The Australian Signals Directorate’s (ASD) Annual Cyber Threat Report for 2023-2024 provides critical insights that can help SMBs and NFPs understand the need to strengthen their cyber defenses.
The average cost of a cybercrime incident for small businesses has risen by 8% to $49,600 per reported incident.
Australians reported a cybercrime to authorities every six minutes during the survey period, highlighting the pervasive nature of cyber criminals.
Fraud remains the most common cybercrime targeting Australians, with over 87,000 reports made to the ASD in 2023-2024.