ACCC reports rise in phishing scams

We’ve talked a lot in our previous news articles about the growing threat of cyber crime to businesses and individuals.

As they often arrive via email, ‘phishing’ scams can fall into this category.

The ACCC recently issued a warning for people to stay alert to phishing scammers – these are the type where scammers pretend to be from well-known businesses or government departments and try to trick unsuspecting victims into revealing personal information like bank details, passwords and credit card numbers.

The ACCC released the warning after Phishing Scams became the most commonly reported scam – 11,000 reported to Scamwatch already this year with nearly $260,000 lost.

Phishing scams generally arrive as an email or phone call and generally involve a request to update your customer information.

Delete any email or hang up on any phone call that you receive out of the blue that is asking for your personal information. Be wary also of clicking on links in emails, always copy and paste into your browser.

If you’re concerned about a particular phishing scam, you can report it the ACCC.

You can also visit the scamwatch website to read about recently reported scams.

And if you are concerned about the impact that scams like this could have on your business operations, phone MGIB to discuss Cyber Insurance cover.

Traditional insurance programs and risk management practices are evolving to keep pace with these emerging risks to your business.