Cyber security has become an increasingly important issue for corporate boards in Australia and around the world for many reasons, including continuing legislative change. The rapidly changing threat landscape means C-suite officers and staff with IT knowledge must work together to gain a shared understanding of the most effective approach to risk management and effective corporate governance.
The recently released Telstra Cyber Security Report 2016 highlights the proliferation of security threats, including shadow IT and a shortage of cyber security professionals. It also details considerable opportunities created by organisations that take a strategic approach to security and risk.
Recognise the challenges
A shortage of technology security professionals is a big challenge for Australian business, as the number of graduates fell by more than 30 per cent in the past 12 months.
Meanwhile, some companies still consider cloud computing a risky proposition. More than 70 per cent of businesses are worried about data loss and controlling risk factors such as network downtime.
Finally, the emergence of shadow IT is a challenge for business leaders. This growing trend in which staff download apps or using cloud services has combined with the consumerisation of corporate IT and the move to bring-your-own-device (or BYOD) to work.
Top of mind for companies in this environment is the likelihood of sensitive corporate data being stored on relatively insecure personal devices and the cloud, outside the purview of the corporate IT department.
Fortunately, there are well-tested, strategic ways organisations can respond. C-suite officers are working more closely with boards and cyber security specialists to raise awareness among general staff that cyber security is everyone’s responsibility.
The overall threat landscape can be mitigated, but never completely vanquished.
Idea in brief
- Cyber security is not just the domain of IT departments – responsibility rests with the C-suite and the board
- Shadow IT and BYOD trends are putting companies at greater risk
- There is a shortage of skilled data security professionals, with graduate numbers falling
- Risk mitigation is possible – and essential
Ask your Telstra AE about how to use security and privacy strategies to protect customers and improve your business.
Or to find out more our Cyber Security Report 2016 virtual event is now live for registrations.