Connect with us

Hi, what are you looking for?

News

Australia sees spike in cyberattacks from criminals and states

A man types on a computer keyboard in this illustration picture taken on Feb. 28, 2013. — REUTERS/KACPER PEMPEL/FILE PHOTO

SYDNEY — Cyberattacks against Australia from criminals and state-sponsored groups jumped last financial year, with a government report released on Friday equating the assault to one attack every seven minutes.

The Australian Cyber Security Centre (ACSC) received 76,000 cybercrime reports last financial year, up 13% from the previous period, according to its latest annual cyber threat report.

While just over half of attacks targeted individuals for fraud and theft, the report warned that state-sponsored attackers made cyberspace a “battleground” and cited attacks from China’s Ministry of State Security, Iran and Russian state-linked groups.

Multiple attacks against Australian essential services were thwarted over the period, including a November 2021 attack on government-owned utility CS Energy, responsible for a tenth of the nation’s electricity output.

“It’s a huge wakeup call and companies need to get their act together … we need to do much better,” Prime Minister Anthony Albanese said at a news conference on Friday.

“The government has stepped up, the private sector needs to step up in the interest of their customers but also their own interest.”

The ACSC, part of the intelligence-collecting Signals Directorate, reported 95 cyber incidents impacting critical infrastructure last fiscal year.

The third annual report covers the period before high-profile hacks at Australia’s second-largest telecoms company Optus, owned by Singapore Telecommunications Ltd., and its biggest health insurer Medibank Private Ltd., which combined compromised some 14 million customer accounts.

The report underscored accusations that the Optus and Medibank hacks were relatively unsophisticated, blaming the majority of major incidents on inadequate software updates.

Experts told Reuters last week a skills shortage is making it harder for Australia’s understaffed and overworked cybersecurity specialists to stop breaches.

Business losses attributable to cybercrime rose on average 14% over the period, with the average crime costing a small business A$39,000 ($24,540).

The jump in attacks and damage is making insurers wary and premiums in Australia jumped 56% year-on-year in the second

quarter, according to Marsh & McLennan Companies Inc. — Reuters

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

News

REUTERS SINGAPORE — Jollibee Foods Corp, the biggest fast-food operator in the Philippines, is in advanced discussions to sell a minority stake in its...

News

INDONESIAN lawmakers have passed a contentious criminal code that outlaws extramarital sex and raises penalties on abortions as part of legislation that sparked violent...

News

REUTERS MUNICH/BERLIN — Former Wirecard executives go on trial on Thursday, two years after the collapse of the payments company that produced Germany’s biggest...

News

PHILIPPINE STAR/ KRIZ JOHN ROSALES SEOUL — A nationwide strike by South Korean truckers has led nearly 100 petrol stations across the country to...

News

REUTERS WASHINGTON — Chinese hackers have stolen tens of millions of dollars worth of US COVID relief benefits since 2020, the Secret Service said...

News

GOLDEN STATUE at the Trocadero square near the Eiffel tower wears a protective mask during the outbreak of the coronavirus disease 2019 in Paris,...

You May Also Like

News

BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...

News

REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...

News

KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...

News

COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...

Disclaimer: Respect Investment.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.