Cybercrimes have surged in Australia, with online attacks averaging out to one every six minutes.
The latest annual threat report from the Australian Signals Directorate has outlined some alarming facts about the new wave of cyber attacks against individuals and businesses.
About 94,000 cybercrimes were reported to law enforcement agencies in the past year, up 23 per cent since the year before.
The ASD reported that calls to its hotline have increased by 32 per cent.
And the cost of such crimes to Australian businesses has climbed by 14 per cent.
The most common cybercrimes targeting individuals include identity fraud, online banking fraud, and online shopping fraud.
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For businesses, one of the most common attacks is compromised emails, which involves tricking people into sending money or giving away company information.
More than 2000 victims suffered a loss of nearly $40,000 as a result of these scams.
The ASD pointed to China as the major culprit behind the surge of cybercrimes, saying foreign actors don’t just want to target governments for state secrets, but also to gain access to sensitive business information.
Hackers linked to Russia have also been identified as targeting Australia.
