Security | Threat Detection | Cyberattacks | DevSecOps | Compliance

Cyber incidents are becoming increasingly common and disruptive–whether it’s ransomware, data breaches, or leaks. The number of compelling events in the last few months in Australia have shown us the implications for businesses, and their customers, when a breach occurs.

2022 has been a busy year in cybersecurity with some high-profile breaches taking over the headlines late in the year. From simple negligence to unpatched systems, phishing emails, hackers, and malicious insiders our systems and data remain vulnerable. It’s clear that despite our best investments in security training and technology there is still room for improvement in 2023.

A leading European regulator fined Meta Platforms Inc., the company that owns Facebook, 265 million euros, or around $276 million, for failing to better protect the phone numbers and other personal information of more than half a billion users from so-called data scrapers.

Healthcare organizations collect and accumulate data rapidly. This makes data protection in healthcare so difficult. The more data you have, the more privacy and security risks there are. Data breaches can affect your organization’s reputation. They can also incur major costs. For instance, HIPPA violations can be as much as $1.5 million yearly. And they will hold you – the healthcare provider – responsible for data breaches.

Technology has advanced our world in countless ways. Every day we bank, shop, conduct business, and exchange photos and messages with family and friends online. While digital devices and services offer great convenience, they also pose risks to our data and privacy as our offline and online lives converge. In 2021, data breaches reached an all-time high of 1,862, according to the Identity Theft Resource Center (ITRC), a 68% increase over 2020.

Before I became an advisor to Netskope, I was a long serving CIO and CEO for organisations including Bayer and Philips. I have spent many hours sitting in board meetings discussing data protection with colleagues and as a result I am confused by assertions I hear that data protection is only the IT team’s problem. In my experience, the majority of data protection conversations that reach the board are, in fact, driven by legal teams, who then partner with IT to devise and execute plans.

New state-level data privacy laws just keep coming. By the end of 2023, California will transition to the CPRA, and residents of Virginia, Colorado, Utah, and Connecticut will be covered by more expansive state privacy laws. With 10% of U.S. states covered by data privacy legislation by the end of next year, it’s clear there’s a need for federal legislation as well. I’m pleased to see reports of positive momentum on this topic in Washington.

Securing sensitive data in today’s digital world has become increasingly complex and challenging, especially if parties practice poor data management, network security, encryption methods, or endpoint protection. As cyber attacks continue to grow, it’s absolutely necessary to maintain stronger cybersecurity practices.