Top five cyber crime types targeting Australians

The term “cybercrime” conjures up thoughts of a sinister individual in a hoodie working in a basement secretly. But, alas, this is not the case. Cybercrime is a well-organized, professional, and well-planned crime. Any crime committed with the aid of a computer or electronic equipment, primarily over the Internet, is referred to as cybercrime. As the Internet has opened up a variety of chances and possibilities for people to consume and obtain information as well as communicate, the impact of cybercrime has grown significantly, with cybercriminals benefiting from a larger attack surface. This is why there is a huge surge in the demand for Cyber Insurance.
The Australian Cyber Security Centre (ACSC) of the Australian Signals Directorate coordinates government efforts to strengthen cyber security. Cyber thieves continue to attack Australia, posing a threat to the country’s national security and economic development. Cyber thieves are becoming more well-resourced, and they are increasingly targeting some of our community’s most vulnerable citizens, our families and small companies, draining their bank accounts and steal sensitive information, specially those who do not have Cyber Insurance

The ACSC keeps track on cyber dangers around the world 24/7. This allows to quickly notify Australians about cyber security threats and provide instructions on how to respond. ReportCyber, the replacement of the Australian Cybercrime Online Reporting Network (ACORN), was launched on July 1, 2019.

Five most common cyber crimes affecting Australians –

Identity theft

Identity theft is one of the most common and serious crimes that Australians face each year. Cyber thieves aggressively strive to jeopardize the identity of their victims, which they then sell to other malicious actors or use to open bank accounts, register for credit cards, or make online purchases, fueled by lucrative dark web markets for stolen personal data.

Online romance scams are a prime illustration of how cyber thieves prey on the weak. Scammers will start online conversations with victims using popular dating apps and spend months, if not years, developing a ‘relationship’ with them. They begin making requests for money once they have established trust, which is usually for urgent medical difficulties or other unanticipated needs.

Wire-fraud and business email compromise

To move money into their accounts, cyber criminals take advantage of the trust that exists between businesses and their suppliers. This can happen as a result of a business email breach, in which the scammer gains access to the supplier’s email account and sends a bogus invoice with the scammers’ bank account information. Alternatively, the scammer may imitate a legal company by registering a business domain name online, or persuade the payroll or accounts department to modify an existing supplier’s bank details.

If you ever find yourself being engulfed in some sort of deceptive cyber issues, make sure to report cybercrime to ReportCyber which is the online reporting portal. It will enable your case to reach out to the expert directly. If there is any loss of money, contact your back. Also, recover your identity as soon as you find out there is any threat or any potential of it. eSafety Commissioner and Scamwatch can also help you report offensive or illegal online content.

Online fraud and shopping scams

Criminals gain financial benefit by deceit, most typically by constructing a webpage that mimics a well-known brand or retail site, or deceiving consumers into paying for products or services that are never delivered, in online fraud and shopping scams.

Extortion in bulk

Hundreds of victims are contacted every day by phone or email by cyber criminals who employ social engineering to persuade them into turning over money. There are a number of cases, especially with elder people, of how they got everything lost through bulk extortion.