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The Iconic is the latest in a fast-growing list of Australian organisations to suffer a cybersecurity incident. As this masthead reported on Tuesday, thousands of travellers had their personal information including passport images, travel itineraries and tickets exposed online in an incident affecting Melbourne-based travel agency Inspiring Vacations.

Jere Calmes is the chief executive officer of online retailer The Iconic.

St Vincent’s Health and Court Services Victoria also recently suffered debilitating cyber incidents, which have by now impacted almost every Australian.

According to the consumer watchdog’s most recent Targeting Scams report, Australians lost a record $3.1 billion to scams in 2022. Investment scams were the highest loss category ($1.5 billion), followed by remote access scams ($229 million) and payment redirection scams ($224 million).

Ashwin Ram, cybersecurity evangelist at Check Point Software, said an organisation in Australia was being attacked on average nearly 700 times a week over the past six months.

“These recent ones appear to be financially motivated, and cybercriminals are extorting as much as possible from their victims. Many attacks begin with some form of social engineering, such as the one against Court Services Victoria, where email was the delivery mechanism for initial access,” he said.

“The most common attack vectors include phishing, cloud misconfiguration, software vulnerabilities and compromised credentials, as was the case in the St Vincent’s Health breach.”

The Iconic has been consistently unprofitable in the Australian market since it was established in 2011. The online retailer cut a total of 116 roles last year after a redundancy round in February was followed by another one in August.

In November, this masthead revealed the company issued nearly $201,000 in underpayments that were discovered in the midst of upgrading its payroll and HR systems. This followed underpayments of more than $1 million between 2013 and 2019.

(The following story may or may not have been edited by NEUSCORP.COM and was generated automatically from a Syndicated Feed. NEUSCORP.COM also bears no responsibility or liability for the content.)

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