MailGuard Partners Blog

Ransomware attacks are impacting businesses every 11 seconds. That’s a staggering statistic for a threat that is all too real and wreaking havoc on companies' longevity, operations, and reputation. In Australia, the ACSC observed a 15% increase in ransomware attacks in the last year alone, whilst globally, losses from ransomware are projected to reach $US20 billion. This unfortunate global trend has called for urgent action from both the public and private sectors as we work together to combat this ominous threat.  

As part of the 18th Annual Cyber Security Awareness Month this October, with the theme, 'Do your part, #BeCyberSmart', the National Cyber Security Alliance has provided the following valuable information. Share this with customers and their teams as a reminder of some best practice tips for recognising phishing threats. 

Cybersecurity threats are at an all-time high and expected to intensify as we head into a new world of work, with a greater reliance on technology. Now, more than any other time in history, businesses need to have implemented, at the very least, baseline security measures, in order to be protected. As we near the end of 2021, and as our customers start gearing up for a more cyber resilient 2022, it can only be of benefit to review baseline cyber threat mitigation strategies to ensure we’re running a tight ship. 

The spectre of cybercrime continues to loom large over businesses globally. The Australian Cyber Security Centre (ACSC) released its Annual Cyber Threat Report in September, offering comprehensive, yet alarming, insights into the threat landscape facing Australian businesses. As a trusted advisor to your customers, it’s a must read for MailGuard partners. We share some highlights below, and a link to the full report.

As we pulled the curtain on 2020, counting our losses from events that none had foreseen, with global geopolitical tensions rising, and in the wake of a global health emergency the likes of which we had never experienced, in COVID-19. It forced workforces across the globe to shift to hybrid or remote working and reflected in the IC3 2020 report summarizing the impact on U.S. citizens from cybercrime, citing “a record number of complaints from the American public in 2020: 791,790, with reported losses exceeding $4.1 billion.” Saying “This represents a 69% increase in total complaints from 2019. Business E-mail Compromise (BEC) schemes continued to be the costliest: 19,369 complaints with an adjusted loss of approximately $1.8 billion. Phishing scams were also prominent: 241,342 complaints, with adjusted losses of over $54 million. The number of ransomware incidents also continues to rise, with 2,474 incidents reported in 2020.”

In line with its’ commitment to continually improve and enhance the functionality and user-experience of its products and services, MailGuard has now enabled End-User Quarantine Access in its Management Console.

In 2020, Australians lost over $850 million to scams. A new report by the Australian Competition & Consumer Commission found phishing was the most reported type of scam across the country, rising to “unprecedented levels” in comparison to 2019. “Phishing activity thrived during the pandemic. Over 44,000 reports were received, representing a 75% increase,” the report stated.  

Since the early days of the internet, when Nigerian Prince scams started appearing, email has been exploited by hackers and criminals.

Data from FBI reports shows that email-based attacks like CEO fraud and phishing are now the most costly cybercrime categories.

“I have antivirus software installed but I’m still getting scam emails!”

Does that sound familiar?

Spam, phishing, criminal intent emails... inboxes are still the most useful tool for cybercriminals to steal sensitive data and access computer networks. Most companies use antivirus software of some sort but antivirus doesn’t stop new threats or advanced malicious-email attacks.