Insights from BDO & AusCERT Cyber Security Survey

As technology continues to advance and evolve, the need for robust cyber security practices has become even more important in Australia, according to the BDO’s survey.

Jul 17, 2023, updated Jul 17, 2023

The latest BDO & AusCERT’s Cyber Security Survey reported a growing concern over data breaches, affecting individuals and high-profile organisations. The evolving cyber threat landscape and the sophistication of attacks have made it imperative for organisations to focus on developing cyber resilience.

The findings from the 2022 BDO & AusCERT Cyber Security Survey give us a holistic view of the cyber security landscape in Australia and New Zealand.

The report explores recent trends in cyber threats, their impact, and the measures being implemented to mitigate these risks.

Growing concerns

Significant cyber security attacks occurred in 2022, resulting in widespread data breaches affecting both Australians and New Zealanders.

While these attacks caused substantial damage, they served as a wake-up call to senior leaders in the public, private and not-for-profit sectors. They highlighted the importance of cyber security as a fundamental business function that demands significant investment.

Declining emphasis on cyber security governance

Our survey data has revealed a concerning decline in senior leadership’s emphasis on cyber governance and taking responsibility for cyber risks within organisations.

This trend is worrisome given the rise in cyber attacks throughout 2022.

The widely reported data breaches that have recently impacted a number of major corporate entities have further fuelled this heightened concern.

InDaily in your inbox. The best local news every workday at lunch time.
By signing up, you agree to our User Agreement andPrivacy Policy & Cookie Statement. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Respondents reported an increase in targeted malicious emails, data breaches and incidents of payment redirection fraud.

The prevalence of cryptocurrency mining malware has also increased.

Looking ahead

This year is expected to present formidable challenges in the cyber security landscape.

Traditional threats such as ransomware attacks are likely to persist, as evidenced by trends observed over the past seven years of survey data. There is an anticipated increase in crypto-mining malware and phishing attempts.

Cybercriminals are continuously evolving their tactics and leveraging advanced techniques, particularly with the advancements in Artificial Intelligence and Machine Learning automation. This could lead to more complex and targeted attacks, making it increasingly challenging for organisations to defend against them.

Read the full report now

The 2022 BDO & AusCERT Cyber Security Survey provides valuable insight into the state of cyber security in Australia and New Zealand.

As the threat landscape increases and cyber attacks evolve, organisations must prioritise cyber resilience and invest in robust strategies to protect against these threats.

By understanding the challenges and opportunities associated with cyber security, we can enhance our knowledge and better equip ourselves with the necessary tools to safeguard digital security throughout the region.

Prepared by Leon Fouche, National Leader, Cyber Security at BDO.

Copyright © 2024 InDaily.
All rights reserved.