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The Melbourne Joint Cyber Security Centre (JCSC) hosted a two-hour seminar yesterday on Business Email Compromises (BECs), which many cyber security experts consider to be the major current cybercrime threat to business. The seminar provided information to small and medium business representatives, as these sectors are particularly targeted by cybercriminals who are perpetrating BECs.

The JCSC worked with Small Business Victoria, the Victorian Small Business Commissioner and the ACCC's Consumer and Small Business Strategies Branch, to invite key Victorian business stakeholders to yesterday's event.

Around 90 representatives attended the session in Melbourne, with the event video-conferenced across the country including to regional Victoria and Hobart.

The session was presented by a panel of five industry and government cyber security experts including Alex Tilley, e-Crime Lead for the Counter Threat Unit at Secureworks.

'When you realise 41% of Australian businesses have no cyber security governance, it isn't surprising they're being targeted so specifically by cybercriminals. Australian businesses need to act fast and take their cyber security as seriously as other commercial risks,' Mr Tilley said.

The experts provided a comprehensive examination of what BECs are, why they are so harmful, who are perpetrating BECs, how they are evolving, how government helps businesses, and the actions businesses can take to prevent themselves from becoming victim.