If you think 2018 was a transformative year for the Australian financial services sector, this year has been just as eventful.
Stories by Bede Hackney, Tenable
The increasing digitisation of our world has transformed the way in which we live and work. Although living in an increasingly connected world has produced many benefits it has also created new challenges. One being the unrelenting risk of cyber crime which is perpetually on the rise. Not only are the types of cyber threats increasing, so too are the number of cyber criminals.
What do storms, volcanoes and cyber attacks have in common? All can have a devastating impact on society and all have claimed a spot on the World Economic Forum’s top global risks of 2018 list. Last year, the global cost of cybercrime was estimated to exceed $600 billion, equating to around 0.8 per cent of global GDP. An eye-watering amount.