The past 12 – 18 months has seen a momentous increase in cyber activity. We’ve had an increased dependence on the internet – to work remotely, to access services and information, to communicate and to stay connected. This has increased the attack surface and generated more opportunities for malicious cyber-attacks to exploit vulnerable targets in Australia.
According to Scamwatch, Australians reported a record $211million in losses to scams so far this year, an 89 per cent increase compared to the same period last year. With scam victims more likely to report financial losses to their financial institution than anywhere else, and Bank transfer remaining the most common payment method used in scams, members need to remain aware of the new and more sophisticated scam methods.
In the lead up to one of the highest transaction periods of the year with significantly increased levels of online shopping expected, it will be critical for businesses and consumers to be hyper vigilant to scam activity and for us all to work together to recognise, report and ultimately prevent scams.
Watch this webinar to hear ACCC Scamwatch Director – Consumer Strategies & Engagement, Jayde Richmond joined in conversation with AFIA CEO, Diane Tate to discuss:
the evolution and sophistication of scams
scam activity and trends across financial services in 2021