Australia Suffers Cybercrime Damages Worth $1bn Every Year - ACC

[Audrey McNeil <audrey () riskbasedsecurity com>]

http://www.spamfighter.com/News-19592-Australia-Suffers-Cybercrime-Damages-Worth-$1bn-Every-Year-ACC.htm

Cybercrime costs over $1 billion every year to Australia, and malware is
deemed as the biggest threat to the nation, said the ACC or (Australian
Crime Commission) recently, as per news published by
technologydecisions.com.au on April 22, 2015.

Statistics released by Australia's Internet regulatory body ACMA showcase
that in the time frame spanning (October 17, 2014 to January 14, 2015), at
an average 15,000 computers were compromised every day.

Unfortunately, cybercrime is getting endorsed on online criminal market
platforms as a service, and cyber attacks using tricks like social
engineering are getting increasingly advanced. For the next 5 years,
malware is predicted to be most threatening vector for Australia, the ACC
said.

The online threat to Australia from domestic and internationally organized
cybercrime groups is important and it's becoming increasingly complex,
remarked Tim Wellsmore, Manager, Crime Commission's Fusion Special
Intelligence (Cyber), as per news published by technologydecisions.com.au
on April 22, 2015.

Criminals might employ malware for disruption of Australian systems, or
observe the online movements of a victim, embezzle user IDs, passwords and
other private details, which is subsequently used for monetary gains. This
embraces ransomware, where a system or files on it are locked till a ransom
is paid, Wellsmore elaborated, as published crimecommission.gov.au on April
22, 2015.

The ACC is employing its exclusive powers and intelligence rapport to
discover, comprehend and prioritize the cybercrime hazards impacting
Australia, commencing and enhancing replies to them.

With more than 12.4 million Australian subscribers and 20.6 million
possessing mobiles with data connectivity, the requirement for safe
Internet behaviors is now more crucial than it was previously, Wellsmore
said.

Wellsmore's remarks come at a time when Julie Bishop, the country's Foreign
Minister suggested that although coming up with a global agreement on
online security would be nascent in stage, it would be good for all states
to assist in developing the Internet as a podium of economic activity,
published by ZDNet.com on April 22, 2015.

The effective running of critical infrastructure strengthens the
international economy, she said. States must avert and abstain from
Internet activity that damages or harms critical infrastructure, be it in
telecommunications, banking, or energy structures.

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