\There’s no more time to take a “she’ll be right, mate” approach to cyber security control. Despite the frequency and severity of cyber attacks, some organisations are still slacking off when it comes to their cyber security control. They are failing to proactively manage risks, and not even taking basic precautions like patching their apps or backing up critical data. Not only does this put their business operations and customers at risk, but it also makes Australia a soft target for a range of malicious actors, including foreign intelligence agencies.
A cyber crime epidemic
The ASD has observed that Australia’s vital systems and networks are increasingly coming under opportunistic and deliberate attacks. According to its recent Cyber Threat Report 2022-2023, the ASD responded to 127 extortion-related incidents, many of which could have been mitigated with better cyber security control.
Around 94,000 reports were made to law enforcement through the ReportCyber system — that’s roughly one report every six minutes. The cost of cyber crime is also hitting mid-sized businesses harder than ever. So, for organisations that don’t want to be caught in the middle of a cyber battlefield, it’s time to better protect yourself through established cyber security control measures.
An increasing need to improve cyber security control
The recent ASIC Cyber Pulse Survey 2023 has also exposed some major flaws in organisations’ critical capabilities. The survey shows that many organisations are reacting to crises after they’ve happened instead of proactively managing their cyber security control risks, putting their operations and customer data at risk.
Survey participants were asked to rate their organisation’s capability across six key risk areas. By their own admission, they’re doing poorly across all of these areas, including detecting and recovering from incidents which are vital parts of cyber security control.
ASIC’s recommendations on enhancing an organisation’s cyber defences
1. Engage an expert who can evaluate your key risks and help implement a cyber security control standard
A good expert will have experience in identifying weaknesses and developing strategies to mitigate risks. Once you have an expert on your side, you must implement an appropriate cyber security control standard, such as ISO 27001, to maintain trust with your clients.
2. Strengthen cyber defences and implement risk controls while efficiently managing investments
Having strong defences means functioning on a zero trust protocol. By integrating IAM platforms, you can monitor who has access to what, a fundamental step in cyber security control. Establish 24/7 monitoring of your networks using tools like IDS, XDR and SIEM systems. These tools will keep a watchful eye on your systems as part of a comprehensive cyber security control strategy. When unusual activity is detected, it can be quickly analysed and removed.
3. Adopt risk management practices that prioritise critical assets
It’s absolutely essential to have a risk management strategy in place that prioritises your critical assets. Knowing the risks allows you to allocate resources more effectively and be more proactive in protecting yourself through cyber security control.
4. Ensure resources are used efficiently to protect against threats
Finally, it’s important that resources are used efficiently. This could mean outsourcing cyber security control functions to specialist experts, like our team at Orro. They can assess your maturity and provide a plan for strengthening your security posture.
Take Control of Your Cyber Security Future
Ready to move from chaos to a controlled, proactive security posture? Our specialists are here to help you design a roadmap tailored to your organisation’s needs.
Article written by Manny Salazar, Orro’s Director of Cyber Services.
