ANZ warns SMEs to stay scam aware as cyber fraud surges

According to the Australian Signals Directorate’s Cyber Threat Trends report, BEC scams accounted for 13% of all reported cybercrime in 2024, costing Australian businesses more than $84 million. The average cost of a cybercrime incident has risen 8% over the past year, with small businesses losing an average of $49,000 annually.