Cyber-attacks ‘far worse than we hear’

prototype-robot-key-1000While big brand customer data breaches are widely publicised, KPMG reports that more costly, frequent and insidious cyber-attacks are still substantially unknown to the public.

The theft, corruption or destruction of proprietary company information make up about a third of all cybercrime.

There is no incentive for revealing a loss of proprietary information, but with losses estimated in the billions, is it time to acknowledge our failing ability to adequately defend against cyber-attacks?

Meanwhile the Notifiable Data Breaches Bill passed the Australian Senate and is set to become law, requiring companies subject to the Privacy Act to notify the public if personal data has been hacked.

The change has triggered a race for IT talent to comply with the new rules that would come into force in 2018.

Read more: Forbes / CNBC / AFR / The Australian / ABC

Image: Shutterstock

This story is taken from the 17 February 2017 edition of The Warren Centre’s Prototype newsletter. Sign up for the Prototype here.