Cybersecurity become an area of increasing concern for boards and CEOs in Australia's public and private sectors
It is now clear that, in a world increasingly
reliant on new and evolving technologies, cybersecurity, which used to be
considered as an insurance approach under the sole responsibility of the CIO,
has risen to become an area of increasing concern for boards and CEOs in Australia's
public and private sectors.
According to IDC, this is a direct consequence
of the several high-profile attacks publicized globally over the past couple of
years, as well as the marked increase in attacks within the country itself. The businesses hit by those attacks
have faced significant financial losses, legal pursuits, a tarnishing of their
brand reputation and a drop in customer acquisition and retention.
The understanding and management of threats is a
struggle that most Australian organizations face, and the extremely high
fragmentation of the market increases their confusion as to what solutions to
adopt to be the most secure.
This concern and struggle does not however directly
translate into effective actions. In
some markets in the region, the lack of compelling and enforced legislation
leaves the IT security team with the paradox of how to secure the environment
when the C-Suite are not prepared to fund it or, as so often happens, IT
security is considered important, but not enough to staff it nor fund it
sufficiently.
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