Scam Losses Decline, but the Fight Isn’t Over – What Businesses Must Know
Australia’s war against cyber scams has made significant progress, with reported losses dropping by $700 million in 2024. However, with scammers constantly evolving their tactics, businesses and individuals must remain vigilant. The cyber threat landscape continues to shift, and despite stronger defences, total scam losses still exceeded $2 billion last year. At BCyber, we believe cybersecurity awareness and proactive defence strategies are the key to reducing these numbers even further. While government initiatives and private-sector collaborations are helping curb scams, businesses must play their part in strengthening cybersecurity defences. The Cyber Scam Epidemic – A Closer Look at the Numbers According to the latest report from the National Anti-Scam Centre, scam-related losses fell by 25% in 2024, dropping to $2.03