According to the Australian Competition and Consumer Commission (ACCC), Australians lost a record amount of more than $2 billion to scams in 2021, despite government, law enforcement, and the private sector disrupting more scam activity than ever before.
Recognising scams is no easy task, and it's important that your employees understand the importance of their role in protecting your organisation from scams and other cyber security threats.
Let's look at common types of scams and some simple tips to ensure your employees are equipped to protect your business from scams.
What is a scam?
As defined by the Australian Cyber Security Centre (ACSC), online scams are "sophisticated messages, often using professional looking brands and logos to look like they come from a business you know. At first sight, this can make it difficult for you to know what is real and what is fake."
Scammers often use email, text messages, phone calls and social media, and their goal is to scam people into paying money or giving away their personal information.
Common types of Scams
- COVID-19 Related Scams
- Buying or Selling Scams
- Dating and Romance Scams
- Fake Charities
- Investment Scams
- Job and Employment Scams
- Threats and Extortion
- Unexpected Winnings
- and more...
You can learn more about the most common types of scams in Australia on the ACCC's Scamwatch website here.
Tips to equip your employees in the fight against scams
Tip 1 - Educate, Educate, Educate!
It is important that your employees understand the part they play in protecting your organisation and clients’ data. Unfortunately, scams are not only targeting personal information but business information and systems too. Therefore, ensuring your employees have the education and tools they need in order to identify and appropriately respond to scams is paramount.
Cyber security awareness training for all levels of employees (your human firewall) is every bit as important as the other means of protection, including software, hardware and physical security practices and ensures you and your employees:
- Are comprehensively aware of cyber threats, the associated risks, and how to minimise them.
- Understand the part everyone must play in protecting your organisation and client’s data.
- Can identify cyber threats such as scams and manage them appropriately.
- Understand how to handle personal information provided by clients and partners.
- Comply with the state and federal guidelines in regard to staff cyber and data protection awareness and education.
Read Now | How to Identify a Smishing Attack.
Tip 2 - Utilise free resources
The Australian Government and relevant bodies provide a range of fantastic resources to support both individuals and businesses in the fight against cyber security threats.
Scamwatch is run by the Australian Competition and Consumer Commission (ACCC) and provides information to consumers and small businesses about how to recognise, avoid and report scams. They produce a range of publications, reports and guidelines designed to assist consumers, small businesses and the industry in understanding and preventing harm from scams.
Helpful resources include:
Tip 3 - Stay up to date with current scams
Signing up to reputable sources of information is a simple way to ensure that your knowledge of current and emerging scam threats, such as the "Hi Mum" or COVID-19 Vaccination scams also stays current.
Scamwatch radar provides an email subscription service for email alerts on the latest scams, which you can then in turn share with your employees.
What to do if you think you've been scammed?
Unfortunately, if you've lost money to a scam or given out your personal details to a scammer, Scam Watch advises that you're unlikely to get your money back. However, there are steps you can take straight away to limit the damage and protect yourself from further loss.
- If the scam has targeted a business account, report your concern to your IT team or Technology Partner immediately.
- Regardless of if the scam has targeted your personal or business accounts or information, report the scam to the ACCC via the Report a scam page.
- Contact all relevant parties and let them know you have fallen victim to a scam, including family and friends and banking institutions if applicable.
- Change your online passwords immediately.
- Review the Scamwatch page on where to get further support.
How can Diamond IT support your Cyber Security?
If you want to educate your employees on how to identify potential cyber threats and maintain secure password hygiene, our staff education programs and policy and procedure reviews can help. Our Business Technology Consultants are specialists in improving your internal cyber security.
We offer:
- Cyber Security Health Check
- Cyber Security Awareness Training
- Cyber and Data Breach Consulting and Forensic Analysis
- Disaster Recovery (DR) Planning
If you need advice on how you can ensure your cyber security strategy is fit for purpose, our team of Cyber Security experts are ready to help. Contact our team on 1300 307 907 today.
