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Cyber Attack Risk: A threat too big for businesses to ignore

Cyber Attack Risk: A threat too big for businesses to ignore

| On 14, Sep 2018

Nowadays, cyber attacks are becoming too frequent and costly for businesses. In spite of the increasing number of cyber attacks against all sorts of companies and public sector associations, most Australians stay uninformed of the requirement of compelling digital strength specialists have cautioned.

The Government’s Cybersecurity Breaches Survey in 2017 found out that in the past year 42-48 computers of United Kingdom organisations identified at least one cybersecurity break or assault. The figure for medium-sized organisations (50-249 representatives) was 66 pc; for large organisations (more than 250 workers) was 68 pc.

The average cost to big businesses of a cyber-attack was $36000, even though now and again the figure raced to a large number of bucks.

The Australian Financial Review conducted a roundtable discussion in partnership with ACS. Here are the views of some of the participants at that discussion.

According to Fergus Hanson, the head of International Cyber Policy Centre, the relaxed and calm attitude of most people towards cyber threats is due to the perception of a lack of threats. Suppose someone gets their credit/debit card stolen, and they will not be that much concerned with it because they know that their bank will make things better again. He also says that it’s a data breach of personal information and it gets on the deep web. Not all of us surf the deep web, so people think it doesn’t bother them.

Other participants on this topic say that even if most are aware of the risks regarding the cyber threats, they do not know how to prevent them. People should learn about the problems caused by these attacks and how they can avoid it.

Cyber Threat advances:

The number of cyber threats continues as an upward trend since the year 2015. Last year, there was an increase of 101.2% of ransomware variants.

According to Simon Ratcliff, the head of cyber security at SingTel Optus, the majority of the population is taking the view that cybersecurity is too tricky, they do not understand it correctly, and hence they think nothing could be done to prevent this problem. There is like a great disarray haze that keeps them from feeling cyber threats can be avoided.

According to Maria Milosavljevic, the chief information security officer for the NSW government, most people do not understand the technology and get more scared because of that. They think they will get into more trouble by taking wrong advice which they do not follow.

She said that people need to understand that it is not just about technology, it can affect them and their business.

The director of enterprise security at Micro Focus, Chris Casswell, says that it is imperative for people and associations to comprehend their obligations with regards to guarding against digital assaults. It isn’t sufficient to expect that another person will do the difficult work.

All the participants agreed that for Australian organisations to develop a good sense and level of cyber resiliency, a long-term approach is required.

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