iscover ATO emphasises cyber hygiene during tax time
RegulationThe ATO has reminded businesses to secure their online platforms, systems, and processes to prevent cyber attacks during tax time.
The risk of cyber events impacts every business and the ATO has advised all businesses to induce a comprehensive plan to prevent a cyber attack from occurring.
The average cost of cyber crime in the 2022–23 financial year reached $46,000 for small businesses, which can be avoided in future if specific precautions are taken.
Simple steps to safeguard from cyber attacks include ensuring all staff members are aware of cyber threats, as well as reinforcing protection of accounts, devices, and classified information.
Australians have lost $113.3 million in scams over the 2024 calendar year so far, according to beta scam statistics from Scamwatch.
To protect your business from cyber breaches during tax time, the ATO has provided extra advice to ensure businesses are tightening their cyber security.
This includes updating all operating systems, downloading antivirus software, and accessing government services by typing the correct website address directly into browsers.
The ATO also outlined the importance of disregarding any disingenuous messages or emails, avoiding clicking on links that require personal information, and hanging up on any suspicious phone calls claiming to be the ATO.
Taking these extra precautions during tax time will ensure businesses are protecting their classified information and financial security against cyber attacks, the ATO said.
All scams can be reported to
Imogen Wilson
Imogen Wilson is a journalist at Accountants Daily and Accounting Times, the leading sources of news, insight, and educational content for professionals in the accounting sector. Imogen is also the host of the Accountants Daily Podcasts, Under the Hood and Accountants Daily Insider.
Previously, Imogen has worked in broadcast journalism at NOVA 93.7 Perth and Channel 7 Perth. She has multi-platform experience in writing, radio, TV presenting, podcast hosting and production.
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