Security Market Segment LS
Tuesday, 10 September 2019 00:43

Boards in Australia, NZ take more ‘hands on’ approach to cyber security than global counterparts Featured

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Australian and New Zealand enterprises are global leaders in board-level cyber security practice, with cyber security a top priority for organisations in the two markets and with boards taking a more hands-on approach to cyber security.

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%.

Infosys says this is the opposite of global markets where CISOs report to CIOs in 34% of enterprises and to the board in only 32%, highlighting how critical AU/NZ enterprises view board involvement.

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.

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Peter Dinham

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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