Cyber incidents continue to dominate global risks
The 3rd largest Global Business Risk as reported by Allianz in their latest report is cyber incidents. Only 4 years ago this risk was ranked 15th and has since dramatically increased, unsprisingly.
The sheer amount of phising emails and scams I receive each and every day is horrifying and this is why businesses and individuals are getting caught out every day by these sometimes obvious scams. However, as outlined in our own close call with a scam they are becoming more and more personal and tricky. This is why myself and Steven have written Mannings Guide to Cyber Security & Insurance as a free e-book for everyone to understand this risk, how to avoid it, as well as ensuring you have the right insurance in place should you get caught out.
WA Today reported that “At least $37.5 million was swindled by fraudsters using online scam methods in 2015 – and that’s just based on 41,000 reports that year to the Australian Competition and Consumer Commission.” This is something we at LMI Group have encountered and were lucky enough to not suffer financially, however it was quite the scare and a stressful experience for us. (You can read my article posted back in July 2016 here).
The ACCC have also released ‘The Little Black Book of Scams‘ to assist everyone in being able to spot these suspicious emails and to avoid them.