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According to UpGuard: Since the Australian parliament introduced the Notifiable Data Breach (NDBS) scheme in 2018, data breach reports have risen by a shocking 712%.

With the ever increasing ongoing cyber security incidents and data breaches for organisations like Medibank and Optus it is evident Australia’s online security controls and safeguards are antiquated and desperately in need of an overhaul.

The question for Australian organisations and directors is if data breaches can happen to organisations with large cyber security budgets and cyber teams what does that mean for the smaller organisations with no budget or focus?

Cyber security is just as important for any organisation of any size!

April 6th 2023 UpGuard believe that if you are an Australia business there is a 30% chance you will suffer a data breach and the average cost of a breach (in Australia) is $3.35 million per incident increasing at 9.8% YoY.

There are some simple steps that every organisation can do to limit the impact of cyber security related events. For Example:

  1. Always applying the principle of least priviledge (i.e only give people the access they require to do their job and not the keys to the kingdom’.)
  2. Enforcing the use of MFA or token based devices for authentication.
  3. Ensure all organisation endpoints are protected with antivirus and antimalware.
  4. Ensure all organisation endpoints are updated with latest software and patches
  5. Ensure your endpoints are encrypted.
  6. Ensure all staff are educated on the dangers of clicking links or installing software from emails or from other from unknown sources. (have a look at this sensational product from uSecure)
  7. Follow and ensure adherance to Australian Cybersecurity frameworks like: Essential 8 and CIS Controls

Gold Coast InfoTech is based, unsurprisingly, on the Gold Coast, Australia and is proud to announce our ‘Cyber Security Audit report’ to support organisations to lift their cyber security game.

According to Astra, a cyber security organisation, a cyber attack occurs every 39 seconds on average, with the average cost in the US for data breaches costing $9.44M with overall cybercrime predicted to cost a staggering $8 trillion by 2023.

We can help you with, not only the initial list of recommendations above, but an in-depth cyber security analysis tailored specifically for your organisations size, priority, and budget for all your internal and external systems. The final output is an actionable plan with quotes, risks with associated priorities, and vendor solutions to help your organisation ensure continued protection for your technology assets as quickly as possible.

Also please stay tuned for our upcoming webinars and in-person events “Protecting You and Your Businesses from Scams”.

There is no longer any excuse for Australian businesses not to have their organisations technology security as their first priority with the correct controls in place to prevent data breaches, theft and significant costs to your business. Don’t end up a statistic.

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