Cyber Year in Review
The last 12 months have seen a dramatic increase in the frequency and severity of cyber attacks. Organisations need to be aware of cyber risks, understand their responsibilities and obligations around cyber security, and take proactive measures to enhance their cyber resilience.
As 2021 comes to a close and we step into 2022, we take this opportunity to reflect on how cyber threats have evolved both in Australia and globally, as well as the rapidly changing cyber regulatory landscape.
This year we saw a dramatic increase in the frequency and severity of cyber attacks, with ransomware the predominant mode and COVID-19 continuing to pose risk for organisations shifting to remote working and cloud-based services. Most alarmingly, we saw that threat actors are increasingly taking aim at our critical infrastructure industries and favouring supply chain attacks due to their greater impact. We have also seen an increase in attacks carried out by state-sponsored actors, who are generally not motivated by profit.
These threats and the potentially devastating impact of cyber attacks on critical infrastructure have been recognised by governments around the world, including in Australia. We have seen several key regulations and policies being introduced throughout the year aimed at improving the cyber resilience of Australian businesses, particularly in the critical infrastructure sectors, and enhancing data protection. Similar steps have been taken in the US, UK, EU, Singapore and China. The OAIC has also taken active steps throughout the year to enforce privacy legislation after several global companies were involved in data breaches.
For more information about this guide, or to discuss your organisation's specific circumstances, contact a Lander & Rogers cyber security expert below.