Australian Cyber Security Report Analysis 2022: Rising Cybercrimes

The 'Australian Cyber Security Centre (ACSC)’ annual cyber security report was released on the 4th of November 2022 and showed interesting statistics from last year. You telling your story online can make all the difference.

Cybercrime has been steadily on the rise when compared to the previous years with only 956 reported cases being responded to by the 'ACSC' back in 2019.  2020 had 1,079 cases being responded to, and 2022 reported cybercrime reached 1,205 cases being responded to by the ‘ACSC’.  Out of the 3240 cases being responded to, 218 arrests were made on individuals responsible for those reported cyber incidents, however, no convictions were ever made on those arrested individuals.

For 2022, cybercrime being reported rose to 13% when compared to 2021 with 76,000 reports being made and ‘ACSC’ responding to over 1,100 cases. In the released report, ‘ACSC’ claimed that medium-sized companies reporting a cybercrime averaged a loss of $88,000 for every report that is made and responded to by the 'ACSC' due to fines to pay for compromises. Small companies average $39,000 while larger companies/corporations will lose $62,000 for every report.

As of now, there are over 150,000 Australian offices and businesses not up to date with the ‘Essential Eight’ of Cyber Security and are flagged for vulnerability to cybercrime if not reviewed and managed. The ‘Essential Eight’ is a must-have for all office homes and business owners to review and have as it helps companies maintain a secure infrastructure. For example, the ‘Essential Eight’ includes the management of keeping software and devices up to date with newly released patch management, secure and advanced passwords containing 12 characters, and email security as surprisingly  Australian businesses this year suffered are still experiencing compromises  with a total loss of $98 million due to hacked emails being sent out and received by workers and clients according to the ‘ACSC’ report.

Awareness of cybercrime grows within the Australian community since the cyberattacks on ‘Optus’ and ‘Medibank’ that took place these past few months in Australia with companies and organisations being more prepared and regulated with the help of the Federal government. The Federal Government is looking to expand  the amendments of security in 2023, similar to the amendment of the ‘Security of Critical Infrastructure Act 2018’ now known as the ‘Security Legislation Amendment (Critical Infrastructure Protection) Act 2022‘ which introduced an improved infrastructure for businesses around Australia.

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This is Part of our Cyber Security awareness educational campaign. Through this training, you will learn awareness and key principles, and best practices to protect yourself, your organisation, and the public from cyber attackers. You will also be equipped with the knowledge to identify potential threats and take action before any damage can occur.