We’ve done the research for you after reading dozens of reports, statistics, and resources here in Australia and abroad. Here’s what you need to know about the state of Australian Cyber Security: where we are at now, and what threats to look out for.
The Latest Australian News and Statistics in Cyber Crime and Cyber Security
Addressing the crowd at a Cyber Security Summit in Canberra last October 2019, Shadow Minister Jim Chalmers mentioned that the Department of Home Affairs a shocking report on the figures of Cyber Threats.
$29 Billion each year is the estimated cost of Cyber Crimes to Australian Businesses (regardless of size).
This is a small piece of the pie in comparison to the $6 trillion US dollar cyber losses that are expected on a global scale by 2021. However, for Small to Medium Business owners either one of the figures mentioned above could be a disaster for them and their business reputation.
87% of SMBs believe that they are safe from attacks with Antivirus software alone, there is definitely a cause for concern. While it is part of an essential list of security assets, this is not the be-all-end-all tool against the threats.
Cyber Threats and Cyber Attacks to Look Out For
Apart from the ones mentioned above, there are also these critical threats that Australian business owners overlook because they only focus on their computers, when in fact, the prevention should start at their organization. We recently wrote about the 6 biggest threats your MSP should prepare you to get you and your company’s mindset focused on preventing threats from exposing the vulnerabilities on every corner of your business: from the workspace to your employees and more.
The Greatest Risk for Cyber Security in Your Business: Human Error
Human error happens to the best of us, and whether that’s your highest-performing employee or the top executives in your firm or practice, everyone can be susceptible to something as simple as a missent email or opening an attachment from someone who you thought was critical to your business. Currently, the health sector and the finance sector of Australia reported above-average human error breaches compared to the all-sector average of 35%. These data breaches involve unintentionally revealing personal information to a third party of the loss of a data storage device (USBs, Hard Drives, CDs, etc.)
Some of the main disclosure that occurred based on the OAIC figures are as follows:
- Contact Information – 39.42%
- Finance Details – 20.49 %
- Identity Documents – 15.52 %
- Health Documents – 11.78%
- Tax File Number (TFN) – 8.71%
- Others – 4.07%
The Top Known Companies That Were Affected by Cyber Threats
The following are a list of businesses and known brands and the articles and reports of the time they were breached are on this page. It compiles all the known Companies and brands that were affected by a Data Breach in the last few years.