Tuesday, June 25, 2019


Despite constant innovation in the field of cybercrime, new research has found that criminals are turning back to old-school techniques to target you and your computer. 

The report by Verizon, which analysed more than 50,000 claims found that close to half of security breaches (48%) were caused by hacking, with an additional 17% caused by errors, 12% by abuse of privilege and 30% caused by the installation of malicious software. 

The report indicated that despite many considering themselves to be foolproof when it comes to these scams, many still fell victim to them. In the Verizon study alone, they found that 15% of their own staff were still tricked by phishing emails, that is, when hackers masquerade under an official or trustworthy identity. 

Based on this, the report called for greater education on different types of cybercrime to be made available to technology users. Although it is not possible to remove all risks associated with technology use, by educating yourself on the risks, you can improve your security and stop yourself falling victim to one of these schemes. 

In the meantime, easy ways you can protect yourself include:

1. Limiting your computers administration privileges (for example, from children or less experienced users)

2. Ensuring your computer's software remains up to date

3. Setting up multi-factor ID access

4. Using complex passwords

5. Backing up your computer regularly (daily if possible)

6. Educating your friends, family and co-workers on the dangers

Get yourself insured

A cyber insurance policy is part of every successful business's risk management framework. You can obtain all of your cyber insurance advice and get a quote by giving us a call. 



Under the new Protecting Your Superannuation initiative, unnecessary fees being charged to Australian super funds will be significantly reduced from 1st of July. Sounds like a good thing, right?

What you might not realise is that the legislation also decrees that all super funds with balances of less than $6,000, or that have not been paid into in the last 18 months, will be closed on this date, unless the super fund provider has been advised otherwise. Basically, if you are self-employed, unemployed, casually employed or on maternity leave, your hard-earned super could be at risk!

As an extension of this, any insurance policies associated with the super fund could also be voided, including Life Insurance, Total and Permanent Disability Insurance or Income Protection. When active, these pay you and/or the family a lump sum or ongoing smaller payments if you die or are no longer able to work. 

To add insult to injury, you also may not be eligible for coverage under a new policy if your current one is cancelled, especially if you have suffered from mental illness, sought medical treatment, begun taking a new medication or undergone genetic testing since you first took out your current (soon to be former) policy, due to these being considered as "pre-existing conditions", making you ineligible for any kind of pay-out should you be forced to make a claim. 

So... now if your time to act and fast!  What should you do?

1. Link your myGov account to the ATO and do a search for lost super.

2. Contact your super fund(s) to find out what insurance you currently have. 

3. Instruct your super fund in writing that you do not wish to have your insurance cancelled at this time (or make a contribution into your super account). 

4. Conduct a full review of your insurances to make sure you are covered. You may need to get professional assistance here. 

5. Decide whether you need to keep your existing super insurance and if not, advise the fund to cancel it. 

Make sure you will not be left in the lurch after 1st of July.


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Contact Details

Zippy Finance 

PO Box 3078
North Turramurra
NSW 2074

T 1300 855 022 

Louisa Sanghera is a credit representative (437236) of BLSSA Pty Ltd ACN 117 651 760.  Australian Credit Licence 391237. ABN 85 168 278 975.

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