The high risk of a cyberbreach is putting organisations under pressure to protect their employees online, particularly when working remotely. A rising number of cyberbreaches are caused by human error as bad actors specifically target remote workers.
A successful breach is costly to organisations in terms of financial loss, operational downtime, and reputational risk. Studies show that 29 per cent of businesses that faced a data breach ended up losing revenue and, of those businesses, 38 per cent lost at least one-fifth of their income.3
Cyberbreaches can also result in legal action and fines against a business for failing to protect personal data. Under Australia’s Notifiable Data Breaches Scheme, any organisation covered by the Privacy Act 1988 must notify individuals affected and the Office of the Australian Information Commissioner when a data breach can cause serious harm to an individual whose personal information is involved. Failure to report a breach contravenes the Privacy Act.
Even the smallest and often unknown security gap can provide an easy pathway for malicious actors to breach employee and organisational data. There are four key areas where Australian organisations are currently failing to protect employees online.
For more information, contact the cybersecurity experts at Brennan IT today to discuss your organisation’s security strategy, identify any gaps that you have in your network, and understand how this impacts your employees and business security.