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Cyber attacks costing businesses billions

Cyber attacks on businesses are costing Australia $29 billion every year, with authorities taking a report every 10 minutes, officials say.

The average cost of a cyber attack has also hit $276,000 and has become one of the biggest concerns for local companies, a Business SA report has found.

Crime Stoppers communications and engagement director Adam Thomson said cyber criminals targeted all Australian states and territories equally.

“Some criminal enterprises operate their own call centres and there are incidents where criminals intercept legitimate invoices between a supplier and customer, change the bank details, then forward it back on to the customer for payment” Mr Thomson said.


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