Four of Australia’s security firms have questioned whether enough is being done to defend businesses and organisations against security attacks by cybercriminals in the wake of a report by the Office of the Australian Information Commissioner (OAIC) revealing malicious or criminal attacks dominated data breaches over a three month period to the end of June.

Malicious or criminal attacks were the largest source of data breaches in Australia in the three months to the end of June this year, accounting for 62% of all data breaches, according to a new report from the Office of the Australian Information Commissioner (OAIC).

Business losses to cybercrime data breaches will rise from US$3 trillion each year to over US$5 trillion in 2024, an average annual growth of 11%, according to a new global cybersecurity report.