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Webinar: Why now businesses must focus on ransomware!

Are you a Cyber Secured CFO?

 

Robert McAdam | Cybersecurity Expert

Online: 15th March 2023, 12.30 AEST 

 

Join our webinar with industry expert Robert McAdam to learn more about “Why Now” businesses must focus on ransomware and become a Cyber Secured CFO!

Please register your attendance here.

We will add you to our exclusive attendance list and email you further details.

Australia more at risk from cyberattacks, Thales says

Unsurprisingly, Australia’s increased participation in international security pacts has led to greater scrutiny from cyber hackers and nation-state actors. These pacts involve collaboration between countries in defence, intelligence, and cybersecurity, which can make them targets for cyber attacks.

The Thales report highlights the growing threat to critical infrastructure in Australia, including energy, transportation, and telecommunications systems. These systems are essential for the functioning of society and the economy, making them attractive targets for cyber attackers.

The Optus data breach is just the latest example of the increasing cyber threats Australian organizations face. It underscores the importance of robust cybersecurity measures, including regular risk assessments, vulnerability testing, and employee training, to help prevent and mitigate the impact of cyber attacks.

Overall, the Thales report serves as a reminder of the need for continued vigilance and investment in cybersecurity at the national level and within individual organizations. As the digital landscape continues to evolve, staying ahead of the curve in identifying and addressing emerging cyber threats is crucial.

Mr Grant’s comments reflect Australia’s increased risk from cyber attacks due to its participation in international security pacts and the growing threat to critical infrastructure. In addition, the evolving nature of cyber threats means that many companies may have already been attacked without realizing it, making it challenging to identify and address vulnerabilities promptly.

The amendments to the Security of Critical Infrastructure (SOCI) Act 2018, which require Australian businesses to report cyber incidents within 12 hours, are a positive step in addressing these threats. They reflect the growing recognition of the importance of cybersecurity for the Australian economy and society and the need for timely reporting and response to cyber incidents.

Australia more at risk from cyberattacks, Thales says continued…

The global survey of more than 2700 respondents conducted by Thales revealed significant gaps in risk management and found that over 60% of critical sectors’ data in the cloud is sensitive, with human error remaining the main threat. Thales stated that traditional security approaches are no longer sufficient to address today’s evolving threat landscape, putting nations, organisations, and people’s lives at risk.

The survey also found that 44% of respondents reported increased cyberattack volume, severity, and scope in the past 12 months, while more than a third had experienced a security breach. Only half of the respondents could classify at least half of their data. More than three-quarters of respondents were very or somewhat concerned about security risks and threats from employees working remotely.

However, only 45% had a formal ransomware plan, and just half of the critical infrastructure organisations surveyed used multi-factor authentication. In addition, according to the report, enterprises may lack a good understanding of the effects of all the parties involved, such as cyber insurance underwriters, incident response firms, government regulations, and ransomware attribution.

insurancenews.com.au

Stephen Dunstan

Stephen Dunstan (MBA) brings over 30 years of commercial experience developed throughout a highly successful career, including roles at ExxonMobil and Sigma Healthcare and during various executive positions with a range of industry-leading companies. 

Stephen is now leveraging his diverse experience and financial acumen to assist clients in identifying opportunities for cost optimisation and streamlining their operating costs.

Having been accountable for establishing and delivering budgets and stretch targets, Stephen strongly appreciates the need for businesses to optimise operating and non-core costs, enabling them to free up cash and fund growth opportunities.

With a dedication to delivering excellent outcomes for clients, Stephen always puts the client ‘front and centre’ of everything that he does.

While hailing from Melbourne and having spent ten years in Perth, Stephen now calls Brisbane home, his wife, and two children.

Reach out to Stephen today to kickstart your cost optimisation journey!

Robert McAdam

Rob McAdam has had an extensive career in the cybersecurity industry, starting in 1990 with the New South Wales Police Force. He then moved to IBM, where he worked as a program manager with a team of 178 people for the Sydney Olympics in 2000. After the Olympics, he became the Program Manager for Penetration Testing, Managed Firewalls and Intrusion Detection Systems across Asia Pacific at IBM’s Security and Privacy Practice.

In 2002, Mr McAdam founded Pure Hacking, a cybersecurity company specializing in independent security penetration testing. Under his leadership, Pure Hacking became a leading Australian security company focusing on penetration testing, conducting both internal and external penetration testing, application audits, and providing ongoing security management for a growing number of firms.

In 2014, Pure Hacking was sold to PS&C, and Mr McAdam served as the operational overseer of the PS&C Security Practice until 2017, when he started CXO Security. CXO Security is a security consultancy dedicated to servicing the executive suite on security matters, including assisting Boards in Cyber Security matters, incident response for breaches, and security certifications for businesses.

In October 2021, Mr McAdam co-created Sekuro as a founding investor. Sekuro is a cybersecurity company that offers Advisory, Technologies & Platform Engineering, Team Augmentation, Managed Services, and Assurance & Compliance services in both on-prem and cloud implementations. Sekuro was co-created with M&A professionals, CXO Security, and three other established and successful Australian cybersecurity consultancies, including Privasec, Solista, and Naviro, to provide the capabilities and scale needed in the enterprise market.