That’s the findings of new research by Infosys which also highlights that between Australian and New Zealand organisations and their employees, only 77% of enterprise employees surveyed believe cyber security should be viewed through a critical lens – compared with a global average of 83%.
Almost half of the surveyed enterprises report that boards define its cyber security strategy, just behind the executive layer of IT leaders (CIO/CTO).
And the survey reveals that AU/NZ enterprises are also ahead of global markets, and of all the enterprises surveyed, 39% of CISOs report to the board compared to the CIO in only 31%.
And just 61% of AU/NZ enterprises say there is a well-defined enterprise-level strategy in place, whereas globally 66% of surveyed enterprises reported a well-defined strategy.
“With increasing regulatory scrutiny — such as the recent Banking Royal Commission — it makes sense that boards will be looking to define these strategies and accelerate their implementation,” Infosys notes.
Infosys cites the latest quarterly figures from the Office of the Australian Information Commissioner showing data breaches are rising again in Australia, with 245 reported breaches in April to June 2019.
“88% of AU/NZ enterprises report hackers and hacktivists as their top concern, followed by corporate espionage (77%), low awareness on potential risks of security incidents amongst employees (75%), insider threats (72%) and organised crime (67%).
“According to 72% of respondents, the top challenge is embedding cyber security into the enterprise IT landscape, rather than approaching it as an add-on. This is followed by building a cyber security-aware culture (67%), and cybersecurity technology changing too fast (64%),” Infosys says.
Infosys says it is seeing strong demand from graduates to work in the field of cyber security with more than 15% of new hires being specialists in this field.