Latest Australian Cyber Report Released

Latest Australian Cyber Report Released

20 September 2021

The Australian Cyber Security Centre (ACSC) has just released their latest report on cyber crime in Australia - The Annual Cyber Threat Report 2020-21.

Following are some of the areas that Austral Risk Services believes are important stats for business owners. At the outset, it is important to note that these statistics are based on reported cyber crimes. The ACSC believes there are many more unreported events.

Cyber Crime Stats

  • Over 67,500 cybercrime reports, an increase of nearly 13 per cent from the previous financial year.
  • Self-reported losses from cybercrime total more than $33 billion.
  • Approximately one quarter of reported cyber security incidents affected entities associated with Australia's critical infrastructure.
  • Over 1,500 cybercrime reports per month of malicious cyber activity related to the coronavirus pandemic (approximately 4 per day).
  • Nearly 500 ransomware cybercrime reports, an increase of nearly 15 per cent from the previous financial year.
  • An increase in the average severity and impact of reported cyber security incidents, with nearly half categorised as 'substantial'.

Average Cyber Cost to Businesses

For businesses, the average cost of a cyber incident was: 

  • $8,899 per incident for a small business
  • $33,442 per incident for a medium business
  • $19,306 per incident for a large business (perhaps this lower figure is due to increased internal resources to counter cyber attacks)

Business email compromise

Business email compromise is a critical vulnerability for a business. One email, if successful and acted upon by an unsuspecting employee, can end up costing a company on average $50,673. Keeping your employees aware of cyber threats and developing an internal email policy makes good business sense. There are also excellent resources on the ACSC website.

Small and Medium Business Cyber Threat Resources
Large Business Cyber Threat Resources

Full report

You can read the whole report here https://www.cyber.gov.au/acsc/view-all-content/publications/acsc-annual-cyber-threat-report-2020-21

How vulnerable is your business to a cyber attack? Take our free cyber risk survey here.

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