Warnings about evolving cyber threats after hackers steal $1.2 million from Grafton family business

Paul Fuller says his account manager had good reason to trust the voice on the other end of the phone asking for bank details, but handing them over was a mistake that has cost his business almost $1.2 million.An ex-hacker says small businesses are seen as easy targetsThe man on the phone introduced himself as Mike from the National Australia Bank .

Mr Fuller said, within minutes, the hacker had drained $1.2 million out of the company's bank account, nearly ruining the business.NAB has since recovered $84,000, but has told Mr Fuller there is no chance of recovering any more."Twenty-five families rely on us; I lie awake at night wondering how I'm going to keep going," he said.

By 17, the police came knocking and he was offered a choice: juvenile detention or community work assisting the police to detect cybercriminals."I think it was more a bit of an embarrassment for the banks, so they didn't really want to press charges. It was more the police that went after me," he said.He said hacking was "similar to cancer" in that people did not think it would happen to them.

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Warnings about evolving cyber threats after hackers steal $1.2 million from Grafton family businessA hacker who stole $1.2 million from a family business already had confidential information before the theft occurred. Those in the field say cybercrime is rapidly evolving, and small businesses are facing increasing and targeted threats.
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