Doing business down at the local café or shopping centre may not be the wisest move, with Australians losing $48 million to scammers targeting free Wi-Fi hotspots.
In 2018 alone, Aussies lost about $48 million to financial scammers who targeted popular online shopping destinations and exploited weaknesses in free Wi-Fi to grab sensitive personal data.
The Australian Cyber Security Centre (ACSC) has launched “Stay Smart Online” week in a bid to educate Australian consumers about sophisticated scams that aim to hack into online banking and capture credit card details.
The ACSC estimates that about six million Australian adults have been impacted by a scam.
An increasingly common and sophisticated method for fraudsters is to pose as a popular online retailer — often with a “shopfront” that appears reputable and well known.
Free Wi-Fi, which often has lax security, is also a method scammers use to gain access to data of those who are using the network.
Australians often believe a scam will be obvious, but fraudsters are often using sophisticated graphics, technology and platforms. This is having a material impact on Australian consumers personally, and businesses in Australia more broadly.
“Cyber crime is a big problem in Australia and all over the world. The human and financial cost to businesses and society is rising every year,” the ACSC said in a statement today.
“It impacts our business[es], our families and friends, costing huge amounts of money, time and pain.”
Adam Zuchetti is the editor of My Business, and has steered the publication’s editorial direction since early 2016.