleared by potential customers’ incumbent email systems.

https://www.cso.com.au/article/646331/business-email-compromise-fraud-growing-faster-than-your-profits/

Australian Tax Office warns of new telephone scam that targets taxpayers – 5 September 2018

New scamming methods targeting taxpayers has the fraudsters initiating a three-way telephone conversation between the scammer, the victim, and another scammer impersonating the victim’s tax agent. During July and August the ATO received over 7000 scam reports, with close to $190,000 being paid to scammers and over 1600 people handed over their personal or financial information.

https://www.manningrivertimes.com.au/story/5628060/new-telephone-scam-targets-taxpayers/?cs=1467