A new report from global law firm Herbert Smith Freehills reveals that Australian organisations are becoming more concerned with cyber risks. However, their preparations may not be proportionate to the level of threat they face. In a survey of over 160 legal leaders, 80% of respondents noted an increase in cyber threats over the past year, yet many felt that the necessary preparations are still lacking.
According to the survey, 58% of respondents believed it would take an actual cyber incident to significantly enhance their organisation’s focus on data risk management. Cameron Whittfield, partner and APAC Cyber Security Head at Herbert Smith Freehills, stated, “My concern is that those businesses, and those on the front line of cyber response, are fatigued. Operating with a constant and changing threat can create uncertain priorities, from the board to the management team and through to the frontline staff.”
Whittfield added, “We are continually hearing cyber ‘wake-up calls’ and that cyber is a business-critical consideration but managing investment decisions and assessing what ‘good’ looks like remains a significant challenge. Respondents to our survey told us they…
