Cyber threats are part of every organisation’s risk landscape, particularly as businesses place more of their key assets and systems in internet facing systems, with all organisations susceptible to attack. The cyber
threat environment is incredibly dynamic and boards needing to remain responsive to the threat and the cyber resilience of the organisations they govern.
Cyber incidents can have a significant and at times existential impact on an organisation, but their cause can be surprisingly simple. So simple in fact that it can be a singular security blind-spot, one individual hacker gaining access to data or an employee misplacing a USB. Cyber security system weakness combined with human error often make it relatively easy for cyber threat actors to penetrate IT systems, access valuable data and severely impact an organisation’s stakeholder trust and reputation. At its most
significant, a cyber incident has the potential to cripple an organisation’s operations. This is highlighted in the Toll Case Study in Principle 5.
It is unsurprising Australian directors consistently identify cyber security and data theft as the number one issue keeping them awake at night in Director Sentiment Index surveys.
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