The Australian Signals Directorate (ASD) has released its fifth Annual Cyber Threat Report.
The report found over 87,400 cybercrime reports were submitted to ASD in 2023–24, a decrease of 7% when compared to the previous financial year. This is an average of one report every 6 minutes. The top 3 cybercrimes reported by individuals included identity fraud, online shopping fraud, and online banking fraud.
Cybercrime also continued to significantly impact Australian businesses, with the average cost of cybercrime to businesses decreasing by 8% compared to the previous financial year. Per cybercrime report, small businesses experienced an average financial loss of $49,600, while cybercrimes cost medium businesses an average of $62,800, and large businesses $63,600.
The figures released in the Annual Cyber Threat Report highlight the need for every Australian to be proactive and take action to improve their cyber security. We recommend all Australians read the latest Annual Cyber Threat Report and learn the basics of cyber security on cyber.gov.au. Access key findings from the report and practical guidance to improve your cyber security by downloading the Annual Cyber Threat Report factsheets.
If you need help responding to or recovering from a cyber incident, ASD’s ACSC can help. Make sure to report cyber threats and incidents early and often at cyber.gov.au/report or call 1300 292 371 (1300 CYBER1).
You can also get advice and guidance delivered to your inbox by joining ASD’s Cyber Security Partnership Program.