How To Navigate The Perfect Storm: Cyber Threats And Skills Shortages

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The skills shortage across Australia has been recognised as a potential brake on our economic recovery. For CISOs in particular, the lack of qualified and skilled staff to deal with increasingly sophisticated cyber security threats creates the perfect storm for business and consumer risk.

The Australian Cyber Security Centre saw a 13% increase year-on-year in reported cybercrime, with over 67,500 reports in the 2020-21 financial year. The ACSC puts this down, largely, to the impacts of COVID-19, as significant numbers of businesses and consumers moved to access work and services digitally and remotely. The top three cybercrimes reported by type included fraud, shopping and online banking. In the report, ACSC identified six key threats:

Australians targeted online by malicious actors exploiting the pandemic Cyber-attacks on essential services and critical infrastructure A 15% increase in ransomware cybercrime Increasing speed and scale of malicious actors in prosecuting disclosed vulnerabilities Supply chains and their customers targeted through software and services Business email compromise

 

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