Security News

Telstra report finds 48% of Australian companies experienced cyber attack

The 2019 Telstra Security Report, covering more than 300 Aussie companies, has found that 48% had experienced a cyber attack in the past year, up 33% on 2018 figures.

Over 80% of those who were attacked suffered ransom attacks, and more than half paid it. What's more, 79% who did pay said that, if attacked again, they would consider paying the ransom if there was no back-up for the impacted data.

Alarmingly, 89% of survey respondents estimated that more than half of their company's data breaches went undetected, even though 74% of businesses believe they have strong cyber security systems in place (the report stated that a major source of risk to IT security is human - employee - error).

And paying the ransom does not guarantee a retrieval of data and of those that paid, 77% were able to retrieve the data, compared with 86% the year before.

However, it isn't all doom and gloom.

The report found that "awareness and understanding of the strategic importance of security has increased, with 84% of companies saying they will increase security budgets, currently averaging over $900,000 per annum, in the next 12 to 24 months."

The answer? Companies need to stay vigilant and ensure software is frequently kept updated and patched.

Keep track of vulnerabilities in your stack

Receive a free weekly email with a round-up of all vulnerabilities that affect your software as well as relevant security news and articles. See an example email