Deloitte hosts Parliamentary Secretary roundtable on cyber security with Australian business leaders
- Risks are evolving faster than organisations can react
- Businesses and Government share their thinking about cyber security
6 August 2015: Australian business leaders and Hon Christian Porter MP gathered at Deloitte today to discuss the key initiatives raised at the Prime Minister’s Cyber Security Summit in July.
At the Summit, business leaders asked for national leadership and a coordinated approach to address cyber security threats, one that included a strong partnership between the Government, businesses and the research community.
At the roundtable – one of a number to be held and hosted by businesses - the Hon Christian Porter MP asked business leaders to work with Government to co-design a range of practical initiatives, including how best to share critical information about cyber threats and enable rapid response to issues.
Deloitte APAC and Australia Cyber leader James Nunn-Price, who hosted today’s session on behalf of Government, business leaders and Deloitte said: “One of the most important initiatives we discussed was ways to grow Australia’s cyber security workforce to meet the critical job needs.
“Our experience is that the niche skills are out there, it is more the complex matter of securing, coordinating and continuing to develop them, as the threat to Australia’s cyber security is growing in sophistication and severity.”
The Hon Christian Porter MP also stressed the important role that innovation plays in growing economic opportunities for Australian businesses and re-emphasised the need to develop home-grown cyber security capability.
He said: “We will continue to develop these ideas and together with the feedback from the Summit, today’s meeting will inform a new Cyber Security Strategy, to be released later this year.”
Information on the Cyber Security Review and Strategy can be found at www.dpmc.gov.au
- The average cost of a data breach per Australian organisation is more than *$2.5 million per year …and rising
- The average breach involved more than *20,000 records in Australia over the five years to 2014
- There was also a 25% increase in data loss between 2013 and 2014 globally
- Most organisations are focussed on prevention as opposed to detection
- Ninety two per cent of breaches are perpetrated by outsiders
- These known external perpetrators come from organised crime (55%), state affiliated hackers (21%), activists (2%) and former employees (1%)
- Only 14% of breaches are by insiders, but this is rising**
- More than three quarters of the breach incidents are caused by weak or stolen credentials
- With rogue hardware and malware also frequent causes of breach or service denial it is important for all employees, contractors and suppliers to be aware of how criminals are targeting them with their well-planned attacks, often triggered by ‘apparent insiders’ who are already lying in wait within the organisation.
James Nunn-Price, who leads Deloitte’s Cyber initiatives across Asia, has established the Australasian arm of Deloitte’s chain of Cyber Intelligence Centres, explained that: “Cyber risks are a result of dynamic targeted threats. On an industrial scale they are focused at the digital assets, operations and information of the organisation. Both complex and severe, these risks are evolving faster than business can react.”
Deloitte’s Australian Cyber Intelligence Centre links in with Deloitte’s existing network of globally distributed Cyber Intelligence Centre.
Nunn-Price said: “It’s all about ‘actionable intelligence’ and being secure, vigilant and sufficiently resilient to recover when incidents do occur.”
- Nunn-Price established the Cyber Intelligence Centre concept, overseeing its implementation in the UK in 2013 and its 24x7 services to clients.
- He was responsible for Deloitte’s overall information security, resilience and cyber advisory services to the UK Government
- He assisted the London 2012 Olympic Games leadership team with cyber incident response, crisis management and forensics.
** number overlap because some insiders and outsiders are in collusion
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