$31.9 Million Lost in Victoria to Business Email Compromise

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Cyber Security | IT Support | Managed IT Services

Cyber threats continue to rise

Business email compromises are a major issue right across Australia, but particularly in Victoria. In 2021, there were a total of 670 reported attacks resulting in 436 victims making a payment of some sort, which is well over 60%. The attackers technique redirects businesses legitimate money to the individual offender or syndicate accounts. This is a carefully planned out process, where attackers can wait weeks even months learning about the business and waiting for the right invoice to target. Access is usually made via keyloggers, phishing, email spoofing or resemblance and complete system compromise.

Many of these fraudsters use VPN’s (Virtual Private Networks), to cover their tracks. However, some VPN providers are helping Victorian Police to unmask these criminals. It is absolutely critical for businesses to maintain their IT infrastructure with solid cyber security. Strategies and processes must be put in place to actively counter threats and protect systems.

Please contact our team to discuss a cyber security set up for your business.

1300 245 575