• Latest
  • Trending
  • All
  • Industry
  • Compliance
  • Global Trade
  • Industry
  • Sustainability & Ethics
  • Video
  • Security & Risk
Financial data charts displayed on multiple monitors, reflecting a surge in cybercrime. - Supply Chain News

Surge in Cybercrime Reports in Australia, According to ACSC Annual Threat Report

11/03/2022
U.S. Considers Raising Tariffs on India Amid Concerns Over Energy Trade Practices

U.S. Considers Raising Tariffs on India Amid Concerns Over Energy Trade Practices

08/05/2025
Marcos Reviews Proposal to Adjust Rice Tariffs and Import Policy

Marcos Reviews Proposal to Adjust Rice Tariffs and Import Policy

08/05/2025
U.S. Adjusts Start Date for Tariff Implementation to August 7

U.S. Adjusts Start Date for Tariff Implementation to August 7

08/05/2025
Analysts Weigh Impact of Recent U.S. Tariff Policies on Global Trade

Analysts Weigh Impact of Recent U.S. Tariff Policies on Global Trade

08/05/2025
Philippine Lawmakers Seek to Revoke Executive Authority Over Rice Tariffs

Philippine Lawmakers Seek to Revoke Executive Authority Over Rice Tariffs

08/05/2025
Businesspeople shaking hands, symbolizing a trade agreement or negotiation impacted by increased tariffs. - Supply Chain News

U.S. Increases Tariffs on Select Canadian Imports to 35 Percent

08/01/2025
Trump Administration Sets New Tariffs to Begin in One Week

Trump Administration Sets New Tariffs to Begin in One Week

08/01/2025
New U.S. Tariff Measures Reshape Trade Terms with Canada and Other Key Partners

New U.S. Tariff Measures Reshape Trade Terms with Canada and Other Key Partners

08/01/2025
United States Revises Import Tariffs on Canadian Goods to 35%

United States Revises Import Tariffs on Canadian Goods to 35%

08/01/2025
U.S. Raises Tariffs on Canadian Imports from 25% to 35% Under Executive Order

U.S. Raises Tariffs on Canadian Imports from 25% to 35% Under Executive Order

08/01/2025
Professional Logistics Network Inc. Nominated for Go Global Awards 2025

Professional Logistics Network Inc. Elevates Global Freight Forwarding with Next-Gen Digital Alliance

07/31/2025
Zoni American High School Nominated for Go Global Awards 2025

Zoni American High School Expands Global Opportunities Through U.S.-Based, Student-Centered Education

07/31/2025
supplychainreport
Wednesday, August 6, 2025
  • Home
  • Industry
    • Supply Chain
    • Logistics & Transportation
    • Importing & Exporting
    • Manufacturing
    • Warehousing & Distribution
  • Compliance
    • Supply Chain Transparency
    • Anti-Money Laundering (AML)
    • Know Your Customer (KYC)
    • Risk Management
    • Export Controls
    • Sanctions
  • Global Trade
    • Market Trends
    • Economic Indicators
    • Sourcing
    • Trade Policies
    • International Relations
    • Trade Agreements
    • Tariffs & Duties
    • Import/Export Statistics
  • Luxury Goods
  • Industry
    • Blockchain in Supply Chain
    • Importing & Exporting
    • Automation & Robotics
    • Artificial Intelligence in Trade
    • Data & Analytics
  • Sustainability & Ethics
    • Green Supply Chains
    • Sustainable Logistics
    • Ethical Sourcing
    • Corporate Social Responsibility
    • Environmental Policies
  • Security & Risk
    • Cybersecurity in Trade
    • Fraud & Scams
    • Risk Mitigation
    • Security Protocols
    • Data Protection
  • ITC News
    • ITC Featured Members
    • ITC Business Councils Highlights
  • Events
    • Upcoming Conferences
    • Upcoming FREE Educational Webinars
No Result
View All Result
supplychainreport
No Result
View All Result

Surge in Cybercrime Reports in Australia, According to ACSC Annual Threat Report

by Richie
11/03/2022
in Cybersecurity in Trade, Security & Risk

The Australian Cyber Security Centre (ACSC) has released its third annual threat report, indicating a significant increase in cybercrime incidents across Australia. The report shows that over the last financial year, the ACSC received more than 76,000 cybercrime reports, marking a 13% rise from the previous year. This frequency equates to a cybercrime report every seven minutes, an uptick from the prior rate of one every eight minutes.

This increase comes against the backdrop of several high-profile data breaches, including cyber attacks on major entities such as Optus and Medibank, which have exposed the personal data of millions of Australians. However, the ACSC notes that the actual scale of cybercrime is likely larger, as many attacks remain unreported.

YOU MAY ALSO LIKE

Merchant International Systems Ltd Nominated for 2025 Go Global Awards in London

Merchant International Systems Limited Recognized for Excellence in Safety and Technology Solutions

The head of ACSC, Abigail Bradshaw, highlighted the growing sophistication in cybercriminal activities. She pointed out the commercialization of malicious malware, cybercrime tools, and the weaponization and monetization of sensitive stolen data by criminal gangs. Bradshaw expressed particular concern over the rapid exploitation of critical software vulnerabilities by criminal groups and hostile states, noting that some vulnerabilities are now being exploited within days or hours, a significant acceleration from the past.

