Weekly Wrap: March 27, 2024

The information in the Atomic Insights Weekly Wrap is aggregated from other news sources to provide you with news that is relevant to the sector across New Zealand, Australia and worldwide. Each paragraph is a summary of the subject matter covered in the particular news article. The information does not necessarily reflect the views of Atomic.io.

New Zealand

Spark unveils online protections against cyber hazards and scams

Spark, a major telecommunications entity, has unveiled a collection of online protections to ensure the safety of its mobile and broadband customers from hazardous material, cyber threats, and scams. The new tools encompass an automated text scam firewall, as well as two filters designed to minimise exposure to malware, phishing, and child sexual abuse material (CSAM).

📚 Resource: Atomic.io provides in-app solutions for the various utilities sectors including telco. Check out the full range of solutions on our telco page.

New Zealand reggae band Katchafire issues warning to fans after social media pages hacked by scammer

Social media proves another hot spot for scammers. The company that manages the band’s accounts told Newshub a wider member of the group’s crew was duped by someone posing as a podcaster.

📚 Resource: Over 86% of customers view social media as a lower trust channel. You can access the full insights on social media trust and other channels in the Atomic.io State of Digital Trust report. 

How to spot the red flags of a scam

Last year Kiwis lost almost $200 million to scammers. However, it’s believed this figure is the tip of the iceberg, with the Global Anti-Scam Alliance and Netsafe figures showing the actual loss could be over $2 billion, as most victims don’t report scams to police.

📚 Resource: Explore 3 proven strategies for stronger data privacy and security in our recent article. 

Australia

Westpac uses AI to challenge suspected payments to scammers

Westpac Australia will seek more information on-the-spot from customers deemed at risk of paying scammers, with a new AI-powered capability to be inserted into its banking app. But it said there was still more that could be done, and that included at Westpac and more broadly across the Australian business sector.

📚 Resource: Atomic.io currently provides in-app, secure engagement to Westpac, ANZ, BNZ and Kiwibank. To explore the many use cases for in-app messaging in banks, you can access the full catalogue here

Australians’ distrust in SMS, phone, and email grows following increase in scams – new report

Many Australians have lost their trust in messages from SMS, phones, and emails following the alarming increase in scams, according to a report by the Honeycomb Strategy and Atomic.io. In the “State of Digital Trust” report, it was found that more than 5 million adult Australians have interacted with a scam message, while 10% of them admitted that they have lost money because of a scam.

📚 Resource: You can access the full insights by downloading the Atomic.io State of Digital Trust report. 

Card fraud on the rise, with nearly 2 million Australian victims

Almost two million Australians aged over 15 experienced card fraud in 2022-23, with one in six victims losing more than $1000. New data from the Australian Bureau of Statistics (ABS) revealed on average $200 was withdrawn or spent from each of the estimated 1.8 million card fraud incidents.

📚 Resource: Our recent article on how to avoid customers falling victim to scams helps organisations to be more digital first and align their customer communication strategies to meet customer demands.

International

Cyber Scammed – Trojan Horses (China)

Scammers are going hi-tech. They are crafting deepfakes, developing malware and hacking into databases. It’s a global phenomenon and the number of attacks and victims are going up every year.

📚 Resource: Our recent Atomic.io State of Digital Trust report provides further insights and stats on Australian consumers views on scams and recent experiences with fraud. 

Biden administration doesn’t want to ban TikTok despite backing bill that would force sale (USA)

Vice President Harris gave a recent update on the possible ban of TikTok. Businesses who lean heavily on the popular social media platform may have to look to other secure channels soon as the risk of TikTok being banned in the US looms.

📚 Resource: Over 86% of customers view social media as a lower trust channel. You can access the full insights on social media trust and other channels in the Atomic.io State of Digital Trust report. 

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