Friday 18 Oct 2024
Latest Accounting News
Hot Issues
ATO reveals common rental property errors from data-matching program
New SMSF expense rules: what you need to know
Government releases details on luxury car tax changes
Treasurer unveils design details for payday super
6 steps to create a mentally healthy and vibrant workplace
What are the government’s intentions with negative gearing?
Small business decries ‘unfair’ payday super changes
The Leaders Who Refused to Step Down 1939 - 2024
Time for a superannuation check-up?
Scam alert: fake ASIC branding on social media
Millions of landlords the target of expanded ATO crackdown
Government urged to exempt small firms from TPB reforms
ATO warns businesses on looming TPAR deadline
How to read a Balance Sheet
Unregistered or Registered Trade Marks?
Most Popular Operating Systems 1999 - 2022
7 Steps to Dealing With a Legal Issue or Dispute
How Do I Resolve a Dispute With My Supplier?
Changes to Casual Employment in August 2024
Temporary FBT break lifts plug-in hybrid sales 130%
The five reasons why the $A is likely to rise further - if recession is avoided
June quarter inflation data reduces risk of rate risk
‘Bleisure’ travel claims in ATO sights, experts warn
Taxing unrealised gains in superannuation under Division 296
Most Gold Medals in Summer Olympic Games (1896-2024)
Estate planning considerations
5 checklists to support your business
Are you receiving Personal Services Income?
What Employment Contracts Does My Small Business Need?
Articles archive
Quarter 3 July - September 2024
Quarter 2 April - June 2024
Quarter 1 January - March 2024
Quarter 4 October - December 2023
Quarter 3 July - September 2023
Quarter 2 April - June 2023
Quarter 1 January - March 2023
Quarter 4 October - December 2022
Quarter 3 July - September 2022
Quarter 2 April - June 2022
Quarter 1 January - March 2022
Quarter 4 October - December 2021
Quarter 3 July - September 2021
Quarter 2 April - June 2021
Quarter 1 January - March 2021
Quarter 4 October - December 2020
Quarter 3 July - September 2020
Quarter 2 April - June 2020
Quarter 1 January - March 2020
Quarter 4 October - December 2019
Quarter 3 July - September 2019
Quarter 2 April - June 2019
Quarter 1 January - March 2019
Quarter 4 October - December 2018
Quarter 3 July - September 2018
Quarter 2 April - June 2018
Quarter 1 January - March 2018
Quarter 4 October - December 2017
Quarter 3 July - September 2017
Quarter 2 April - June 2017
Quarter 1 January - March 2017
Quarter 4 October - December 2016
Quarter 3 July - September 2016
Quarter 2 April - June 2016
Quarter 1 January - March 2016
Quarter 4 October - December 2015
Quarter 3 July - September 2015
Quarter 2 April - June 2015
Quarter 1 January - March 2015
Quarter 4 October - December 2014
Quarter 3 July - September 2014
Quarter 2 April - June 2014
Quarter 1 January - March 2014
Quarter 4 October - December 2013
Quarter 3 July - September 2013
Quarter 2 April - June 2013
Quarter 1 January - March 2013
Quarter 4 October - December 2012
Quarter 3 July - September 2012
Quarter 2 April - June 2012
Quarter 1 January - March 2012
Quarter 4 October - December 2011
Quarter 3 July - September 2011
Quarter 2 April - June 2011
Quarter 1 January - March 2011
Quarter 4 October - December 2010
Quarter 3 July - September 2010
Quarter 2 April - June 2010
Quarter 1 January - March 2010
Quarter 4 October - December 2009
Quarter 3 July - September 2009
Quarter 2 April - June 2009
Quarter 1 January - March 2009
Quarter 4 October - December 2008
Quarter 3 July - September 2008
Quarter 2 April - June 2008
Quarter 1 January - March 2008
Quarter 2 April - June 2007
Quarter 2 April - June 2006
Quarter 1 of 2016
Articles
Preservation Age Rules affects those born after 1 July 1960
SBEs 'to save millions
Ransomware - BEWARE!
No Change to Super Fund Borrowing Rules (yet)
Property to remain at top of ATO’s hit list
Turnbull stands firm amid SG freeze speculation
Tax breaks, education and access to advice key to successful transition to retirement
Dying Without a Will
Access to good Budgeting and cash flow tools is important to us all.
Ransomware - BEWARE!

