scoop.co.nz 22 Mar, 2021 09:30 am

Small Businesses Struggling After Pandemic Fall Prey To Sophisticated Loan Scams

Small Businesses Struggling After Pandemic Fall Prey To Sophisticated Loan Scams
Australia named sixth place in cyber-attack targets, according to Scamwatch Offers of business loans and demands for vaccine registers are the latest to creep into our business community Business owners struggling to keep their doors open are particularly ...

Scoop i World Small Businesses Struggling After Pandemic Fall Prey To Sophisticated Loan Scams Australia named sixth place in cyber-attack targets, according to Scamwatch Offers of business loans and demands for vaccine registers are the latest to creep into our business community Business owners struggling to keep their doors open are particularly prone to increasing and ever sophisticated criminal attacks online, according to Lucas Meadowcroft, co-founder of innovation and IT solutions company CROFTI.” According to Mr Meadowcroft, another popular scam is offering business owners and sole operators business loans to carry them on from the COVID climate, where they may have experienced significant losses due to lockdowns and isolation.With JobKeeper payments finishing this month, he warned that business owners and employees are bound to fall prey to cyber-attacks more so than usual because they are concerned about their future and are looking for solutions.” Mr Meadowcroft’s advice to everyone, especially business owners, is to ensure they implement security upgrades, and empower their people.

Mr Meadowcroft said up to August last year in Australia, Scamwatch had received a massive 55 per cent increase in reports of cyber-attacks, compared with August the previous year, putting Australia in sixth place for the most hacked country in the world.“Here at CROFTI, we are also experiencing a 75 per cent increase in criminal activity compared to the pre-COVID landscape,” Mr Meadowcroft said.

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