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Cyber Report: One Third Of Employees Think Their Company Isn’t Cyber Resilient

Today, McAfee’s Cyber Risk & Resilience Report (MCRR) has revealed a drastic disconnect between cybersecurity and cyber resilience.

According to research done by the report, one third (35 per cent) of Australian respondents don’t feel their organisation is cyber resilient, despite a majority (87 per cent) saying cybersecurity measures are made at board or executive level.

‘An impressive 87 percent of organisations are taking the right steps towards building a solid culture of cybersecurity. However, this isn’t translating as it should into an adequate level of cyber resilience with our Australian respondents,’ Joel Camissar, Regional Director, MVISION Cloud, Asia-Pacific McAfee, said.

‘Organisations that don’t put cyber resilience at the forefront of their approach to security expose networks and infrastructures to an expanding range of cyber risks, gifting cybercriminals the opportunity to exploit clear gaps in their security posture.

‘The survey found 55 percent of Australian respondents named data breaches as one of the top three cyber risks. To truly combat this, cyber resilience has to become a higher priority for Australian organisations,’ Camissar said.

Business leaders are being urged to place greater importance on the cyber resilience of their organisation and to collaborate with technical and security teams to make the right decisions about investments in cybersecurity.

Cyber technology security, network protection background design, vector illustration

More research highlights from the report note that more than four in five Australian’s (87 per cent) described their organisation’s cybersecurity culture as ‘strategic’, but just 16 per cent of Australian organisations believe cybersecurity incidents have a ‘high’ impact on business.

It also revealed that in the Asia-Pacific region, Australia had the lowest appetite (78 per cent) to invest in cybersecurity technology and services despite regulations impacting their organisation.

‘While some Australian respondents feel in better control of their cybersecurity response, it’s risky to lose sight of the dire financial, reputational and operational impacts a cyber incident can have both in the short and long term,’ Camissar said.

Of the 46 percent of Australian survey respondents who could place a cost on cybersecurity incidents in the past 12 months, they believe the estimated average cost is approximately $332,044.

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