2024 in review
10 December 2024AUSVEG election priorities: Commitments needed to sustain vegetable production and food security
15 November 2024
As scams continue to rise across Australia, staying informed and vigilant is crucial to protect your business from potential fraud. Scammers are becoming increasingly sophisticated, often impersonating legitimate organisations or using convincing tactics to deceive businesses. Here are key types of scams and tips to safeguard your business:
Top four scams targeting businesses in:
Australia:
- Investment: Criminals mimic legitimate investment firms, promising high returns with low risk to steal your money.
- Romance: Scammers use romance, dating or friendship to get your trust and your money.
- Phishing emails/ Calls: Fake messages claiming to be from banks, the Australian Taxation Office (ATO), or suppliers, requesting sensitive information or payment.
- False billing/ Invoices: Fraudulent invoices for goods or services you didn’t order, often disguised as being from well-known companies.
Agriculture:
- Marketplace/ Classified: Scammers pose as sellers for farm machinery on online marketplaces (Be sure to inspect products before payment, and be wary about paying a deposit to secure a sale).
- Online shopping: Scammers set up stores that look real, or establish fake profiles to sell bogus farm equipment.
- False billing/ Invoices: Fraudulent invoices for goods or services you didn’t order, often disguised as being from well-known companies.
- Jobs & employment: Be cautious of job offers that require upfront payment, as they may be scams aiming to steal your money and personal information.
* Tables from the ScamWatch website: https://www.scamwatch.gov.au/research-and-resources/scam-statistics
Tips to protect your business
- Verify before you pay: Always confirm payment requests directly with the supplier or sender via official contact channels on their website.
- Educate your team: Train employees to spot phishing emails and fraudulent activities.
- Secure your systems: Use strong passwords, two-factor authentication, and regularly update your cybersecurity measures.
- Monitor financial transactions: Keep an eye on your accounts for any unusual activity.
- Register for scam alerts: Stay updated by subscribing to alerts from Scamwatch.
STOP
CHECK
PROTECT
What to do if you suspect a scam
- Do not engage: Stop communication with the scammer immediately.
- Report it: Notify the ACCC’s Scamwatch who also advise on actions to take if you have been scammed.
- Seek support: If financial loss occurs, contact your bank and the police.
- Inform others: Sharing your experience can help other businesses avoid similar traps.
Your vigilance and quick action can make all the difference in protecting your business.
Mandatory Ransomware Payment Reporting is Now LawUnder the new Cyber Security Act, applicable businesses that are extorted into paying a ransom must report it to the Department of Home Affairs and the Australian Signals Directorate (ASD) within 72 hours.The penalties are serious: businesses that fail to meet their reporting obligations could face fines of up to $94,000.
This law aims to bring transparency to a growing issue while holding organisations accountable for their response to cyber threats. Time will tell how this shift impacts businesses and our broader cyber security landscape. |
MANDATORY RANSOMWARE REPORTING FACTSHEET
For more information, contact AUSVEG General Manager Public Affairs and Communications Lucy Gregg at lucy.gregg@ausveg.com.au, or 03 9882 0277.