Cybersecurity Challenges in New Zealand and the ANZ Region
One of the most important concerns for businesses operating in the ANZ region is defending themselves against different types of cyber-attacks. The private and public sectors in the ANZ region have already become victims of ransomware and malware attacks, which have in turn exposed confidential and critical business data.
Scott Morrison, who is the Prime Minister of Australia has warned that they were targeted by a non-sponsored massive cyber-attack. It has also been confirmed that the Australian government will be making a 1.3 billion Australian dollar investment in cybersecurity for boosting the defense of the country against cyber-attacks and other security risks.
For several organisations that are operating in the ANZ region, it is best to gain a clear understanding of common cyber security attacks and how to prevent or combat them if they are looking to run their businesses smoothly without many risks.
Cyber Threats in The ANZ Region
Several experts claim that the line between nation-sponsored attacks and organized cybercrimes has started to become increasingly blurred in recent years. For instance, a couple of years ago, the UN Security Council revealed that the bill for North Korea’s weapons of mass destruction programs was footed through cyberattacks.
Complex or sophisticated types of cyber-attacks were launched on crypto-currency exchanges and banks to siphon off nearly 2 billion US dollars. This means that cyber-attacks that might look like personal lone-wolf attacks might end up being the work of hired cybercriminals who work for an organization.
Such types of lone-wolf cyber-attacks might also be carried out by a state actor. The convergence between crooks and state actors has increased the unpredictability and complexity of emerging cyber-attacks.
It is important to understand that no business or organization is safe from cyber-attacks these days. Any government organization or entity, which has sensitive or confidential information related to business secrets, national security, consumer data, sensitive data, payment details, or any other confidential information is vulnerable to cyber-attacks.
It doesn’t matter whether you are a government agency or a private company or organization, your organization might be hit by cyber-attacks if you store or keep any of the above-mentioned data or information. That said, it is crucial to remember that health care organizations and medical institutions are a common target of cybercriminals and hackers.
Bad actors that are sponsored by some countries are another common concern for both public and private organizations in Australia. These cyber security threats that are believed to be caused due to the geopolitical frictions between the countries have started to manifest in the attacks against the Australian economy.
How To Combat Cyber Attacks
The first and most important thing companies in the ANZ region need to do is work with vendor partners. Several companies often build cyber defences in isolation and they tend to withdraw further when they get hit by cyber-attacks.
The cybersecurity industry will surely have advanced or better information when compared to law enforcement or the government. When your company is in a crisis, better intelligence will help you to make smart and better decisions.
Openly Communicate With Other Security Leaders
ANZ companies that want to stay ahead of cyber-attacks should consider sharing learning and information with other security leaders and peers. Did you know that cybercriminals and hackers share intelligence and actively collaborate?
However, businesses and nations that are divided by boundaries, corporate identities, and geographies do not really do that. Therefore security teams should try to build a trusted ecosystem, where nations or businesses will be able to share intelligence.
A community like that will have better or advanced information regarding the motivations and activities of cybercriminals or hackers. The collective information gained through the community or platform will help businesses to stay away from potential attacks.
There is no denying that technology is critical to ensure the success of cybersecurity efforts or operations. The bad news is that there are several platforms and products available out there, which makes it difficult to figure out the right one that suits your organization.
Several experts in the field of cybersecurity have been recommending businesses to follow a platform-hybrid approach. This will enable them to work with multiple vendors, whose products are compatible and security functions are excellent.
10xDS has entered into a strategic partnership with a New Zealand based company- Gravitus Digital, who has been offering innovative technology solutions in the Southern Hemisphere. Gravitus is a leading business transformation company which has been providing future innovative technologies to various sectors like Banking & Finance, Insurance, healthcare, Retail etc in the New Zealand market.
Together 10xDS and Gravitus will be showcasing our portfolio of services such as Hyperautomation, MS Power Platform, AI, Cloud Security, and other innovations to help businesses in the ANZ region to harness the latest technologies and drive value for their customers.