Intelligent CISO Issue 35 | Page 9

Australians lost a record A $ 176 million from 216,000 scams in 2020
S in the last four years . However , last year ’ s losses surged by more than double . The reason being , millions of people shifted towards remote work and , in turn , created many new attack vectors for cybercriminals .
PwC UK and Panaseer join forces to offer continuous cyber-risk monitoring
P
news

Australians lost a record A $ 176 million from 216,000 scams in 2020

According to data presented by the Atlas VPN research team , Australians have lost over A $ 176 million to scams in 2020 . In total , Aussies reported more than 216,000 fraud cases , with 10.7 % of the reports including financial losses .
Rachel Welch , COO of Atlas VPN , said : “ In general , the year 2020 was a rollercoaster ride . However , cybercriminals used this commotion as an opportunity to find new ways to scam panicking citizens .”
The year 2020 was a record year in terms of monetary losses and the number of scams in Australia . Aussies lost A $ 97 million more in 2020 compared to 2019 , representing a 123 % increase .
cam damages in Australia have been steadily growing

S in the last four years . However , last year ’ s losses surged by more than double . The reason being , millions of people shifted towards remote work and , in turn , created many new attack vectors for cybercriminals .

Australia ’ s citizens aged 65 and over lost most to scams , at A $ 37.65 million , constituting over 21 % of the total losses in 2020 . Next up are 45 to 54-year-olds , who sustained A $ 32.3 million in monetary losses last year .
Third place goes to citizens ages 55 to 64 , and they lost a total of A $ 28.38 million to fraudsters . Nearly half of the scams reported ( 103,000 ) were carried out via phone .

PwC UK and Panaseer join forces to offer continuous cyber-risk monitoring

anaseer , the first Continuous

P

Controls Monitoring ( CCM ) platform for enterprise security has announced that it has joined forces with PwC UK , a leader in cybersecurity consulting services , to offer continuous cyber-risk monitoring . This will pave the way for continuous and accurate measurement , monitoring , and reporting of cyber-risk .
Panaseer and PwC UK bring together best-in-breed technology and consulting services . Gartner recognised CCM as a new product category in its 2020 Risk Management Hype Cycle and listed Panaseer as an inaugural vendor . PwC UK was named a Leader in European Cybersecurity Consulting Services in the Forrester Wave for European Cybersecurity Consulting Providers in Q4 2019 . Customers will be able to leverage executive reporting dashboards from PwC UK , which are informed by continuously updated , accurate , assurance metrics from Panaseer . Together the companies can meaningfully advise and improve a customer ’ s risk posture . The collaboration combines PwC UK ’ s strategic and executive reporting expertise with accurate and real-time security data from Panaseer ’ s CCM platform .
Charaka Goonatilake , CTO , Panaseer : “ One of the biggest challenges in cybersecurity is visibility . As the threat landscape expands and regulatory pressures increase , it becomes even more important to be able to have a continuous and accurate measurement , monitoring and reporting of cyberrisk . This is what CCM enables . Our collaboration with PwC UK takes it one step further . By wrapping together our technology with its consulting services , risk modelling good practices and executive reporting dashboards , we are enabling customers to make critical decisions based on risk scoring and business context .” www . intelligentciso . com
9