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Aussie Business Being Conned By The Crooks, Says Palo Alto

Australian organisations appear to have a misplaced sense of confidence when it comes to cyber-security, according to security outfit Palo Alto, which has a significant presence in the Oz market.

According to a new report by Palo Alto – whose North Sydney HQ is a treasure-house of intercepted dodgy communications by Aussie IT workers – data breaches are still costly Down Under, with 36 percent of respondents losing at least A$130,000 (US$100,000) due to incidents in the 2015-16 financial year.

“Worryingly, that number rose to 40 percent in the 2016-17 financial year,” a Palo Alto report adds.

A particular problem as Palo Alto sees it, is a lack of awareness of the seriousness of cyber threats, with just 70 per cent of Australian respondents agreeing that cybercrime has become increasingly sophisticated in the last three years, compared with 86pc of respondents in China.

The report urges Aussie organisations to shift their focus away from mitigation and towards breach prevention – preferably with Palo Alto software.

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