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.


 

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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