For Australian organisations cyber resilience is more important than ever.
In the seventh edition of Minter Ellison’s Perspectives on Cyber Risk report, the findings point to a dangerously evolving cyber landscape. Organisations are facing a greater volume of cyber attacks. They are suffering increasingly severe financial and reputational consequences, and are more exposed than ever across complex supply chains.
Lawmakers and regulators are responding accordingly.
Organisations must comply with new laws, including the new Security of Critical Infrastructure (SOCI) legislation and ransomware-specific regulation, and Privacy Act amendments have been proposed.
Privacy and corporate regulators, such as the Office of the Australian Information Commissioner (OAIC), the Australian Securities and Investments Commission (ASIC), the Australian Competition and Consumer Commission (ACCC) and the Australian Prudential Regulation Authority (APRA), have put organisations on notice that they will take enforcement action against those who fail to comply with regulatory obligations and standards.
But with proper planning, there are steps organisations can take to protect their organisations and mitigate against cyber risk.
In the Report, insights and trends are revealed, as well as a look at the evolving regulatory landscape, how cyber risk measures are impacting specific industries, and what organisations should consider doing now.
You can read the full report here.
