Data breaches now have the potential to cause 'irreversible brand damage' to Australian businesses, a senior executive at the world's largest cybersecurity firm has warned amid growing concern about the risks cyber criminals pose to the nation's critical infrastructure.
'Irreversible damage': Alarming data shows heightened vulnerability of Australian businesses, critical infrastructure to cyber attacks
Under the changes, businesses are required to complete annual reporting to notify the federal government of any attempts to access their networks. According to the Australian Bureau of Statistics, 34 per cent of businesses reported a loss of resources in managing cyber security attacks in the 2021-22 financial year.
"There are also entities that are not necessarily critical infrastructure, but they have also reported 142 incidents." The cybersecurity expert said there can be a number of motivators for hackers aside from just financial gain, such as the element of control.
Australian Government Cyber Security Hackers Ross Greenwood Business Weekend Critical Infrustructure
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