The problem

While 99% of attempted cyberattacks are thwarted, the 1% that manage to slip through the net are wreaking not only economic damage, but significant reputational, legal, and personal harm to corporations and civilians. With the cybercrime ‘bill’ now estimated to be at AUD $12 trillion a year, cybersecurity experts are calling for a new, more transparent, and collective approach to address cyberattacks.

The solution

Optus Chair of Cybersecurity and Data Science at the University of South Australia, Associate Professor Mamello Thinyane, says that individuals, companies, and governments must all share the responsibility.

“In the past, organisations have been unwilling to disclose their cyberattack experiences for fear of reputational damage and legal implications,” Assoc Prof Thinyane says.

“However, it’s important we strengthen our collective intelligence and reduce the barriers for companies that have been victims of cyberattacks.

“Basic ‘cyber hygiene’ should be instilled in everyone… and this includes protecting our accounts with multi-factor authentication, strong passwords, password managers, and being super vigilant around potential phishing attacks and scams.”

UniSA Video

As cyber attacks become more sophisticated and lucrative, and artificial intelligence (AI) exposes the world to more security risks, the challenges are mounting.

AI is proving a double-edged sword – helping bad actors to disrupt systems but also allowing authorities to strengthen digital security.

“The genie is out of the bottle…all of us are increasingly using digital technologies and devices with sensors and processing ability, such as wearable computers and smart home systems,” Assoc Prof Thinyane says.

“While this benefits our lives, it also makes us far more vulnerable to being hacked.

“Digital technologies are here to stay, but for societies to thrive, we need to make our systems and data more secure, and we need to collectively become cyber resilient.”

This article was originally published as a UniSA News story. Read the original story here.

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