To help you better understand this rising risk - and ultimately manage it - we’ve created the Telstra Security Report 2018, which is more comprehensive than ever before. We interviewed over 1,250 security decision makers across 13 countries to build a complete understanding of the challenges facing our customers.
These challenges are considerable, as Australian businesses were targeted with DDoS attacks and ransomware 2017 at a rate higher than their Asia-Pacific and European counterparts.
Furthermore, growing customer awareness of data privacy and new laws affecting Australian businesses, such as the Notifiable Data Breaches scheme1 and the European Union’s General Data Protection Regulation2 make it more important than ever to keep your customer data safe.
The report found that the majority of Australian businesses are aware of these laws and operating in compliance, although only a minority routinely tested their incident response plans.
Driven by the digitisation of the traditionally analogue parts of a business, including building operations, supply chains and surveillance systems, organisations are increasingly approaching cyber and electronic security as one logical security domain.
As businesses continue to innovate and drive customer experience with IoT, estimates predict the number of connected IoT devices will rise to 18.1 billion by 2022, making a robust converged security policy essential to protecting your marketplace advantage.
These factors, as well as an increasing engagement with security in the C-suite, are prompting Australian organisations to increase their security spending in the coming year, in absolute terms and as a percentage of their ICT budget.
1On February 22nd, the Notifiable Data Breaches Scheme amendment to the Privacy Act 1988 came into effect, requiring businesses with an annual turnover of $3 million or more (among others) to notify customers when data breaches occur involving personal information that is likely to result in “serious harm” to any individual affected.
2 The General Data Protection Regulation will come into effect on May 25th and requires organisations handling the data of EU citizens to comply with a number of security approaches, with faces of €20 million or 4 percent of global annual turnover for non-compliance.