Australia
has
become
an
increasingly
lucrative
target
for
cybercriminals
using
sophisticated
techniques
to
steal
and
expose
sensitive
customer
information
and
business-critical
data.
While
cybercrime
has
been
rising
for
years,
recent
high-profile
cyberattacks
on
Australian
critical
infrastructure
providers
have
been
wake-up
calls.
Organisations
should
never
treat
cybersecurity
as
an
afterthought.
Securing
systems
and
networks
containing
sensitive
and
valuable
data
must
be
an
imperative.
There
are
three
critical
reasons
why
businesses
must
make
cybersecurity
an
urgent
priority:
1.
Geopolitical
events
have
complicated
the
evolving
threat
landscape
Since
Russia
invaded
Ukraine
in
early
2022,
cyberattacks
have
been
used
to
support
conventional
warfare
efforts.
As
a
result,
there
is
a
significant
increase
in
disk-wiping
malware
used
by
threat
actors.
The
current
geopolitical
and
cyber
risk
landscape
requires
businesses
to
urgently
invest
in
powerful
cybersecurity
software
tools
to
maintain
robust
defences,
minimise
operational
interruptions,
reduce
data
loss
or
compromise,
and
improve
overall
security
posture.
2.
Rapid
IoT
adoption
is
fuelling
attack
surface
expansion
IoT’s
rapid
rise
and
growth
of
capabilities
are
fuelling
an
organisation’s
expanding
attack
surface,
adding
greater
complexity
and
making
it
difficult
to
secure
networks.
The
shift
to
cloud
computing
also
expands
the
attack
surface,
exposing
it
to
new
security
risks
such
as
limited
visibility,
non-compliance,
and
data
loss
or
compromise.
Other
emerging
technologies
powering
the
metaverse,
such
as
digital
twins,
blockchain,
and
cryptocurrency,
present
various
cybersecurity
issues
and
provide
cybercriminals
with
dangerous
levels
of
access.
Businesses
can
limit
the
opportunities
for
cybercriminals
by
implementing
zero
trust
policies,
eliminating
network
complexity,
regularly
scanning
for
vulnerabilities,
and
segmenting
networks
to
prevent
lateral
movement
and
secure
cloud
workloads.
3.
Ransomware
attacks
are
reaching
dangerous
levels
of
sophistication
Ransomware-as-a-Service
(RaaS)
is
a
subscription-based
model
that
sells
or
rents
ransomware
to
affiliates
to
execute
attacks.
Some
of
the
top
RaaS
variants,
such
as
Ryuk,
ALPHV,
Hive,
REvil
(also
known
as
Sodinokibi),
and
Egregor,
specifically
attack
high-value
targets
across
industries,
including
critical
infrastructure.
The
best
way
to
protect
against
ransomware
is
through
a
proactive
approach
that
prioritises
real-time
visibility
and
remediation,
with
zero
trust
network
access
and
endpoint
detection
and
response.
Businesses
can
also
educate
employees
about
ransomware
through
a
comprehensive
cybersecurity
awareness
training
program.
The
urgent
need
for
increased
cybersecurity
controls
Threat
actors
routinely
exploit
poor
security
configurations
and
weak
controls
to
run,
destroy,
or
enable
other
malicious
activity.
Organisations
that
haven’t
invested
in
adequate
cybersecurity
solutions
are
putting
their
business
and
their
customers,
stakeholders,
and
suppliers
at
risk
of
financial
and
reputational
damage.
It
is
imperative
for
companies
to
minimise
their
attack
surface
by
implementing
zero
trust
policies
and
limiting
the
number
of
entry
points
cybercriminals
can
seek
to
exploit.
However,
organisations
must
first
understand
the
dynamic
cyber
threat
landscape
and
its
impact
on
business
operations.
Visibility
into
the
entire
scope
of
potential
and
recognised
threats
will
help
companies
anticipate
risk,
identify
vulnerabilities,
and
determine
the
impact
when,
not
if,
an
attack
happens.
About Author
