DYNAMIQ IN THE NEWS: CONFRONTING THE CYBER THREAT

Recent high-profile cyber breaches such as the American Office of Personnel Management data breach, the Ashley Madison saga, and the Reserve Bank of Australia phishing attack have highlighted the prevalence of the cyber attack threat.

Australian businesses are increasingly at risk of cyber espionage. In 2014, attacks on Australian organisations rose 20%. The most commonly targeted sectors are banking and finance, resources and energy, defence capability and telecommunications.

Impacts of a cyber attack or breach could include:

1. Damage to an organisation’s reputation
2. Affected profitability and ability to compete in the global economy
3. Limited business opportunities
4. Undermined organizational viability and business model

Given the rise of such attacks, it’s vital that your organisation’s response is linked to existing crisis management frameworks. Key to managing the threat of a cyber attack or breach is exercising your crisis management response.

A cyber exercise should cover the following:

1. Explore vulnerabilities and potential consequences of a cyber-attack
2. Practice the escalation of IT incident management
3. Explore relevant disaster recovery arrangements
4. Identify and manage stakeholder requirements
5. Practice strategic consequence planning and briefing processes

 

For more information on cyber threats and measures you can take to mitigate your risk, contact Phil Kent-Hughes: philip.kenthughes@dynamiqglobal.com

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