BRISBANE (CU)_As the world moves more towards a digital technology the cybersecurity breaches are likely to become more of a common place as even top companies in recent times have indicated vulnerability to hackers and cybersecurity breaches.
University of Queensland findings has suggested a need to emphasize cybersecurity training for board directors, to better guard Australian organizations from cybersecurity breaches. Dr Ivano Bongiovanni from the University of Queensland Business School stated that his findings demonstrated board directors were uncertain about their duties and liability for cybersecurity, and often did not grasp its significance.
“As the data breach at Optus this month demonstrates, no organisation is immune to cyber-crime,” said Dr Bongiovanni and also stated that 43 non-executive directors were interviewed and there was significant uncertainty for the ideal practice or cybersecurity guidelines. He further indicated that the perceived idea of cybersecurity being a plain technical topic and directors were disengaged on the topic. Taking into account that the duty to monitor cyber risk management falls on the board of directors, an enhanced cyber-skill set was needed.
Cybersecurity failure is ranked a top threat facing Australian firms, and with customer information accessed in an attack on Optus one of Australia’s leading telecommunications companies, the Australian Cyber Security Centre alerted companies to be vigilant.
Study co-author and University of Queensland honors graduate Megan Gale stated that the likely effects of data breaches on Australian organizations was huge and an interreference of IT infrastructure could cause the closure of a company bringing about economic loss and sometimes even worse. The finding from the report is likely to be of significance not just for Australia but the whole world as it has indicated the vulnerability even large well-funded organizations be a victim.
Quite often cybersecurity risks come from the inability to maintain simple safety guidelines hence better training is likely to be a priority for more organizations.
