One Of Australia’s Richest Men Lost $1 Million In Email Scam

By   ISBuzz Team
Writer , Information Security Buzz | Dec 22, 2017 04:24 am PST

As a response to the story that One of Australia’s Richest Men Lost $1 Million in Email Scam, Steve Malone, Cyber Resilience Expert at the email and data security company Mimecast commented below.

Steve Malone, Cyber Resilience Expert at Mimecast:

isbuzz author male 1“The theft of $1million makes it loud and clear just how real and dangerous impersonation attacks are. According to the latest Mimecast ESRA figures, these attacks have risen by 50% in the last quarter alone, 7 times more often than missed email-borne malware.

Often overlooked by information security providers, impersonation attacks are an easy and effective way to gain trust through a combination of social engineering and technical means. The only way to remain safe is to be cyber resilient. Businesses must help employees with role-specific behavioural conditioning and smarter email security technologies, to ensure they are vigilant and well equipped to report unusual activity.”