Australia's Cybersecurity Readiness Lags Globally, New Report Warns
A new report reveals a concerning cybersecurity landscape in Australia. Despite global averages, only 11% of Australian organisations have reached a 'Mature' level of readiness to tackle cyber risks in a hybrid world. This is significantly lower than the global average of 15%.
The Cisco Cybersecurity Readiness Index highlights alarming figures. More than half (54%) of Australian companies are in the Beginner (5%) or Formative (49%) stages of cybersecurity readiness, performing below average. This leaves them vulnerable to cyber threats.
In the past year, 70% of respondents experienced a cybersecurity incident, with 69% reporting costs of at least AUD $740,000+. Looking ahead, 92% expect a disruption in the next 12 to 24 months. This underscores the urgent need for improved cybersecurity measures.
Breaking down the readiness levels, only 26% of organisations are at the Mature stage for Devices security, 17% for Data security, and a mere 23% for Identity security. Meanwhile, 67% of organisations are in the early stages (Beginner or Formative) for Application Workloads security, and 56% for Network Security. These numbers indicate significant gaps in cybersecurity preparedness across various aspects.
The Cisco report paints a stark picture of Australia's cybersecurity landscape. With only 11% of organisations at a Mature level of readiness and a high incidence of costly cybersecurity incidents, there's an urgent need for Australian businesses to bolster their cybersecurity measures. The global average of 15% Mature readiness serves as a benchmark for improvement.
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