Insight on how cyber risk is being mitigated and managed across the globe.
By Cameron Abbott and Georgia Mills
Chubb has recently released a new cyber security insurance coverage for individuals in North America. The product intends to provide greater protection from cyberattacks that lead to extortion and ransomware, financial loss, cyber disruption and breaches of privacy.
By Cameron Abbott and Georgia Mills
The triple zero emergency call service, operated by Telstra, was subjected to an onslaught of more than 1000 offshore calls on Saturday morning, leading to a number of genuine emergency calls being unanswered and sparking a government investigation.
By Cameron Abbott and Sarah Goegan
We all know that cybersecurity incidents can cost your organisation a lot of money, but exactly how much? A report by Frost and Sullivan has found that losses from cyberattacks in the Asia Pacific region (APAC) could reach a staggering US$1.75 trillion, nearly 7 per cent of the region’s gross domestic product in 2017. As covered in our blog last week, the cost of cyber scams alone in Australia totalled $340 million AUD last year.
By Cameron Abbott, Keely O’Dowd and Sarah Goegan
Protecting Australia’s critical infrastructure from threats is essential to Australia’s national security interests, community safety and the overall quality of life for Australians.
In March 2018, the Australian Parliament passed the Security of Critical Infrastructure Act 2018, which is due to commence on 11 July 2018. The Act imposes new obligations on operators and owners of “critical infrastructure assets” – Australia’s high risk major ports and electricity, water and gas utilities.
By Cameron Abbott and Giles Whittaker
Australians are suffering more than ever to various cyber scams, with the ACCC’s ninth annual Targeting Scams Report confirming the ACCC received more than 200,000 scam reports costing a total of roughly $340 million during 2017, a $40 million increase from 2016. Whilst this increase is attributed to a variety of different cyber scams, including investment scams which totalled $64 million, an increase of more than 8%, the second largest contributor to the $340 million total losses was from dating and romance scams which amounted to $42 million. The search for love clearly has its costs. With the average loss suffered per victim totalling $6500, these losses are not inconsequential and continue to push cybersecurity into the forefront of both individuals and businesses daily activities.
By Cameron Abbott and Sarah Goegan
No it’s not Chinese or Russian hackers trying to influence elections. A candidate in the Ontario province elections in Canada has resigned following allegations he may have stolen data from his former employer to further his party’s campaign.
By Cameron Abbott and Georgia Mills
The Australian Defence Department granted IBM Australia a $4 million, 3 year contract for the provision of its Watson cognitive computing infrastructure. The platform provides a cognitive, artificial intelligence and machine learning capability for use by Defence and is only the second on-premises instance of Watson globally.
Matt Smorhun, Assistant Secretary for the ICT Strategy Realisation Branch at the Department of Defence said they decided to “just buy this thing” and then work out how it was going to fit into the organisation later. (Which did strike us as a rather strange approach to spending tax payers dollars – but congrats to the IBM sales person who pulled that off!)
By Cameron Abbott and Sarah Goegan
This week, the US Department of Homeland Security (DHS) released its Cybersecurity Strategy. The five “pillar” strategy will be executed by the DHS over the next five years, and aims to improve national cybersecurity risk management.
By Cameron Abbott and Keely O’Dowd
Recent news reports have revealed that Facebook has been hit with another data scandal.
The anonymised data of approximately 3 million Facebook users has reportedly been published on a poorly protected website. This data was originally collected via a Facebook quiz app called “myPersonality”. The myPersonality app was developed as part of the “myPersonality project” run by academics at the University of Cambridge’s The Psychometrics Centre.
By Cameron Abbott and Allison Wallace
Up to 8000 clients of Family Planning New South Wales have been affected by a ransomware attack on the NGO’s website. No the sort of records people every want to see disclosed.
The website was hacked on ANZAC Day, with the personal information of clients who had contacted FPNSW in the past 2 and a half years compromised – including details such as names, contact details and reasons for enquiries.
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