A recent attack on Australian food company JBS Foods has prompted the company to suspend operations in Australia. This latest incident highlights the growing threat posed by cyber criminals, who are increasingly using dark web services to increase their capabilities. The attack was a major setback for the company in Australia, but has made its victims pay the price. Ransomware has been the most common type of malware used in these attacks, with attackers focusing on infrastructure and services.
Because of poor cyber security controls, Australian technology businesses and consumers are increasingly vulnerable to attacks. A malicious actor may attack a business’s system using a mass phishing campaign or a targeted attack, but their efforts can be defeated if they can compromise its system. They are also likely to use the vulnerability of unpatched computer networks to take advantage of a weakened cybersecurity environment. These vulnerabilities allow a criminal to exploit Australia’s heightened vulnerability.
While Australia has experienced numerous incidents involving cybercrime, it remains vulnerable to ongoing cyber threats. Recently, the Australian Government and other critical infrastructures have been hit by ransomware. The attackers are targeting Australian organizations and businesses with targeted email compromise scams. A quarter of the attacks on critical infrastructures involved a state-based actor, making it harder for organizations to protect themselves. Despite its vulnerabilities, the country’s critical services are still in danger of being infiltrated.
The Australian Cyber Security Centre warns of an increase in ransomware and other attacks in Australia. The report lists the most common threats and reveals that cyber criminals have increased their focus on health institutions. This increased the threat of an attack on vital infrastructures. The report also warns of the escalation of the number of victims. Ultimately, the threat of ransomware is a major concern for the Australian Government and its people.
A new report indicates that the Australian government is struggling to defend itself against cyber-attacks. It also warns that this trend will continue in the coming years. The ACSC recommends that Australia establish a cybersecurity law that covers the entire nation. As a result, businesses should be aware of the risks associated with ransomware and malware. This attack is particularly damaging to Australian organizations because it targets their critical infrastructures. Further, it also aims to steal private information from the target.
While the government wants to protect Australian businesses from phishing and malware, the ACSC has to provide comprehensive cyber safety guidelines. Its website offers advice on how to secure email accounts, databases, and mobile services. Moreover, it aims to help Australian companies defend against these threats and safeguard their IT assets from being attacked by overseas nationals. The ACSC also reports that the country will suffer a massive loss of revenue because of the cybercrime.
The Australian government has shared the results of its security audit with the relevant state and federal privacy commissioners. Those responsible for cybercrime have also shared the findings with the ACSC. The report highlighted that 77 per cent of all reported cyber-security incidents in the 2020-21 financial year affected the country’s government. While there is no one sector of the economy which is completely immune to these attacks, this recent attack has revealed the increasing threat to Australians.
As the number of businesses is increasing, so is the complexity of the cybersecurity of these businesses. As a result, a significant proportion of these breaches are aimed at medium and large-sized businesses. However, despite the aforementioned risks, the overall amount of attacks is still low, and the amount of cybercrime in australia is not yet a concern for any organisation. The average loss per reported incident is $33 billion.
Ongoing cyber threats in australia are also prevalent in the country’s society. The Australian government recently reported a large number of attacks that have affected businesses and organizations in Australia. The government’s own parliament was hacked as well, affecting the nation’s critical infrastructure. The government’s security also faces a number of ongoing cyber attacks. The latest example was a hack of Microsoft Exchange. The attack affected the accounting and defence sectors.