National Cyber Security Awareness Week launches today. PayPal, Australia’s leading online payments provider is joining forces with the Federal Government and the AFP to better educate consumers and small businesses on how to protect their personal and financial information.

Cyber crime is fast maturing and is a significant issue in Australia. In 2009 more than 20,000 Australians reported becoming victims of online fraud at a cost of nearly $70 million.  Scammers are now using sophisticated behavioural methods, in addition to more common practices like malware and spyware, to steal consumer identities and con Australian consumers. It’s this trend which is the most worrying and in need of more public education according to PayPal.

The Australian Federal Police Assistant Commissioner, Neil Gaughan said: “We are definitely seeing a trend towards increased socially engineered methods which scammers are using to target and trap their victims. These methods are highly intelligent and targeted and frequently prey on consumers’ emotional decision-making process.  The traditional hacker is now only half the problem.”

“Australian consumers need to start applying the same rigor to their security checks when dealing with money online, as they would offline.  Very few people would send cash through the mail without taking the correct precautions, so it’s important that Australians behave the same way online to avoid falling prey to scammers. It is a joint responsibility of the Government, Police and business to prevent these scams.”

Online scams come in many different forms. It could be a false email from a trusted payment service requesting details for a security update or false payments for online shopping purchases. Consumers should always be aware of potential scams when transacting online.

A pioneer of secure online transactions, PayPal is just one business among many that is regularly targeted by scammers. Last year in Australia there was a rise of 40 per cent in banking and online scams, which targeted a number of high profile financial institutions, highlighting the need for immediate action.

As part of its service, PayPal protects the financial information of over 3 million Australian users to enable them to shop safely and securely online.  PayPal allows anyone to pay without ever sharing financial information, meaning that PayPal is responsible for the security of users rather than those businesses who receive payment via PayPal.

Frerk-Malte Feller, Managing Director, PayPal Australia, said: “PayPal is committed to the fight against cyber crime and we want to bring this issue to light to help to protect our 3 million active users and to educate consumers who buy and sell online. PayPal’s highest priority has always been the security of its payment service and we are dedicated to protecting our users from potential scams.”

As part of National Cyber Security Awareness Week, PayPal has produced an education video and a number of top tips to help consumers stay safe online.

PayPal’s top tips to staying safe online.

1. Be suspicious – Apply the same vigilance online as you would offline
2. Ask an expert – Always check with an expert if you are suspicious. For example, if you receive a questionable PayPal email send it to spoof@paypal.com to verify the email
3. Know your tools –Take precautions and use the tools available to you. From virus and malware protection to using a safe online payments provider such as PayPal. There are numerous ways to help protect and increase your security online.

For more information on National Cyber Security Awareness Week, please visit www.staysmartonline.gov.au