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Today, the digital footprint of businesses is ever-expanding. COVID-19 and the rise of remote working have introduced to organisations a growing, high-threat risk of cyber security attacks. To combat this, most companies in Australia adopt a defensive security strategy, consisting of primarily preventing attacks from happening and protecting confidential data. However, this approach to security is proved insufficient when faced with the growing sophistication of cyber-attack techniques.

In 2021, a notable increase of 15% in ransomware attacks were reported to the ACSC (Australian Cyber Security Centre). Beyond that, a report by ASIC (Australian Security & Investments Commission) found that 40% of SMEs demonstrated weak supply chain risk management practices. An evolving digital frontier must call for a change in the way that we approach cyber threats. A defensive line of action is simply not enough. Companies need cyber resiliency in addition to cyber security.

What is Cyber Resilience?

Cyber resiliency is a long-term strategy that requires an organisation to establish ongoing and adaptable processes to not only protect against security threats but also be prepared to recover from cyber-attacks. To become cyber resilient, an organisation must develop a strong foundation in cyber security. This requires investments in infrastructure to detect and patch vulnerabilities, mitigate threats, educate employees on ways to defend against cyber threats and have robust processes to ensure operational and business continuity with minimal impact in the event of a cyber-attack. 

A cyber resilient culture means considering all aspects of a business. From process mapping, and information technology services, to critical vendor dependencies; cyber security should be prioritised and consciously seen as an essential part. Organisations should also continue to adopt new technologies alongside a changing digital landscape. Cyber security and resilience should not be treated as an end objective but as a transformative process that is closely aligned to a company’s strategic direction to ensure ongoing security and survival.

It is critical to be prepared. Improving a company’s cyber resilience needs to be a program of continuous improvement rather than a one-time project. Cyber resiliency not only warrants a safer execution of an organisation’s direction towards success but serves as armour against a great wave of cyber liabilities.

How CyberUnlocked Can Help

If you want to build a culture of cyber resilience in FY23, talk to us today about strengthening your practices to build a successful culture for the future.