Blog Post created by Adam de Jong, Chief Commercial Officer Employee

iiNet founder Michael Malone is hosting an exclusive executive discussion for WA business leaders with a focus on the implications of cyber-crime and why current cyber risk methodologies need to evolve.

"With every business now beating with a digital heart, cyber-crime is becoming more attractive for malicious threat actors, due to its ease of access, anonymity, deniability and freedom of movement it affords" said Mr Malone.

"Part of the problem is that the current approach of determining cyber risk is antiquated - we need to be talking about a threat-centric approach to cyber risk management. It requires an understanding of the relationship between your business and the cyber adversary" said Mr Malone.

This very sentiment led Mr Malone to found Diamond Cyber Security out of Perth in 2014, now a national cyber security consultancy firm that provides the Government and enterprise sectors with the discipline, integrity, consummate professionalism and leadership in cyber security as employed by the Special Forces. "In addition to military experiences, our executive and management teams benefit from a broad range of commercial and global operational insights spanning multiple industries and sectors" said Sven Ross - Diamond Cyber CEO.

The cost of cyber-crime to the global economy exceeded US $3 Trillion in 2015, with recent studies estimating this to grow to US $6 Trillion by 2021.[1] The average cost of a data breach is US $4 Million.[2] A concerning statistic is the global average time to detect a cyber compromise within an organisation is 146 days.[3]

As seen with recent high-profile attacks against both Australian Government agencies and businesses in the private sector, current cyber defence methodologies are no longer sufficient for the modern threat. This has required businesses to take notice and work towards new approaches to protect their assets.

"Our appreciation for Cyber Risk Management goes beyond the Technology domain, and addresses the People and Process elements through our understanding of decision cycles of the cyber adversary and the risks they pose" says Adam de Jong - Diamond Cyber COO.

"Business needs to be more proactive and insightful than just applying technologies and IT tools - real cyber security is a way of thinking" said Mr Malone.

This exclusive presentation and discussion event will be held in Perth on 4th of December and provides a forum for senior leaders to discuss current defence methodologies and determine how to combat cyber threats in the present landscape.

You can register your interest on our website.

If you have any questions and would like to discuss further, feel free to drop us a line.

References


  1. https://www.csoonline.com/article/3110467/security/cybercrime-damages-expected-to-cost-the-world-6-trillion-by-2021.html ↩︎

  2. https://www-01.ibm.com/common/ssi/cgi-bin/ssialias?htmlfid=SEL03094WWEN ↩︎

  3. http://www.zdnet.com/article/businesses-take-over-six-months-to-detect-data-breaches/ ↩︎