Cost of Cyberattacks
A study commissioned by Microsoft highlights the substantial financial effect of cyber attacks on business in the Asia Pacific including Australia.
The report, titled Understanding the Cyber security Threat Landscape in Asia Pacific: Securing the Modern Enterprise in a Digital World, polled 1300 people from 13 countries including Australia and New Zealand as well as our Asian neighbours from China and Japan to India and Thailand. https://news.microsoft.com/apac/features/cybersecurity-in-asia/
More than half of the Australian respondents (55%) had experienced at least one cyber security incident in the five months prior to the June study.
Despite the frequency of attacks, 20% of businesses had not performed regular forensics and data breach assessments to determine whether any cyber-attacks had occurred.
The study’s authors say business decision-makers appear to be still clinging to outmoded ways of managing risks, and this is leaving them ill-informed and unprepared for mounting cyber security challenges.
The study identified four types of cyber attack as having the highest impact in Asia Pacific:
- data corruption
- online brand impersonations, which is when cyber fraudsters create bogus web pages or a social media accounts, either to harm your brand or simply to gain the confidence of trusting customers
- data exfiltration, where cyber criminals use various malicious ways to copy, transfer, or retrieve data from computers or servers
- fraudulent fund transfers
For more information on how THINK Technology Australia can provide cyber security solutions to better protect your business contact us on 1300 920 866.
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