80% of top security experts want businesses’ cyber security practices publicly available, according to a recent survey from attendees at Australia’s largest Cyber Security Conference.
ASX-listed cyber security provider AUCloud polled over 250 people at the event, including Chief Security Officers, Analysts, and IT Directors, to reveal the urgency for more accountability and compliance practices to be implemented across the sector.
Australia is the second-most targeted country in the world in relation to cyber-crime, and in today’s digital age, businesses worldwide store highly confidential information online, including personal, financial, and sensitive business data—making them an attractive target.
Peter Maloney, CEO and Managing Director of AUCloud, said that without robust cyber security measures, our community members, businesses, and governments are faced with a heightened risk of data breaches.
“It’s crucial to hold those who mishandle or neglect the proper treatment of sensitive information accountable for their actions,” Mr Maloney said.
“Data breaches can result in devastating financial losses, identity theft and diminished trust in our digital systems.”
“Similar to a credit score, which reflects a person’s reliability to repay a loan, respondents overwhelming believe businesses should have a comparable rating system to indicate the safety of your data in their hands.”
“Banks expect us to honour our loan commitments, shouldn’t we expect the same diligence with our data? This is the sentiment echoed by leading experts in our field, calling for change and responsibility in how businesses manage data.”
Public exposure isn’t the only action leading professionals are advocating for—82% of respondents feel boards and management teams that are ill-prepared for cyber breaches should face criminal liability.
“Big organisations and corporations need to include cyber security and data protection as part of their risk management plans at the Board level—if they aren’t prepared, it’s the customer that suffers,” Mr Maloney said.
In addition, the majority (56%) of Australia’s security experts are of the opinion that governments should be permitted to use cyber-attacks during conflicts.
This ideology has become particularly relevant given the cyber activities observed during recent events such as the Ukraine War and the conflict between Israel and Hamas.
- Data collected from over 250 top security professionals at the Australian Cyber Conference 2023
Australian Cyber Conference 2023 is Australia’s largest security conference, hosted by peak industry body the Australian Information Security Association (AISA) in Melbourne from 17-19 October.
