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Cyber crime costs Australian economy $3.5 billion per year

Cyber attack
Cyber attack Source: Getty Images/imaginima

A new report warns ransomware attacks in Australia will become more common, and is urging government to develop clearer policies to prevent them.


Published

By Hashela Kumarawansa

Presented by Ricky Kusumo

Source: SBS



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A new report warns ransomware attacks in Australia will become more common, and is urging government to develop clearer policies to prevent them.


 

It's a threat you can't always see, but it's impact can be crippling.

 

Cyberattacks have affected numerous Australian organisations in the past 18 months, including Channel Nine [[Nine Network]] earlier this year, which disrupted broadcast operations.

 

Ransomware attacks are a form of malware designed to encrypt a victim’s files until a ransom is paid.

 

Government research shows cyber crime is costing the Australian economy about $3.5 billion a year.

 


 

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