It has now been almost nine months since the Notifiable Data Breach Scheme was introduced in Australia. It is too early to tell whether the Scheme has an impact on the way businesses across the country look at their data security. The quarterly statistics released do however shed some light on the nature of data breaches, how they occurred, what industries are the hardest affected and how many records were breached. The report itself can be quite dry but stick with me and I will outline the key points that are covered.
A total of 245 breaches were reported in the time period
This is slightly higher than the 242 notifications lodged in the previous quarter. As this is only the third report released, and only the second full report as the scheme was introduced over halfway through the first quarter, it is too early to say that data breaches are trending upwards. However, 245 notifications from businesses with over three million dollars revenue within three months is still a staggering figure. There must be many more businesses out there that are not covered by the scheme who are also victims of data breaches.
Of these 245 breaches, 45% (139) of the breaches were of malicious or criminal activity
This is through a range of different methods, including phishing emails, theft of devices and rogue employees. In fact, phishing emails alone accounted for 50% of these malicious attacks, making it the most common way for criminals to steal information from your business in Australia.
The hardest hit industry in the quarter was Private Health Care Services, with 18% of all breaches belonging to them
This is now the second quarter in a row that this industry has been the hardest hit. I can’t say for sure why this is though the combination of extremely sensitive data plus employees who are not adequately trained would have to have something to do with it. The second most breached industry was financial services, such as banks and superfunds, followed by professional services and education. Every one of these industries holds sensitive data about their clients, and so data protection should be of the upmost importance to the businesses within them.
The full report shows deeper insight into each industry. If this would be of interest to you, it can be found here.
Every business should be looking at how they can improve their data security. The rising costs of a data breach can be minimised by effectively managing your cyber security.
Contact Calvert Technologies today if you have any concerns regarding securing your businesses data.