Email Week – Business Email Compromise

This Email Week take a look at your email security.
Why? It could cost you in money (fraud), time and reputational damage!

The Australian Cyber Security Centre says: self-reported losses for business email compromise at $81.45 million for the 2020-21 financial year. In some cases however, you may not realise that your email account has been compromised until one of your contacts flags suspicious emails coming from your account.

ATO Small Business Newsroom says: Cybercriminals are targeting small businesses with business email compromise scams. They send fraudulent emails posing as a legitimate business contact or staff member.
They typically request a change in bank account details for a deposit, wages or invoice payment. Victims then unknowingly send money to the cybercriminal.

What can you do? There are plenty of resources to reduce risk or what to do if you do end up a victim.
https://www.cyber.gov.au/emailsecurity
https://business.gov.au/news/have-you-been-hacked