Category: Report & Surveys

1
Cyber-criminals outspend organisations more than 10 times in bid to find cybersecurity weaknesses – who says cyber-crime doesn’t pay?
2
Research reports say risks to smartphone security aren’t phoney
3
Report savages US Government agencies’ cybersecurity efforts
4
Report says Digital Rights are Human Rights
5
Over half of notifiable data breaches caused by human error
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Cybersecurity vulnerability revealed after NSW Government agency’s 49-day hack
7
De-identification of Data and Privacy
8
Cybercrime most costly to financial services
9
One-third of US businesses suffer data breaches: How will you protect yourself?
10
The Essential Eight: Strategies for Security for Commonwealth Government Agencies

Cyber-criminals outspend organisations more than 10 times in bid to find cybersecurity weaknesses – who says cyber-crime doesn’t pay?

By Cameron AbbottRob Pulham and Colette Légeret

Cyber attackers are able to search for that one weak link in corporations defences whereas corporates have to create a completely strong chain of defence against every possible scenario.  This asymmetrical fight would you think mean organisations would have to outspend attackers by many multiples.

However, according to software company, Carbon Black, the situation is worse than that because it appears that cyber criminals are outspending corporation!  Cyber-crime is big business, and as such, cyber-criminals are spending an estimated $1 trillion each year on finding weaknesses in the cyber defences of organisations and developing new ways of attacking them, in comparison to the $96 billion spent by organisations in an attempt to secure themselves from these cyber-attacks.

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Research reports say risks to smartphone security aren’t phoney

By Rob Pulham, Warwick Andersen and Sarah Goegan

Beware! Your favourite apps may be putting your phone and data at risk. Reports from Allot and BitSight have examined rising threats to the security of our mobile devices.

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Report savages US Government agencies’ cybersecurity efforts

By Cameron Abbott and Sarah Goegan

You would think government agencies would have a keen focus on cybersecurity risks, but apparently not! A report by the United States Office of Management and Budget (OMB) has found that nearly three-quarters of Federal agencies reviewed have either “at risk” or “high risk” cybersecurity arrangements. 71 of 96 agencies assessed were either missing, had insufficiently deployed or had significant gaps in their fundamental cybersecurity policies, processes or tools.

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Over half of notifiable data breaches caused by human error

By Warwick Andersen, Rob Pulham and Keely O’Dowd

Following on from Friday’s blog, we have looked at a particular aspect of the Office of the Australian Information Commissioner’s Notifiable Data Breaches Scheme quarterly report in more detail.

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Cybersecurity vulnerability revealed after NSW Government agency’s 49-day hack

By Cameron Abbott and Harry Crawford

The NSW Government’s vulnerability to hacking has been exposed in a report by state’s auditor-general, in which it was revealed that one government agency took 49 days to shut down a hack.

This hack started with an email account of the unnamed agency being compromised and used to send out “phishing” emails to get the credentials of finance staff members. By day 20, 300 staff had clicked on the bogus link in the phishing email. 200 email accounts ended up being under the control of the hackers.

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De-identification of Data and Privacy

By Cameron Abbott, Keely O’Dowd, Giles Whittaker and Harry Crawford

As promised in a previous blog post, K&L Gates have performed an in-depth analysis of the risks of relying on de-identification of data to protect privacy, in the wake of researchers successfully re-identifying de-identified medical data that was released by the Australian Department of Health in 2016.

Read the article on the K&L Gates HUB here.

Cybercrime most costly to financial services

By Cameron Abbott and Keely O’Dowd

A study by Accenture and Ponemon Institute – Cost of Cyber Crime Study: Insights on the security investments that make a difference – found cyberattacks cost financial service firms more to address and contain than in any other industry. The rate of breaches in the industry has tripled in the past five years. On average, the cost of cybercrime for financial services companies globally has increased by more than 40% over the past three years, from $12.97 million per firm in 2014 to $18.28 million in 2017.

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One-third of US businesses suffer data breaches: How will you protect yourself?

By Cameron Abbott and Harry Crawford

A recent survey has shown that nearly one-third (29%) of US businesses experienced a data breach in the previous year.

The Hartford Steam Boiler Inspection and Insurance Company, part of global reinsurer Munich Re, conducted the survey which shows that 8 in 10 affected businesses spent at least $5,000 to respond. 27 percent of the businesses spent between US$5,000 and US$50,000 to respond to the data breach and 30 percent spent between US$50,000 and US$100,000, and a considerable portion spent even more than that. The costs were not only directly financial, with two-thirds of the affected businesses reporting their reputation was negatively impacted.

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The Essential Eight: Strategies for Security for Commonwealth Government Agencies

By Cameron Abbott, Keely O’Dowd and Olivia Coburn

The Federal Parliament’s Joint Committee of Public Accounts and Audit, tasked with inquiring into the cyber resilience of certain Commonwealth entities has recommended that all such entities adopt a cyber security mitigation strategy called the Essential Eight.  The Committee made this recommendation in its Report 467: Cybersecurity Compliance Inquiry based on Auditor-General’s report 42 (2016-17) (Report). Tarantino’s Hateful Eight is perhaps a little more convoluted than these simple touchstones of good practice. The Essential Eight are good reading for all enterprises, not just government agencies.

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