It’s difficult, if not impossible, to find a security expert who doesn’t think a major cyberattack with potentially devastating consequences is a case of when, not if.
There were 47,000 cyber incidents in Australia alone last year. An ‘incident’ is defined as one or more unexpected events that are likely to compromise an organisation’s operations. That’s 128 a day. Five every hour.
Many of them are online scams or frauds.
But the rest are more serious, often aimed at disrupting businesses, sometimes destroying them; stealing secrets and compromising operations; making money and costing companies both cash and reputation.
Lloyds of London rates cyberthreats in Australasia as the second highest risk to our Gross Domestic Profit after a market crash.