A study commissioned by Microsoft highlights the substantial financial effect of cyberattacks on business in the Asia Pacific including Australia.
The report, titled Understanding the Cybersecurity Threat Landscape in Asia Pacific: Securing the Modern Enterprise in a Digital World, polled 1300 people from 13 countries including Australia and New Zealand as well as our Asian neighbours from China and Japan to India and Thailand. https://news.microsoft.com/apac/features/cybersecurity-in-asia/
More than half of the Australian respondents (55%) had experienced at least one cyber security incident in the five months prior to the June study.
Despite the frequency of attacks, 20% of businesses had not performed regular forensics and data breach assessments to determine whether any cyber-attacks had occurred.
The study’s authors say business decision-makers appear to be still clinging to outmoded ways of managing risks, and this is leaving them ill-informed and unprepared for mounting cyber security challenges.
The study identified four types of cyberattack as having the highest impact in Asia Pacific:
- data corruption
- online brand impersonations, which is when cyber fraudsters create bogus webpages or a social media accounts, either to harm your brand or simply to gain the confidence of trusting customers
- data exfiltration, where cyber criminals use various malicious ways to copy, transfer, or retrieve data from computers or servers
- fraudulent fund transfers
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