 

Beware of Ransomware, a member of the dark side of the internet.  You'll be aware of hacking, viruses and server attack but Ransomware is one of the worst and most insidious.


However, if attacked and if you’re quick to shut down your computer (even pull the power cord out if need be) then you may be able to avoid issues even if the ransomware encrytion process has started.     



                 


To most of us an e-mail, with an attachment or a link, that’s supposedly from a credible source such as the Australian Federal Police (AFP), ATO or Australia Post (a popular faux-sender because of the levels of online shopping) appears like something that should be opened.   Unfortunately, too many think this and every day more computers are being taken-over and people extorted (see Symantec’s example below).  Be very careful.  
 
A test: If something seems important but comes from a source that seems wrong (the AFP notifying you of a traffic fine) then just delete the e-mail immediately.   However, this is being made more difficult as some organisations are increasingly using e-mails to send documents as a way to cut mailing costs, and most don’t advise of this change.  At the moment, scam e-mails claiming to come from Australia Post are being clicked on way too often.  If unsure you can always check the ‘sender’s’ website (the AFP site, for example, mentions the e-mail scam that relates to them) or give them a call. 
 
If you are hit then there is little time to act but you have a chance if you’re quick.  Also if you’re on a network and the other computers have shared files and folders then they too will be infected instantly.  All such computers need action taken immediately as well.  Tip:  Ensure what's ‘shared’ between computers is minimised as much as possible.
 
Firstly, your security software should react immediately when it detects the fact you’ve just unleashed some malware and display a pop up message.  Often these displays are quick so be vigilant, and if you can set them to display for longer, then do so. 
 
Secondly, if there is ANY indication of Malware/Ransomware THEN SHUT YOUR COMPUTER DOWN IMMEDITELY.  Ransomware needs a bit of time to encrypt/lock files, etc and only shutting your computer down will stop it.  Ransomware is usually an executable file so when restarting your computer, in most cases, it should not restart the malware itself.  
 
Finally, scan the computer using your security software such as Microsoft Security Essentials or Norton. But equally important is to run specialist malware software as well.  If you don’t have such software then a good option is Malwarebytes Anti-Malware software.  Go to their site, install the free software (you can upgrade later if you want) and scan again.  When done and all malware is removed then re-boot your computer again.  With any luck you will be able to continue.
 
Preventive maintenance: 
1.      Make sure your security software is always up to date, this usually happens automatically.
2.      Updated system and application software helps also.    
3.      Scan regularly.
4.      Back-up your data regularly, even if only your personal files, to an external/cloud drive or a flash drive.
 
It’s not uncommon to receive 3-4 Ransomware e-mails a day, so be careful.  Ransomware can also be downloaded by visiting malicious or compromised websites, so be careful there too.
 
A bit of history:
 
Ransomware first emerged in Russia and Eastern Europe in 2009 and is largely run by professional cybergangs.  
 
An example of why criminals do this sort of thing as investigated and documented by Symantec:  
 
$33,600 in one day!!
 
Symantec experts analysed how criminals monetise the scheme.  In the month-long period the experts studied one specific attack in more detail and 2.9 per cent of compromised users paid out. This may seem like a small percentage, but it pays off for the criminals:
 
•        During the month 68,000 computers were infected: the equivalent of 5,700 every day.
•        Ransomware typically charges between US$60 to US$200 to unlock the computer.
•        On a single day, 2.9 per cent or 168 users paid the ransomware, permitting the criminals to potentially earn US$33,600; which means the criminals can make up to $394,000 in one month.  There are many types of Ransomware.
 
NB:  Be careful of this also:  Another version of Malware is FAKEAV.  Instead of capturing the infected system or encrypting files, FAKEAV coax users into purchasing their bogus anti-malware software by showing fake anti-malware scanning results.  


Beware!  Beware!  Beware!  
 


Peter Graham


AcctWeb / PlannerWeb




22nd-March-2016