Australia has become an increasingly lucrative target for cybercriminals who use sophisticated techniques to steal and expose sensitive customer information and business-critical data.
Cybercrime has been on the rise over the years, but recent high-profile cyberattacks against Australia’s critical infrastructure providers have sounded alarm bells. Organizations should not treat cybersecurity as an afterthought. Protecting systems and networks containing sensitive and valuable data is imperative.
There are three key reasons why companies must make cybersecurity an urgent priority.
1. Geopolitical events complicate the evolving threat landscape
Since Russia invaded Ukraine in early 2022, cyberattacks have been used to support conventional warfare efforts. As a result, there has been a significant increase in disk-wiping malware used by attackers.
In the current geopolitical and cyber risk landscape, businesses urgently invest in powerful cybersecurity software tools to maintain robust defenses, minimize operational disruptions, and reduce data loss and breaches. , the overall security posture needs to be improved.
2. Rapid IoT adoption is fueling an expanding attack surface
The rapid rise of IoT and growing capabilities are increasing the attack surface of organizations, increasing complexity and making it difficult to secure networks. The move to cloud computing also expands the attack surface and exposes new security risks such as limited visibility, compliance violations, and data loss or compromise. Other new technologies powering the metaverse, such as digital twins, blockchains, and cryptocurrencies, pose a variety of cybersecurity problems and provide dangerous levels of access to cybercriminals.
Enterprises can implement Zero Trust policies, eliminate network complexity, regularly scan for vulnerabilities, segment networks to prevent lateral movement, and protect cloud workloads to keep cybercriminals at bay. can limit the opportunities for
3. Ransomware attacks have become dangerously sophisticated
Ransomware-as-a-Service (RaaS) is a subscription-based model that sells or rents ransomware to affiliates to carry out attacks. Some of the top RaaS variants such as Ryuk, ALPHV, Hive, REvil (also known as Sodinokibi), and Egregor specifically attack high-value targets across industries, including critical infrastructure.
The best way to protect against ransomware is to use a proactive approach that prioritizes real-time visibility and remediation using zero trust network access and endpoint detection and response. Companies can also educate their employees about ransomware through comprehensive cybersecurity awareness training programs.
The Urgent Need for Enhanced Cybersecurity Controls
Threat actors routinely exploit poor security configurations and weak controls to perform, subvert, or enable other malicious activities. Organizations that do not invest in proper cybersecurity solutions expose their businesses and their customers, stakeholders, and suppliers to the risk of financial and reputational damage.
It is imperative that enterprises minimize their attack surface by implementing Zero Trust policies and limiting the number of entry points that cybercriminals attempt to exploit. However, organizations must first understand the dynamic cyber threat landscape and its impact on business operations. Visibility into the full spectrum of potential and perceived threats helps companies anticipate risks, identify vulnerabilities, and determine the impact of an attack, not if it occurs.