Protecting Our Cyber Future
Be proactive before it’s too late
The annual global cost of cyber-attacks to business and individuals is around USD $133 billion. In Australia it’s just over $1 billion and in New Zealand around $625 million. No matter how you look at it, cyber security has to become one of the top issues that Chief Executives address with their Boards, and with the Executive Team.
In the Asia Pacific region, organizations generally feel immune from attack because of the lack of cyber-crime statistics which is helpful when committing budget, and making business decisions. Alongside the lack of data, our legislative framework has had historically limited regulatory options with which to penalize organizations. The lack of data and threat of penalty means that cyber security is often way down the boardroom agenda, and worse, is often ignored altogether.
With what seems like an unstoppable growth in technology, now more than ever, we are connected on a global scale. With this growth it has also become increasingly important to pay attention to cyber security, but even more important to address how we curb cyber threats and crime. With the increased volume and sophistication of cyber threats, a bigger discussion needs to take place; we need to be proactive rather than reactive.
Cyber security is more than a security issue; it is also a strategic issue. The latest in the CA future series, with input from Deloitte discusses the threat of cyber security in the Asia Pacific region and provides insight into how to take traditionally reactive approaches and turn them into proactive engagements. This is a discussion that is taking place all over the world. Australia and New Zealand can no longer afford to be complacent about this issue.