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.
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.
You can learn more about the most common types of scams in Australia on the ACCC's Scamwatch website here.
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:
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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.
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 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:
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.