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BDO in Australia shares new insights from its 2022 Cyber Security report with AusCERT

BDO's in Australia’s 2022 Cyber Security report explores recent trends in cyber threats, their impact, and the measures to mitigate these risks.

As technology continues to advance and evolve, the need for robust cyber security practices has become even more important. BDO in Australia and AusCERT’s Cyber Security Survey reported a growing concern from respondents over data breaches, affecting individuals and high-profile organisations.

The evolving cyber threat landscape and the sophistication of attacks have made it imperative for organisations to focus on developing cyber resilience.

While these attacks caused substantial damage, they also served as a wake-up call to senior leaders in the public, private, and Not-For-Profit sectors, highlighting the importance of cyber security as a fundamental business function that demands significant investment.

The reported data breaches that have recently impacted several major corporate entities have further fuelled this concern. Respondents reported an increase in targeted malicious emails, data breaches, and incidents of payment redirection fraud. The prevalence of cryptocurrency mining malware has also increased.

2023 is expected to present interesting challenges in the cyber security landscape. Traditional threats such as ransomware attacks are likely to persist, as evidenced by trends observed over the past seven years of survey data. There is also an anticipated increase in crypto-mining malware and phishing attempts.

Source: BDO Australia