Is your business prepared for a cyber attack?

In today’s landscape, it is more crucial than ever for business leaders to grasp their business’s cyber risks and their own roles in enhancing their cyber security cover and addressing cyber threats.  95% of Australian CEOs have identified cyber risks as the primary threat to business growth going forward.

The surge of ransomware is just one example of a threat that challenges a businesses ability to respond to cyberattacks and test its business continuity plans. Most businesses lack a well-defined playbook that incorporates a decision-making framework to assist in making sound judgments in high-pressure situations.

Companies that have established and tested plans for responding to cyberattacks not only expedite the return to normal operations but also safeguard their brand, reputation, and financial stability.

Are you aware of your obligations?

Australian businesses are increasingly reliant on digital technology, making them more vulnerable to cyber attacks. In response, there’s a growing framework of legal and regulatory obligations designed to ensure businesses take appropriate measures to protect themselves and their customers from such threats. Understanding and adhering to these obligations is crucial for any Australian business operating in today’s digital landscape.

1. Privacy Act 1988 and the Notifiable Data Breaches Scheme: Central to Australian cyber security law is the Privacy Act 1988, which includes the Notifiable Data Breaches (NDB) scheme. This scheme requires businesses to notify individuals and the Office of the Australian Information Commissioner (OAIC) when a data breach occurs that is likely to result in serious harm. This obligation ensures businesses maintain a proactive approach to protecting personal information.

2. Australian Consumer Law: Under the Australian Consumer Law, businesses are obligated to provide goods and services that meet certain guarantees. This includes ensuring that products, like software and hardware, are of acceptable quality and fit for purpose. In the context of cyber security, this could translate into an obligation to ensure that products are secure from cyber threats.

3. Essential Eight Maturity Model: Although not a legal requirement, the Australian Cyber Security Centre (ACSC) has developed the Essential Eight Maturity Model, a baseline of cyber security strategies. Adherence to these strategies is increasingly seen as a benchmark for reasonable security measures. While compliance is currently voluntary, it can play a crucial role in demonstrating a business’s commitment to cybersecurity best practices.

4. Industry-Specific Regulations: Certain industries have additional specific regulations. For example, the banking and finance sector is regulated by the Australian Prudential Regulation Authority (APRA), which imposes stringent cyber security requirements. Similarly, health service providers must adhere to the My Health Records Act 2012, which includes specific provisions for protecting health information.

5. International Obligations: For businesses operating internationally or handling data from overseas, there may be additional obligations under foreign laws. The European Union’s General Data Protection Regulation (GDPR), for instance, has extraterritorial reach and can apply to Australian businesses dealing with EU citizens’ data.

6. Cyber Insurance: While not a legal obligation, there’s a growing trend towards taking out cyber insurance. This is becoming an important consideration in a comprehensive cyber security strategy.

CYBERSECURITY WEBINARS & RESOURCES

Compliance with the ACSC Essential Eight

Stay informed with updates on the evolving cyber threat landscape, specifically tailored to your industry. Our sessions will cover the cyber actors targeting your sector, delve into the legal and regulatory aspects pertinent to your business, and analyze the impact of breaches on organizations similar to yours.

You’ll gain insights from both local and global cybersecurity specialists, including contributions from our Global Threat Intelligence team. Additionally, our Digital Law practice will provide the latest legal and regulatory news, ensuring you’re up-to-date on all fronts.

Our sessions are designed to be interactive, featuring a brief pulse-check to gauge the audience’s grasp of the key topics discussed. This ensures that by the end of the session, you’ll clearly understand where your knowledge needs to be expanded, helping you to stay ahead in the rapidly changing world of cybersecurity.

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Summary
Service Type
Managed Cyber Security Services (MSSP)
Provider Name
Kaine Mathrick Tech,
2/484 Graham St,Port Melbourne,VIC-3027,
Telephone No. 1300174391
Area
Australia
Description
Explore top-tier Managed Cyber Security Services for robust defense against digital threats, ensuring business continuity and data protection.