Are you aware of the cost of phishing, and why it’s relevant to payroll? $17,700 is lost every minute globally due to phishing scams. On average, a phishing-related data breach costs $4.91 million. In fact, phishing scams account for over 80% of all data breaches worldwide, with global losses surpassing $50 billion annually. And 60% of payroll fraud originates from phishing or email scams. Payroll teams are prime targets because they: - Process large financial transactions - Receive frequent emails from HR, finance, and employees - Store sensitive data like bank accounts, tax numbers, and salaries - Connect with critical business systems like HR, accounting, and banking In 2023 alone, phishing scams led to $2.5 billion in losses in Australia, and global losses from phishing attacks are expected to keep rising, with more businesses falling victim each year. Protect your payroll team with strong cybersecurity measures. Ensure your payroll team is equipped with robust cybersecurity practices to defend against these growing threats. Don’t let your business become the next victim! #CyberSecurity #PayrollFraud #Phishing
