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As the year draws close, many private organisations begin planning their cybersecurity objectives. With the recent major security breach in Medibank, many companies are securing their digital assets, allocating more of their budget towards cyber barriers.
According to a new trends report for 2023 from Tesserent, the cost of compliance may be too burdensome for most companies. Michael Kinnon, CIO at Tesserent, hints that the Australian government may consider Cyber Militia.
For context, Cyber Militia is a term used for strengthening cyber defences similar to regulating and maintaining the Army Reserve, especially during a national crisis. But since cyber militia is still in the works, private entities and individuals may resort to taking matters into their own hands through Digilantism, a form of hacking back threat actors attacking them.
“The Australian Minister for Cyber Security, Hon Clare ONeil, has been explicit in her public goals for Australia to be the safest cybernation on Earth. In 2023, industry and government will need to focus on innovative ways to address the shortfall in highly skilled cyber professionals. This may involve a genuine national discussion about the focused, skilled migration programs for cyber practitioners, greater emphasis on formalised personnel transfers within Five Eyes, QUAD and AUKUS nation-states and funding initiatives such as an extension to the current ADF Cyber Gap Program, which is set to end in 2023,” the CIO adds.
The country as a whole may take drastic steps as the government realised how severe data breaches were, learning from the Medibank incident. Recently, thousands of confidential patient records were hacked. Data was held ransom for a dollar each, and the hackers taunted Medibank that if they didn’t pay the ransom, it would be leaked on the dark web.
Medibank strictly followed government protocols and refused to pay, and this decision ended with the patient records being published in a dark web blog. It has caused the company thousands of dollars in damages and stained its reputation.
Raghu Nandakumara, Head of Industry Solutions in Illumio, also notes that companies may start forming oversight committees focused on cybersecurity. “Similar to those in legal and risk management, committees will look at cybersecurity objectively and establish baseline expectations that the business is held accountable. They will be tasked with monitoring for oversights and adding direction, signifying widespread recognition of cybersecurity as a top-five strategic function.”
Nandakumura notes that cyber resilience will soon become an industry-recognised metric. Organisations would use it to measure their successes more than just stopping mere data breaches.
Nandakumura’s colleague, Adam Brady, Director of Systems Engineering in Illumio, supports him, stating:
“In 2023, attention will shift from prevention at the perimeter and choosing the most’ bulletproof’ IT infrastructure model to breach containment. We will see acceptance in the industry that breaches are here to stay, and security strategies evolve to take this into account. It will no longer matter if it’s on-premise, hybrid, cloud or at the edge. What will be important is maintaining visibility across the entire estate.”
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