The ACSC’s report also sheds light on two serious cyber attacks that led to extensive compromises of critical infrastructure, a federal government agency, or government shared services. Details of these incidents, however, were not disclosed in the report.

There has been a notable rise in ransomware attacks, with businesses reporting a significant increase in incidents where personal information of Australians is released as part of extortion tactics. The ACSC responded to 135 ransomware incidents last financial year, which is a 75% increase from the previous year.

The financial impact of cybercrime on Australian businesses has also escalated. The average cost of each cybercrime incident reported has risen to nearly $40,000 for small businesses, about $88,000 for medium businesses, and over $62,000 for large businesses. In addition to direct financial losses, the report highlights the prevalence of business email compromise scams, which have led to significant financial damages, with some businesses in Western Australia incurring losses exceeding $1 million.

Bradshaw also commented on the international dimensions of cybercrime, noting the use of cyber warfare in Russia’s invasion of Ukraine and the mobilization of online criminal gangs to target Ukrainian government entities. This trend represents a notable integration of cyber and conventional warfare. The report also observes that various criminal and independent groups have conducted cyber activities supporting Russian or Ukrainian interests, independent of their respective government commands.

Earlier this year, the ACSC had issued warnings to Australian organizations to be vigilant against potential cyber attacks from Russian-aligned cyber groups, especially following Australia’s support to Ukraine. However, the report does not specify instances of Russian groups targeting Australian businesses or government entities directly.

Discover comprehensive supply chain report news insights at The Supply Chain Report. For international trade resources, visit ADAMftd.com.

#ACSCReport #CyberCrimeRise #AustralianCyberSecurity #RansomwareAttacks #CyberCrimeCosts #OptusMedibankBreaches #CyberSecurityThreats #CriticalInfrastructureCompromise #CyberWarfare #MalwareMonetization #BusinessEmailScams #CyberAttackExploitation #CybercrimeStatistics #CyberSecurityAwareness #DigitalSecurityChallenges #RussiaUkraineCyberConflict

ShareTweet

Subscribe Our Newsletter

Share Your News

Whether it’s a groundbreaking achievement, a heartwarming tale, or an insightful perspective, we want to hear it. Share your news with us, and let’s amplify your voice in the digital symphony of stories.

Submit

A man is riding a bike on a hill.

The Supply Chain Report is your essential daily news website, serving as a trusted source for comprehensive coverage of the complex and ever-evolving global supply chain dynamics. Our expert team delves into the intricacies of international trade, manufacturing, logistics, importing, exporting, and supply chain management; providing in-depth analysis and up-to-date news on the latest trends, disruptions, and technological advancements affecting industries worldwide. From detailed reports on international trade through to insights into procurement strategies and inventory management, we offer valuable content that helps professionals stay informed and make knowledgeable decisions in a fast-paced market.

Each day, we bring you cutting-edge news and expert commentary that dissect significant international trade and supply chain issues Our coverage spans a wide array of sectors including manufacturing, retail, healthcare, food, consumer goods, and technology, ensuring that no matter your field, you have the strategic information needed to navigate the challenges and opportunities of today’s supply chain landscape. By synthesizing complex data and presenting actionable insights, The Supply Chain Report empowers business leaders, policymakers, and logistics professionals to optimize their operations and drive forward with confidence in an interconnected world.

Connect With Us

  • About
  • Events
  • Privacy Policy
  • Contact Us

© 2024 International Centre for Trade Transparency Limited. Incorporated in the United Kingdom.

No Result
View All Result
  • Home
  • Industry
    • Supply Chain
    • Logistics & Transportation
    • Importing & Exporting
    • Manufacturing
    • Warehousing & Distribution
  • Compliance
    • Supply Chain Transparency
    • Anti-Money Laundering (AML)
    • Know Your Customer (KYC)
    • Risk Management
    • Export Controls
    • Sanctions
  • Global Trade
    • Market Trends
    • Economic Indicators
    • Sourcing
    • Trade Policies
    • International Relations
    • Trade Agreements
    • Tariffs & Duties
    • Import/Export Statistics
  • Luxury Goods
  • Industry
    • Blockchain in Supply Chain
    • Importing & Exporting
    • Automation & Robotics
    • Artificial Intelligence in Trade
    • Data & Analytics
  • Sustainability & Ethics
    • Green Supply Chains
    • Sustainable Logistics
    • Ethical Sourcing
    • Corporate Social Responsibility
    • Environmental Policies
  • Security & Risk
    • Cybersecurity in Trade
    • Fraud & Scams
    • Risk Mitigation
    • Security Protocols
    • Data Protection
  • ITC News
    • ITC Featured Members
    • ITC Business Councils Highlights
  • Events
    • Upcoming Conferences
    • Upcoming FREE Educational Webinars

© 2024 International Centre for Trade Transparency Limited. Incorporated in the United Kingdom.