Cybercriminals extend their reach: What can be done to stop them? | ALC Training News
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While we often associate cyber crime with hacking databases and causing computer-based havoc, a recent case with Australian Catholic University has shown the scope of the damage cyber criminals can cause.
The Australian Catholic University has revealed the sensitive personal information of staff members has been stolen in a cyber attack, in the second significant security breach revealed in a month to have occurred at one of the country’s tertiary institutions.
“In a very small number of cases, staff login credentials were obtained successfully via the phishing email and were used to access the email accounts, calendars and bank account details of affected staff members,” acting vice-chancellor Stephen Weller wrote.
The attack comes just weeks after a huge data breach at the Australian National University in which 19 years’ worth of staff and student personal data were stolen in a “sophisticated” cyber attack.
How can Australia protect itself?
Australia is set to face an onslaught of cyber crime over the next few years and this recent case solidifies the importance of keeping information secure.
In response to the Australian Government’s cyber security review, Cisco recently presented their own report on how they believe this issue should be addressed. The organisation stressed the importance of building a partnership between the government and public/private entities.
Through the creation of a national cyber security strategy, Cisco believes that cyber security threats can be minimised. The framework needs to include; a crack-down on the emergence and infection rates of malware, education and accountability practices for CEO and board members and reducing disruption of essential services. All Australians should be given the confidence to use the internet without becoming victims to cyber attacks.
With these measures, Australia can become a global leader in cyber security and build trust with overseas organisations that use our digital infrastructure. However, by not taking preventative measures, cyber crime will continue to be a huge financial burden on the economy. The Cyber Security Review, led by the Department of the Prime Minister and Cabinet, found that cyber crime is costing the Australian economy up to $1 billion annually in direct costs alone.
In 2018, Australians lost over AU$1 billion to cyber crime and 46 per cent of citizen were affected to some degree, according to the Department of Communications. Businesses leaders may need to undergo information security training to keep up with current threats and learn how to put in place measures to fight back.
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