3 minute read
The second annual Clyde & Co. Cyber Summit, held on 15 February 2024 at the Sydney Cricket Ground brought together international and domestic leaders in cyber-security and privacy to share their insights and projection on what lies ahead for Australia as it looks to become the most cyber-secure nation by 2030.
Here are our Top 5 takeaways
- The Ever-Present Threat of Cybersecurity
The most common thing keeping executives up at night is cyber. A cyber incident occurs every six minutes, underscoring the importance of vigilance and proactive measures to protect against these threats. - Importance of Preparedness and Adaptability
Cyber risks are constantly evolving, making it crucial to engage in event-neutral planning and maintain flexibility in our response strategies. Recognising the dynamic nature of cyber threats ensures we remain one step ahead. - Critical Role of Third-Party Vendors and Real-Time Communication
In times of crisis, having reliable third-party vendors and a clear communication strategy that focuses on current developments is vital. This approach helps maintain trust and manage stakeholder expectations effectively. - Teamwork in Crisis Management
The analogy of a cricket team effectively illustrates our role in cybersecurity – working as a cohesive team to prevent the ‘wickets’ from falling. This involves a collaborative approach to understanding and addressing issues before they escalate into crises. - Reduction in Ransom Payments
Ransom payments have dropped in the last year from 80% to 30%. This notable decrease, reflects a combination of better preparedness, alternative solutions to ransom demands, and stronger regulatory discouragements against funding cybercrime.
