Cyber attack to become ‘almost the new normal’

Cyber attack to become ‘almost the new normal’ | Insurance Business

Cyber attack to become ‘almost the new normal’
KPMG’s partner for technology, risk and assurance, Mark Tims, has warned Australian companies that the increase in cyber attacks could become “the new normal” as companies grapple for their online future.

In a special report published with the Australian Financial Review, Tims details his thoughts on the future of cyber risk and it makes for concerning reading.

“In the next five to 10 years I see what we’re dealing with now as almost the new normal. Business is not going to get simpler.

“It’s going to stay online; and digital, social media will remain and there will be more advances in technology, with the cloud and big data becoming more important.”

“I see organisations continuing to be under attack. It’s just going to be part of doing business.”

The news comes in the wake of another data breach, reported by Reuters, as cybersecurity firm FireEye has uncovered a sophisticated cyber espionage ring focused on stealing corporate sectrets in an attempt to cheat the US stock market.

Tims believes that cyber risk, and mitigating against this risk, is “a cost to doing business” in today’s world and no company can ever be totally secure.

“We can’t batten down the hatches and protect everything 100 per cent; breaches will still take place. It’s about knowing how to respond to a targeted breach of your perimeter.

“There is a constant battle to keep pace with change and with what the bad guys are doing. Those are the challenges facing Australian organisations today.”