MailGuard Blog

Why are some business owners still not paying attention and underestimating a real business risk? A staggering 80% of Australian companies believe their cybersecurity investments are ‘failing’.

“In a year already marred by natural and biological crises, cybersecurity failures remain a critical threat. 

Tax refunds supposedly from national taxation bodies. Requests to verify accounts from well-known banks via a link. Attachments containing delayed invoices from suppliers. 

“I am a hacker who has access to your operating system. I also have full access to your account. I’ve been watching you for a few months now. The fact is that you were impacted with malware through an adult site that you visited.”

In its report to Parliament in March, the Australian Cyber Security Centre (ACSC) stated that “Commonwealth entities continue to improve their cyber security; however, ongoing effort is required to maintain the currency and effectiveness of cyber security measures.

It’s been several weeks since many companies (mine included) implemented a remote working policy to keep our employees safe in light of the evolving COVID-19 situation.

As the COVID-19 crisis continues to unfold, new reports showcasing the good, bad and ugly side of tech continue to emerge every day. The world applauded when mobile device monitoring was enlisted to enforce self-isolation, but it was also horrifying to see cybercriminals setting up fake websites offering fraudulent Coronavirus vaccines.  

Recently, we have seen a surge in cyber-attacks that are capitalising on fears around COVID-19, like this scam intercepted by my team at the end of February, and wider media reports like this one with cybercriminals creating thousands of illegitimate Coronavirus-related websites on a daily basis. 

On March 11, the World Health Organization declared COVID-19 a pandemic. Two weeks on, and we are seeing technology at its best and worst. Technology is all around us, and as business leaders and tech partners, we understand its power – for good and evil. Here’s a quick look at just a few of the ways that tech is being enlisted during the current crisis.

This week has been a challenging time of transition, not just for our team at MailGuard but for many organisations around the world. Implementing social distancing, switching to a remote workspace, modifying our regular routines and trying to create new health and hygiene habits can really take a toll on our mental health.

As many of you know by now, logistics giant Toll Group was in the news last week after they were hit by a ransomware attack called Mailto. This attack is usually delivered via an infected email, that was most likely clicked on by an unsuspecting employee which then infects systems running on Microsoft Windows, encrypting files and leaving a ransom note on-screen. The note says that the only way to get the files back is by paying a ransom in Bitcoin.  

Like many of you, I read the news that Toll Group confirmed that it is the victim of a “targeted ransomware attack.”

It might be your CFO, reviewing transactions for the monthly executive payroll.  

Imagine a company with the most experienced cybersecurity team, and the best software and hardware defences. You’d probably think that this organisation won’t ever find itself on the end of a devastating cyber-attack, right? 

I was going to begin this blog by posing a question to CEOs about ‘How high cybersecurity is on your list of priorities?’