Cyber threats to businesses are increasing at an alarming rate, and in today’s digital landscape sophistication and frequency of attacks means that every organisation is a target. Boards and executives alike now recognise that cybersecurity poses one of their greatest risks, and one that requires active management.

The proliferation of digital devices and platforms has opened doors for cybercriminals to launch attacks on organisations in ways that weren’t contemplated just a few years ago. The widespread adoption of cloud computing, remote work, and the Internet of Things (IoT) has created new attack surfaces, where hackers can search for and exploit vulnerabilities to gain unauthorised access to sensitive data or disrupt business operations.

At the same time supply chains and B2B systems have increased interconnectivity of different systems and networks, to the extent that most enterprises how have deep dependencies on systems that are outside their control to store and process critical data. Attacks via these third-party vectors are common, and devastating.

Malicious cyber activity continues to pose a risk to Australia’s security, as seen recently in headlines across the nation. A range of malicious cyber actors showed the intent and capability needed to compromise vital systems, and major Australian networks were regularly targeted by both opportunistic and more deliberate malicious cyber activity.