Following cyber attacks on several local businesses and a school, the Newcastle Herald has published a discussion on cybersecurity with our Sales and Marketing Director, Michael Wilson.
As we’ve written throughout the year, we’ve seen increasing cybersecurity risks facing Australian businesses, with phishing attacks for instance up 44% compared with last year, and the Australian Cyber Security Centre (ACSC) receiving reports of cyberattacks around once every 10 minutes.
To discuss these threats and how businesses can tackle them, as well as the five year outlook for cybersecurity, Michael fielded a range of questions from the Newcastle Herald.
Some of what Michael had to say
One analogy I like to use is that in some places is it safe to leave your house unlocked because the risk of someone breaking in is so low, but if you lived in a high crime location you would take many measures to secure your house. A few years ago the risk of cybercrime was so much lower that many were left unlocked or only minimal security was in place as it was unlikely to be breached. Unfortunately, the landscape has changed rapidly. We now have to take more and more security measures as the frequency and the sophistication of the attacks is increasing dramatically.
The main threats from cyber criminals? Phishing and business email compromise ransomware such as cryptolocker and Wannacry malware that encrypts your data and holds it to ransom [and] spoofing attacks pretending to be other people usually attempting to directly steal funds.
[In the next five years] Cyber criminals will continue to invest in artificial intelligence to increase the sophistication, frequency and effectiveness of attacks, particularly by leveraging social engineering. Artificial intelligence will use many data points to correlate information about you to try and trick you into giving up passwords, clicking on something or taking an action you otherwise wouldn’t. The trends of increasing frequency and sophistication show no signs of slowing down.
Michael Wilson – Forsythes Technology