"It's not a matter of if, it's a matter of when." a sobering take-away from the cyber fraud presentation given by Chad Dickson from ANZ Bank.
Chad spoke to our team about Cyber Fraud today and the importance of being vigilant and aware as cyber criminals are becoming increasingly smarter in their approach.
Things like regularly changing passwords, activating two layers of security (two-factor authentication) and ensuring your software is kept up-to-date can help.
Simple things like NOT sharing log-on details or passwords is crucial.
Alarm bells should ring if you receive suspicious, unsolicited emails, telephone calls or SMS where you are asked to provide personal details, change passwords, make a change to supplier bank accounts or you are asked to make an unusual payment.
It is better to call (using contact details you already have) and confirm prior to making an irreversible transfer.
Cyber fraud not only costs you cold hard cash, it will disrupt your business, cause loss of information, reputation and emotional stress.
The Australian Criminal Intelligence Commission estimates that cyber crime is costing the Australian economy up to $1 billion annually in direct costs alone.
Don't be a victim, protect yourself and remain aware of the ways in which cyber criminals operate.