Critical attacks more than tripled between August 2021 and May 2022, indicating a rise in attack severity.
The information indicates that online fraudsters consider Australia and its people valuable targets. This information is consistent with a recent study that determined Australia is the wealthiest nation in the world regarding median adult wealth.
Australians’ personal information is being sought after by cybercriminals for sale, ransom, or other financial crimes. These results highlight the necessity for Australian businesses to invest in a security that better suits the needs of the modern data-driven economy.
Organizations can only effectively safeguard their crucial systems and uphold consumer trust—both essential for success in the digital economy by protecting data and the current online corporate channels to that data.
Many businesses hurriedly implemented and transformed their internet initiatives, taking shortcuts that left them open to abuse. The financial, retail, and business services sectors are the most extensively targeted in Australia.
It is tempting for organizations to consider doing the barest minimum to appease the regulator if they are under pressure from a regulator to implement data governance. To take these shortcuts is a severe error because, over time, these organizations wind up working harder than they would have if they had adopted data governance correctly in the first place. Additionally, they pass on all the business advantages of enhancing their data management procedures.
After the Optus news, I overheard a professional comment, “Australia should follow the European model and set up something like GDPR.”
The good news is that in Australia, DocuWare has already received GDPR and SOC2 certifications. Implementing DocuWare ensures that all data is safe, accessible, maintenance-free, and maintained by MS Azure.
The General Data Protection Regulation, or GDPR, is a set of European privacy and data governance laws and regulations. It is for all enterprises, not only those based in Europe or conducting business there or with European clients. The rule establishes harsh penalties for non-compliance and calls for the consumers’ active consent. It also grants them new portability rights to restrict the transfer of their information.
In addition to security, DocuWare offers document management and a workflow automation system that helps businesses streamline all document-based processes.
If this interests you and you want more information, you may contact me personally.
carlos@docuworx.com.au