At G&C Mutual Bank, we aim to help our members stay safe from cybercrime. We have partnered with the Australian Cyber Security Centre (ACSC) to support Cyber Security Awareness Month, which runs throughout October.
The awareness campaign, Act now, stay secure, highlights the importance of updating your devices and software to help prevent cybercriminals from taking advantage of any weaknesses.
What can you do?
Most software will ask you to update when a new version is released. You should always do this when prompted.
The easiest way to stay on top of software updates is by turning on automatic updates. An automatic update is a ‘set and forget’ feature that updates your software as soon as it becomes available. This way you can relax knowing that you’re always using the most secure software version.
The ACSC has also produced the Personal Cyber Security Series and the How to Use the Internet Securely - A Guide for Seniors. These useful guides are available at cyber.gov.au, where you can also find easy-to-follow advice on how to update software on Microsoft, Apple and Android devices.
Why is cyber security important?
The ACSC Annual Cyber Threat Report 2020-2021 revealed that one cybercrime was reported to the ACSC every 8 minutes. During the 2020-2021 financial year the ACSC observed:
- Over 67,500 cybercrime reports, an increase of nearly 13 percent from the previous financial year.
- Self-reported losses from cybercrime total more than $33 billion.
- Over 1,500 cybercrime reports of malicious cyber activity related to the coronavirus pandemic (approximately four per day).
- More than 75 percent of pandemic-related cybercrime reports involved Australians losing money or personal information.
- Nearly 500 ransomware cybercrime reports, an increase of nearly 15 percent from the previous financial year.
- Fraud, online shopping scams and online banking scams were the top reported cybercrime types.
- An increase in the average severity and impact of reported cyber security incidents, with nearly half categorised as 'substantial'.
As we develop new ways of using technology in our lives and businesses, Australia will continue to experience significant cyber threats. Cyber Security Awareness Month helps to raise awareness of evolving scams and reminds us that:
- Cybercriminals often take advantage of topical situations, such as the COVID-19 pandemic, to benefit from vulnerable victims.
- Cyber actors socially engineer messages, or tailor their approach to conduct targeted or widespread campaigns such as COVID-19 phishing scams, superannuation scams, and online shopping scams.
- Scammers can engineer remote access scams to gain access to a computer, device or network to access personal accounts and information or install malware.
If you believe someone has gained access to your personal information, even if the scam appears unrelated to your finances, you should contact your bank immediately. A timely response can be critical in giving you the best chance to stem any loss.
- If you have concerns about your G&C Mutual Bank account, contact us on 1300 364 400.
- You can find out how scams work, how to protect yourself, what to do if you’ve been scammed or report a scam to the Australian Competition and Consumer Commission (ACCC) via the ACSC or the Scamwatch websites.
Further information about scams is available on our Security News page.